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In 1826, the Irish pound was replaced by the pound sterling and later Irish banknotes were issued denominated in sterling. Banks issuing notes during this period were the Bank of Ireland , the Belfast Banking Company, the National Bank, the Northern Banking Company , the Provincial Bank of Ireland and the Ulster Bank .
Its sterling notes should not be confused with banknotes of the former Irish pound which were in use in the Republic of Ireland before the adoption of the euro in 2001. Banknotes issued by Bank of Ireland are of a uniform design, with denominations of £5 , £10 £20 , £50 and £100 each differentiated by colour.
Banknotes have been issued for use specifically in Northern Ireland since 1929, and are denominated in pounds sterling. They are legal currencies, but technically not legal tender anywhere (including Northern Ireland itself). This is not uncommon as most bank notes are not recognised as tender. [1]
These are pound sterling notes and equal in value to Bank of England notes, and should not be confused with banknotes of the former Irish pound. The Bank of Ireland does not issue banknotes in the territory of the Republic of Ireland; until the Republic joined the euro in 1999, the only note-issuing bank there was the Central Bank of Ireland.
With a conversion factor of 0.787564 Irish pounds to the euro, of the 15 national currencies originally tied to the euro (also including the currencies of Vatican City, Monaco and San Marino [8]), the Irish pound was the only one whose conversion factor was less than 1, i.e. the unit of the national currency was worth more than one euro. 56% ...
The last copper coins of the Irish pound were minted in 1823, and in 1826 the Irish pound was merged with the pound sterling. [6] After 1826, some Irish banks continued to issue paper currency, but these were denominated in sterling, and no more distinctly Irish coins were minted until the creation of the Irish Free State in the 20th century.
Early banknotes were denominations of the Irish Pound, but following that currency's abolition in 1826 banknotes produced by the Bank of Ireland were denominated in pounds sterling. These early banknotes were printed by the bank in Dublin, and featured a design with a row of Mercury heads across the top.
Main articles: Banknotes of the pound sterling and Bank of England note issues. Note: The description of banknotes given here relates to notes issued by the Bank of England. Three banks in Scotland and four banks in Northern Ireland also issue notes, in some or all of the denominations: £1, £5, £10, £20, £50, £100.
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