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Servicon, an Irish design company, designed the £1, £5, £10, £20, £50, and £100 denominations. The £100 note was never issued or circulated. This is the only series of Irish banknotes without a note of this denomination. The theme of these notes was the history of Ireland. Each note featured the portrait of a historical figure.
Early notes were denominated either in Irish pounds or guineas, with 1 guinea equal to 1 pound 2 shillings 9 pence Irish. The suspension of cash payments by the Bank Restriction Act 1797 lead to an increase in the usage of banknotes in Ireland, and the notes of many of the private banks became payable in Bank of Ireland notes, which was stated ...
All other eurozone countries withdrew their currencies in a similar fashion, from that date. Irish pound coins and notes ceased to be legal tender on 9 February 2002. [15] All Irish coins and banknotes, from the start of the Irish Free State onwards, both decimal and pre-decimal, may be redeemed for euros at Ireland's Central Bank in Dublin.
The £100 note was never issued or circulated; this remains somewhat of an idiosyncrasy in the issue of Irish banknotes as this is the only series without a note of this denomination. The series was Legal Tender from 1976–1995, although not printed after May 1993.
A new series of Bank of Ireland notes, in denominations of £5, £10 and £20, were issued in April 2008. All of the denominations feature an illustration of the Old Bushmills Distillery on the reverse side. Prior to 2008, all Bank of Ireland notes featured an image of the Queen's University of Belfast on the reverse side. [2] [3] [4]
The Series A banknotes (Irish: Nótaí bainc sraith A) were the first banknotes created by and for the Irish Free State in 1928 [1] and continued to be issued when the Free State became the Republic of Ireland. They are considered to "count amongst the most iconic and beautiful of all modern banknotes."
Northern Irish banknotes are fully backed such that holders have the same level of protection as those holding genuine Bank of England notes. [2] The £5 note is currently the smallest denomination of banknote issued by the Bank of Ireland. [3] The Queen's University Belfast Series was first issued in 2003.
First Trust Bank's current notes have a generic depiction of a Northern Irish person. A young middle-aged man appears on the £10 note, an elderly woman on the £20 note, an elderly man on the £50 note, and finally both elderly people together on the £100 note. Prior to 1994, the elderly man featured on the £100 note.