Milestones in the decimal coinage of Gibraltar

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Gibraltar.

From Wikipedia:

Gibraltar is a British overseas territory located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean. A peninsula with an area of 6.843 square kilometres (2.642 sq miles), it has a northern border with Andalusia, Spain. The Rock of Gibraltar is the major landmark of the region. At its foot is the densely populated city area, home to almost 30,000 Gibraltarians and other nationalities.

An Anglo-Dutch force captured Gibraltar in 1704 during the War of the Spanish Succession. The territory was subsequently ceded to Britain by Spain "in perpetuity" under the Treaty of Utrecht in 1713. It was an important base for the British Royal Navy; today its economy is based largely on tourism, financial services, and shipping.

The sovereignty of Gibraltar is a major point of contention in Anglo-Spanish relations as Spain asserts a claim to the territory. Gibraltarians resoundingly rejected proposals for Spanish sovereignty in a 1967 referendum and again in 2002. Under Gibraltar constitution of 2006, Gibraltar governs its own affairs, though some powers, such as defence and foreign relations, remain the responsibility of the UK Government.

 

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Flag of Gibraltar.

From Wikipedia:

The flag of Gibraltar is an elongated banner of arms based on the coat of arms of Gibraltar, granted by Royal Warrant from Queen Isabella I of Castile on 10 July 1502. The flag is formed by two horizontal bands of white and red, with a three-towered red castle in the centre of the white band. Hanging from the castle gate is a gold key. The castle does not resemble any in Gibraltar but is supposed to represent the fortress of Gibraltar. Gibraltar was seen to be the key to Spain by the Moors and Spanish, and later as the key to the Mediterranean by the British.

 

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Gibraltar and the Iberian peninsula.

Gibraltar and Spain.

 

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Map of Gibraltar.

 

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Gibraltar from the air.

 

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According to the Gibraltar Treasury:

After the capture of Gibraltar in 1704, ordinary British coins started to circulate in the City. However, to relieve an acute shortage of small change, a local merchant, Robert Keeling, started issuing copper tokens during 1802. This was, by then, a normal practice by many traders and shopkeepers in Britain. The Gibraltar Tokens were valued 1 and 2 Quarts or Quartos and it seems that they were traded at 192 quartos to the Spanish silver Dollar, which, in turn was worth 4 shillings and 4 pence. Other local traders or merchants also struck their own tokens in Gibraltar.

These tokens, although bearing the British Lion guarding the Key of the fortress were unofficial issues. Around 1816 the British Government started to reform its own currency and gradually the shortage of small change was alleviated. The ‘Gibraltar’ tokens were slowly withdrawn from circulation in 1820. It was not until 1839 that the then Colonial Administration decided that it would be most useful for Gibraltar to have small value coins for only local circulation. After much discussion the Royal Mint was approached and copper coins of half, one and two quarts were proposed.

During 1840-41 proofs were produced and finally the dies dated 1840 were manufactured. However, the actual introduction of the local coins was delayed until 1842, so the original dies were counter-punched to change the date to 1842. Likewise, the 2 quart coins of 1842 were overstruck on a die dated 1841. The coins of 1842 bore the young head profile of Queen Victoria by Thomas Wyon on the obverse and the Castle and key emblem of Gibraltar on the reverse.

There was no further issue for general circulation, although proofs for 1 and 2 quarts dated 1860 and proofs of all three coins dated 1861 are known to exist, albeit very rare. British coins were used exclusively thereafter.

 

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In the 1960s the UK pound sterling was still the only legal tender in Gibraltar. In 1968 the UK, in order to begin to familiarise the public with the decimal system, introduced circulation 5p and 10p coins. These co-circulated with the UK shilling and two shilling coins and the UK 5p and 10p versions. Five pence was equivalent to a shilling, ten pence to two shillings. Both coins included the word "NEW" in the denominational legend, in order to distinguish them from "old" pre-decimal pence. These coins also circulated in Gibraltar.

Though Gibraltar did not issue its own pre-decimal circulation coins, it became active in the collector market by issuing a collector crown (five shillings) in 1967. The reverse of this coin depicted the castle and key, the symbol of Gibraltar. The same design was reissued dated 1968, 1969 and 1970.

See also: Gibraltar crown 1967-70: Preliminary artwork

 

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On the 15th February the UK went decimal, and Gibraltar, because it used UK coinage, followed suit. Though it did not issue its own circulation coins, it did issue a 25 pence collector coin. The coin was designed by Christopher Ironside, who had designed the reverses of the UK's circulation coins, and it depicted a macaque monkey, more commonly known as a "Barbary ape". These monkeys are one of Gibraltar's tourist attractions.

 

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Throughout the 1970s and 1980s, Gibraltar issued several collector coins but no circulation coins of its own. Jersey and Guernsey had already issued their own decimal coinages in 1971, followed by the Falkland Islands in 1974. The UK demonetised its old predecimal sixpence only at the end of 1980, so that coin disappeared from Gibraltar too.

In 1982, the UK dropped the legend "NEW" from its decimal coins and introduced a circulation 20 pence coin in 1982, followed by a circulation pound coin in 1983. At the end of 1984, the halfpenny was demonetised in the UK. All these changes also took place in Gibraltar, since the UK pound sterling was still the legal currency and only UK coins and banknotes circulated there. Also in 1984, yet another British overseas territory adopted its own coinage: St Helena and Ascension.

In 1985 another major change took place in the British coinage, when the new portrait of Queen Elizabeth II, created by Raphael Maklouf, replaced the one by Arnold Machin.

In 1988 Gibraltar became the last of Britain's territories and dependencies using the UK pound sterling to issue its own coinage. The banknotes and coinage of the UK are still legal tender in Gibraltar and circulate there.

The territory uses its own currency, the Gibraltar pound. It is a separate currency from the UK pound sterling, but it is pegged to the UK pound at a rate of one to one. The Gibraltar pound is created by the Gibraltar currency board and is fully backed, 100%, by reserves of the UK pound sterling, its anchor currency. For a fuller explanation of currency boards, read this topic: There are only four basic currency systems in the world.

The territory's coins are minted to the same specifications of size, shape, colour and weight as their UK counterparts. The UK removed any reference to "NEW" pence from its coinage in 1982, and because Gibraltar's coins were not minted until 1988, they also omitted that reference.

The reverses of the coins of Gibraltar carried designs of the local landmarks and wildlife.

All the reverse designs of 1988 - including those of the £2 and £5 collector coins, which did not circulate - were the work of local artist Alfred Ryman. 

See also: Gibraltar 1988: adopted and unadopted designs by Alfred Ryman.

 

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The obverse of the coinage carried the standard portrait of Queen Elizabeth II by Raphael Maklouf, as used in the UK from 1985 to 1997.

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The reverse of the penny depicted a Barbary partridge (Alectoris barbara).

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A Barbary partridge.

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The Europa Point Lighthouse appeared on the two pence.

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The Europa Point Lighthouse dates from 1841.