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The pound is the currency of Guernsey. Since 1921, Guernsey has been in currency union with the United Kingdom and the Guernsey pound is not a separate currency but is a local issue of sterling banknotes and coins, in a similar way to the banknotes issued in Scotland, England and Northern Ireland (see Banknotes of the pound sterling). It can be exchanged at par with other sterling coinage and notes (see also sterling area).
For this reason, ISO 4217 does not include a separate currency code for the Guernsey pound; when distinction from sterling is desired the abbreviation GGP may be used.
After the First World War, the value of the franc began to fall relative to sterling. This caused Guernsey to adopt a pound equal to the pound sterling in 1921. For amounts below 1 shilling, the conversion rate of 1 Guernsey penny (8 doubles) = 1 British penny applied, allowing the Guernsey coins to continue to circulate. For amounts above 1 shilling, an exchange rate of 21 Guernsey shillings to the pound sterling was used, applying an approximation to the pre-war exchange rate of 25.2 francs = 1 pound sterling, rather than the exact rate of 25.22. This conversion increased the value of the double from to of a pound, or half of a farthing. The World War I issues of banknotes were overstamped with the word "British" to indicate this change. New banknotes and British silver coinage circulated alongside the double coins, with 3-pence coins minted specially for Guernsey from 1956.
In 1971, along with the rest of the British Isles, Guernsey decimalised, with the pound subdivided into 100 pence, and began issuing a full range of coin denominations from p to 50p (£1 and £2 coins followed later).
Around £51m of coins and notes are in circulation.
In 1956, new designs were introduced for the 4 and 8 doubles (the lower denominations were no longer issued). These featured the Island's seal and name (now given as S'Ballivie Insule de Gernereve) on the obverse with the English language name, the date and the Guernsey lily on the reverse. Threepence coins were also issued from 1956, with the same obverse and a reverse featuring the Guernsey cattle.
As in the UK, 5 and 10 new pence coins were introduced in 1968, followed by 50 new pence coins in 1969, before decimalisation took place in 1971 and the , 1 and 2 new pence coins were introduced. These coins were the same size and composition as the corresponding British coins. The word "new" was dropped in 1977.
A £1 coin was introduced in 1981, two years before its introduction in the UK, although the 20 pence and £2 coins were introduced at the same time as in the UK: 1982 and 1998, respectively. The 1981 coin was significantly thinner than the modern version and the diameter also measured slightly less. The £1 coin ceased to be legal tender on 15 October 2017, to coincide with the withdrawal of the circular £1 coin in the UK. The UK's new twelve-sided £1 coin is the only £1 coin that is legal tender on the island.
The first decimal issues continued with the same obverse as the last pre-decimal issues until 1985, when Raphael Maklouf's portrait of Queen Elizabeth II was added. Ian Rank-Broadley's portrait of the Queen has appeared since 1998.
Designs on the reverses of Guernsey's decimal coins are:
| Crab |
| Guernsey cattle |
| Cog and map |
| Guernsey freesia |
| Flag |
| + Depiction of Guernsey coinage | Reverse side | ||
| Crab | Guernsey cattle | Yacht |
| Tomato | Depiction of light industry /Map of Guernsey | Guernsey |
| Flag of Guernsey motif | ||
In 1921, States notes were over-stamped with the word "British" to signify the island's conversion to a pound equal to sterling. From 1924, ten-shilling notes were issued without any reference to the franc. The five-shilling note was discontinued.
In 1941, during the German occupation, notes were introduced in denominations of 6 pence, 1 shilling 3 pence, 2 shillings 6 pence and 5 shillings. The first to be issued were the 5-shilling and 2s 6d notes. They were printed on States of Guernsey watermarked paper; the height of the notes was inches; the length of the 2s 6d note was inches and that of the 5s note was inches. The 5s note was printed in black and red with the Seal of the Bailiwick in red on the reverse. The 2s 6d note was printed in light blue with the denomination in orange and the Seal of the Bailiwick in royal blue on the reverse. From 1942, the 1s 3d notes were overprinted to produce 1-shilling notes. In 1945, following liberation, £5 notes were introduced and production of all denominations below 10 shillings ended.
The 10 shilling note was replaced by the 50-new-pence coin in the run up to decimalisation. £10 notes were introduced in 1975, followed by £20 in 1980 and £50 in 1994. Although £1 and £2 coins have been introduced, the £1 note still circulates.
A commemorative £20 note was issued in 2012 to commemorate the Diamond Jubilee of Queen Elizabeth II. It is similar to the regular issue, but with the QE60 letter prefix, the commemorative laurel wreath on the lower left corner of the note, and additional wording. A total of 150,000 notes were issued. Guernsey new 20-pound Diamond Jubilee commemorative note confirmed BanknoteNews.com. 1 June 2012. Retrieved on 2013-09-18.
A commemorative £1 note was issued on 4 July 2013 to mark 200 years since the first commercial operation of Thomas De La Rue. The commemorative note is in circulation alongside the standard £1 note, differing in the portrait of De La Rue on the reverse and a TDLR letter prefix.
On 8 November 2018, a commemorative banknote of £20 was issued to mark the 100th anniversary of the end of World War I. It is like the preceding 2012 commemorative issue, but with the seal of the Bailiwick of Guernsey surrounded by poppy flowers and containing the serial letter prefix "TG/W" (for "The Great War").
In January 2023 Guernsey advised that notes produced for the island by De La Rue plc will in future include PUREIMAGE™ and IGNITE® security threads and the NEXUS™ embedded stripe.
| Daniel De Lisle Brock, Bailiff of Guernsey 1762–1842, The Royal Court, St Peter Port, 1840 |
| Fountain Street (St. Peter Port) Thomas de la Rue, Newspaper ("Le Miroir Politique") |
| Fort Grey, Hanois lighthouse 1862 |
| Saumarez Park, Les Niaux Watermill, Le Trépid Dolmen |
| Vale Castle, St Sampson's Church |
| Point de la Mare, La Gran'mère, letter of marque, St Andrew's Church |
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