1969 'Black Sheep' banknotes from Wales.

[Guest Aidan Work]

I have got in my collection 3 banknotes from Wales that were issued in 1979 by Prif Trysorfa Cymru Ltd. (Chief Treasury of Wales Ltd.) & Cwmni y Ddafad Ddu Gymreig Cyfyngedig (Black Sheep Company of Wales Limited).The first 2 notes have castles depicted,& the latter has what looks like the Menai Strait Bridge that connects Anglesey to Caernarvonshire.

They are a 1 Pound & a 10 Pounds of Prif Trysorfa Cymru Ltd.,& a 5/- of Cwmni y Ddafad Ddu Gymreig.

The 5/- has the word 'ENGHRAIFFT' inscribed.What does this mean? Is it a Specimen stamp? If so,then it must be a good item.

Does anyone know if there is a catalogue listing these notes,& if there is,what is it called,& who wrote it? Is it written in English or Welsh,or even both?

Are these notes common? I know that after they were withdrawn,they were sold to the numismatic trade through a dealer in Monmouthshire.

If you have any information,can you please let us know?

I think these notes should be listed in the Pick Specialised catalogue,even though they are private issues like the Chatham Islands notes & the Jason Islands notes.

These notes are the only numismatic items I have got from Wales apart from a 50p. postal order issued at the post office in Llanfair PG,& the Anglesey 1/2d. & 1d. tokens issued by the Parys Mining Company in the late 1780's.

Aidan.

[scottishmoney 29]

Aidan, at one time these notes were right common. So much so that they were sold as novelties in Chemists shops for 45p in the early 1970's. Actually the inscription you have noticed means "cancelled", they were forced by the authorities to stop the note issues, so as a result they did this to further inflame their cause.

But alas, these notes subsequently got scarce, the notes I could pick up as inexpensive novelties became scarce collectors items by the late 1990's, perhaps it was the realisation that these were relics from a more radical era in the devolution cycle in Britain that were overlooked as collectibles. So that now when in the instance you find them for sale, they are right pricey.

I had all the bridge notes, the cog railway notes, the castle notes etc at one time, my brother wanted them so I gave all but a castle 5/- to him. Now I wisht I had them again, who knows what he did with them.

[Guest Aidan Work]

You're right about the Black Sheep notes not being common.I bought mine for around NZ$10 for the 1 Pound,NZ$30 for the 5/-,& NZ$50 for the 10 Pounds.

One English-born friend of mine told me a few years ago that one dealer in Aussie was selling the Black Sheep notes for A$10 each,irrespective of the denomination!

I can understand why the Welsh were issuing the Black Sheep notes.It is because they felt that they were getting a rough deal as far as recognition goes,even to the extent of claiming the same rights as the other 3 British countries in terms of issuing banknotes.

It is very strange that both Scotland & Ulster,in addition to England are allowed to issue their own banknotes,yet Wales is denied this right.

What do you think? Do you think that the Welsh should be allowed to issue their own banknotes in the same way as both Scotland & Ulster?

Aidan.

[Chris Perkins 228]

Strictly speaking, I thought none of them were allowed to, except the BofE of course. The Scottish and Northern Irish banks have to hold enough BofE notes to cover the value of their own notes in circulation. I dare say that if a Welsh bank wanted to do the same there would probably be no problem with that.

Perhaps there simply aren't any major 100% Welsh banks that would benefit or have the means to issue thousands of spendable adverts.

[scottishmoney 29]

Actually, as it is, only banks which had the right of note issue in the Banking Reform Act of 1845 can now issue notes. And as Chris notes, they have to cover note issue with BoE issue to the amount of the outstanding issue.

This effectively prohibits an upstart from issuing notes. The only way an entity can issue notes is to be the BoE or to have note issue, inherited etc from the 1845 act. Note in NI and Scotland there are no legal tender notes now, since only coin and previously 10/- and BoE £1 notes were legal tender, now with neither being legal tender, only coin is legal tender, but only to a minimal amount. Legal tender as it is defined in Scotland is any form of payment generally and popularly accepted by the parties of a transaction and not specific to a form of tender.