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Currency of Jersey

The pound (, Jèrriais: Louis de Jersey; abbreviation: JEP; sign: £) is the currency of Jersey. Jersey is in currency union with the United Kingdom, and the Jersey pound is not a separate currency but is an issue of banknotes and coins by the States of Jersey denominated in sterling, in a similar way to the banknotes issued in Scotland and Northern Ireland (see Banknotes of the pound sterling). It can be exchanged at par with other sterling coinage and notes (see also sterling zone). ISO 4217 does not include a separate currency code for the Jersey pound, the abbreviation "JEP" may be used if distinction from sterling is desired. Both Jersey and Bank of England notes are legal tender in Jersey and circulate together, alongside the Guernsey pound and Scottish banknotes. The Jersey notes are not legal tender in the United Kingdom and unlike Scottish and Northern Irish banknotes are not authorised by the British Parliament as legal currency in the United Kingdom. That said, it will often be accepted by vendors in the UK with varying degrees of difficulty.

The livre was the currency of Jersey until 1834. It consisted of French coins which, in the early 19th century, were exchangeable for sterling at a rate of 26 livres = 1 pound. After the livre was replaced by the franc in France in 1795, the supply of coins in Jersey dwindled leading to difficulties in trade and payment. In 1834, an Order in Council adopted the pound sterling as Jersey's sole official legal tender, although French copper coins continued to circulate alongside British silver coins, with 26 sous equal to the shilling. Because the sous remained the chief small change coins, when a new copper coinage was issued for Jersey in 1841, it was based on a penny worth 1/13 of a shilling, the equivalent of 2 sous. This system continued until 1877, when a penny of 1/12 of a shilling was introduced. Along with the rest of the British Isles, Jersey decimalised in 1971 and began issuing a full series of circulating coins from p to 50p. £1 and £2 denominations followed later. As of December 2005, there was £64.7m of Jersey currency in circulation. A profit of £2.8m earned on the issue of Jersey currency was received by the Treasurer of the States in 2005.

In 1834, an Order in Council adopted the pound sterling as Jersey's sole official legal tender to replace the Jersey livre, although French copper coins continued to circulate alongside British silver coins, with 26 sous equal to the shilling. Because the sous remained the chief small change coins, when a new copper coinage was issued for Jersey in 1841, it was based on a penny worth 1/13 of a shilling, the equivalent of 2 sous. In 1841, copper 1/52, 1/26 and 1/13 shilling coins were introduced, followed by bronze 1/26 and 1/13 shilling in 1866. In 1877 a penny of 1/12 of a shilling was introduced, and the system changed to 12 pence to the shilling. Bronze 1/48, 1/24 and 1/12 shilling were introduced. This was the only issue of the 1/48 shilling denomination. Between 1949 and 1952 the end of the German occupation of the Channel Islands was marked by one million commemorative Liberation pennies that were struck for Jersey. In 1957, a nickel brass 3 pence coin was introduced carrying the denomination "one fourth of a shilling". The 1957 and 1960 issues were round, with a dodecagonal version introduced in 1964. In 1968, 5 and 10 pence coins were introduced, followed by 50 pence in 1969 and p, 1p and 2 pence in 1971 when decimalisation took place. All had the same composition and size as the corresponding British coins. The reverse of the first issue of decimal coinage bore the coat of arms of Jersey as had previous coins. The 1/2 penny coin was last minted in 1981. 20 pence coins were introduced in 1982 and £2 coins in 1998.

A square £1 coin was issued in circulation in 1981 to mark the bicentenary of the Battle of Jersey. The square pound could not be accepted by vending machines and was not issued after 1981. When the rest of the British Isles started to introduce a standardised pound coin in 1983, Jersey changed to a round coin to match. £1 coins were issued with a different design each year. Initially, each new coin featured one of the coats of arms of the 12 parishes of Jersey. These were followed by a series of coins featuring sailing ships built in the island. The motto round the milled edge of Jersey pound coins was: Caesarea Insula ("island of Jersey" in Latin).

50 pound notes were introduced in 1989. The current notes depict Queen Elizabeth II on the obverse and various landmarks of Jersey or incidents in Jersey history on the reverse. The watermark is a Jersey cow. Despite the introduction of a £1 coin, the £1 note continues to circulate. Image DenominationColourReverse design 1 poundGreenSt. Helier Parish Church 5 poundsPurpleLa Corbière lighthouse 10 poundsRedThe Death of Major Pierson, Battle of Jersey, 1781 20 poundsBlueSt. Ouen's manor 50 poundsBrownGovernment House

Jersey has issued two commemorative £1 banknotes. In 1995 a special issue commemorating the 50th anniversary of Liberation of Jersey was issued. The front side is slightly different from the standard design with the serial number starting "LJ" standing for "Liberation of Jersey" and a map of Jersey printed in optically variable ink. On the reverse is an entirely different design from the standard one pound note, featuring the one pound note issued during the Occupation of Jersey. In 2004 a special edition £1 note was introduced in general circulation alongside the St. Helier Parish Church note; this commemorative note marks the 800th anniversary of the division of the Duchy of Normandy in 1204 and the design consequently includes Mont Orgueil castle and other historic symbols. It has serial number with prefix "J8C" which stands for "Jersey 800". On 1 June 2012 a £100 note was issued to commemorate the Diamond Jubilee of Queen Elizabeth II. The front of the commemorative note features a portrait of The Queen based on Chris Levine's and Rob Munday's portrait of Her Majesty called "Equanimity", the engraving was created by Stephen Matthews of De La Rue. On the back of the note is the Royal Mace of Jersey and the Flag of Jersey in a vertical view.