The pound is the official currency of Guernsey since 1921 when it replaced the French livre, and the country became part of the monetary union with the United Kingdom. The Guernsey pound is not a separate currency but a local issue of sterling-denominated notes and coins. In 1968, the first pence coins were introduced in denominations of 5p and 10p, followed by 50p in 1969, ½p, 1p and 2 pence in 1971, £1 in 1981, 20p in 1982, and the £2 coin in 1998. The official currency symbol: £/p (pre-decimal).
The 1 Guernsey pound coin front design features the portrait of Queen Elizabeth II (Queen of the United Kingdom and 15 other commonwealth realms) and the National Coat of Arms. The reverse of the coin illustrates a finance motive with the denomination superposed and the issue date. This coin is part of the 2003 – 2012 series; its rim is milled with lettering; BAILIWICK OF GUERNSEY. Its color is gold.
Text: ELIZABETH II ELIZABETH II BAILIWICK OF GUERNSEY, ONE POUND, 2003, 1.