Comments on "Milestones in the decimal coinage of The Isle of Man"

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Parent topic:  Milestones in the decimal coinage of The Isle of Man

The parent topic (above) gives an overview of the coinage of the Isle of Man since decimalisation. Please post any comments, questions or corrections here.

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Collectors may wonder whether all these different design series actually circulate in the Isle of Man. Well, when I went there on holiday in 1981, I found three different design series in circulation (1971 to 1975, 1976 to 1979, as well as the new 1980 series, which ended in 1983), so I had fun picking all those coins out.

Because of the location of the Isle of Man in the Irish Sea, it receives lots of visitors from England, Scotland, Northern Ireland and the Republic of Ireland - though when I visited, it seemed as though, judging by the accents, the island had been taken over by the Northern Irish. Anyway, not only were there three design series of Manx coins in circulation, but UK coins circulated too. At the bar of my hotel, I often received change in Scottish or Northern Irish banknotes too. Some customers proffered banknotes or coins from the Republic of Ireland. I asked the barman how he dealt with that, because the Republic had broken the link with the UK pound sterling in 1979, and the Irish punt had depreciated against the pound sterling after that. The barman told me that he had no desire to upset his customers, so he maintained two cash drawers: one for the coins and banknotes of the Republic of Ireland, and one for all the rest. If someone paid him with a (Southern) Irish banknote, he gave them change in money from the Republic. I forgot to ask him what he did if he was paid with a mixture! In any case, I did find the odd few coins from the Republic of Ireland circulating on the island.

[malj1]

A very interesting series that was spoiled for me by the Pobjoy mint issuing crowns for every conceivable occasion that had nothing to do with the Isle of Man, causing me to lose interest.

Although I still maintain my interest in the the pre-decimal series especially tokens and checks.

I have some of my IOM collection on line here... https://sites.google.com/site/malsiom/


[I have a few of the decimal series that I am willing to exchange]

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I have the first three decimal circulation design series, as I find them very attractive, but I don't like the designs that appeared from 1984 onwards. The amount of NCLT from the IOM became ridiculous, of course, but it was their policy to make money from collectors, and it must work, otherwise they wouldn't issue so many.

The IOM does occasionally commemorate its own events, such as the TT motorbike rallies. They even had a coin to celebrate 50 years of the Bee Gees, who were born on the island - the design was suitably tasteless. 

[<k>]

The Isle of Man issued a pound coin for Ramsey in 1985 and one for Douglas, the capital, in 1986. These were part of its town series of pound coins, but I can't find any images of these coins. Can anybody help?

[andyg]

some notes,

first coins 1709 the earlier 'coins' were tradesmans tokens.
14 pence to 1 Shilling.
Last pre decimal coins were 1839 - they were withdrawn 21/9/1840.

The first £1 (issued in 1978) was the same size as the sovereign, but not a circulation coin (as far as I know)
Last ½p was issued in 1985 - so I doubt they were demonetised at the same time as the UK ½p.
£1 (and later £2) didn't circulate freely, use of £1 notes was preferred - but I'm told that they are in use now, but as to how freely that is I don;t know.

[<k>]

some notes,

first coins 1709 the earlier 'coins' were tradesmans tokens.

Agreed, that's why I wrote "coins and tokens" in my intro.

14 pence to 1 Shilling.
Last pre decimal coins were 1839 - they were withdrawn 21/9/1840.

Interesting - I'd read, probably Wikipedia, that such as were left still circulated until decimalisation. Not disagreeing with you, but can you remember the source for that, Andy?

The first £1 (issued in 1978) was the same size as the sovereign, but not a circulation coin (as far as I know)

So the sovereign was a rather thin object then. But since it was made of gold, I suppose that figures.

Last ½p was issued in 1985 - so I doubt they were demonetised at the same time as the UK ½p.

OK, I'll correct that - it's exactly the sort of difference between the "sterling area" coinages that I was looking to illustrate.

£1 (and later £2) didn't circulate freely, use of £1 notes was preferred - but I'm told that they are in use now, but as to how freely that is I don;t know.

So they must have demonetised the Manx pound note at long last?

[<k>]

Thanks for the pics, Andy. I'll see if I can fit in some links to them. It's proving to be rather a long topic...

[andyg]

Hadn't spotted you wrote tokens in the header....
There are some pictures of one of the 1668 tokens from malj1 somewhere.

Source for the 1839/1840 is Coincraft, Standard catalogue, 1999.
The proclamation was issued 4/5/1840 stating that from 21/9/1840 only British coins were legal tender.
It caused rioting in Douglas and Peel (the "Copper Row" as it became known).  This was speedily crushed by the military.  In 1862 the coinage of IOM and Britain was deemed to be "Unified" (whatever this means!)

In 1977 a proposal before Tynwald was to remove the parity of the IOM £ with that of the UK due to the exchange controls in place by the UK at that time and be tied to either the Mark, Yen or Dollar.

I think even now they still prefer the £1 notes over the coins.

[<k>]

Source for the 1839/1840 is Coincraft, Standard catalogue, 1999.

Yes, Coincraft is a good source.

In 1977 a proposal before Tynwald was to remove the parity of the IOM £ with that of the UK due to the exchange controls in place by the UK at that time and be tied to either the Mark, Yen or Dollar.

Interesting, because I thought the IOM, along with Guernsey and Jersey, was in currency union with the UK, and that therefore THEIR currency is also the UK pound sterling and not a separate "Manx pound" - meaning that though their coin and banknote designs are different from the UK's, in exactly the same way that e.g. Scottish and Northern Irish banknotes are different, they are not a different currency.

So, if Mann had wanted to peg its currency to the Mark, Yen or Dollar, it would first have had to CREATE its own currency, presumably via a currency board (a far cheaper and easier option than setting up a central bank). Gibraltar, St. Helena and Ascension, and the Falkland Islands all each run a currency board, so they do each have a separate pound and therefore a separate currency, unlike the Crown Dependencies.

[andyg]

Last ½p was issued in 1985 - so I doubt they were demonetised at the same time as the UK ½p.

OK, I'll correct that - it's exactly the sort of difference between the "sterling area" coinages that I was looking to illustrate.

I have no idea why the IOM ½p persisted for longer than that of the UK ½p!
Can't find anything about it being demonetised later.  I wonder if the 1985 issue was sets only, or a special collectors edition such as the early £1's?

Also, It's the only ½p to have the Maklauf portrait.

[malj1]

Hadn't spotted you wrote tokens in the header....
There are some pictures of one of the 1668 tokens from malj1 somewhere.

The Murrey 1668 token can also be seen on my page here along with most of the IOM tokens https://sites.google.com/site/malsiom/tokens

[Prosit]

My Isle of Man collection is a 1984 Penny (KM #112) and a 2008 one pound (KM #1259).  I will get around to adding to it someday.  Interesting coins!

Dale

[<k>]

My Isle of Man collection is a 1984 Penny (KM #112) and a 2008 one pound (KM #1259).  I will get around to adding to it someday.  Interesting coins!

Dale

Then you have masses to add! Best make sure you live to be a hundred. 

I have the first three design series of Mann, but I'm not greatly keen on those that came afterwards.

[andyg]

My latest IOM purchase...

I guess it's not to everybody's taste