Currencies/Alderney pound
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Introduction
The Alderney pound is the currency unit of Alderney, one of the Channel Islands and a Crown Dependency of the United Kingdom. It is not an independent currency but is pegged at par with the British pound sterling (GBP), which serves as the island’s de facto legal tender. In practice, British, Guernsey, and Bank of England coins and notes circulate freely on the island.
History
Although Alderney has long used the British pound, it was formally authorized in 1989 to issue its own commemorative coins. These are denominated in pounds and pence but are intended for numismatic purposes rather than circulation.
The only historical paper money associated with Alderney was a £1 banknote issued in 1810 by the Alderney Commercial Bank, which did not establish an ongoing tradition of note issuance.
Coinage
Since 1989, Alderney has issued commemorative coins in denominations ranging from 1 pound to higher values such as £2, £5, £10, and £50. These coins often mark royal anniversaries, historic events, or cultural themes.
They are typically produced by the Royal Mint in the United Kingdom and other private mints, using metals such as copper-nickel, silver, and gold. While they are technically legal tender within Alderney, they are not used in everyday transactions.
Legal Status
The Alderney pound shares the ISO currency code GBP with the British pound sterling, reflecting that it is not a separate currency. All Alderney coins are exchangeable at par with UK sterling but circulate only as collectibles. For daily commerce, residents rely on standard British and Guernsey currency.