Book Review – Guernsey Paper Money

A conversation with Steve Norman at Kenilworth brought to mind that we have never as far as I am aware published any information about Channel Islands bank notes, apart from a short item from Bob MacDonald in 1997. Bank notes are just as much a reflection of the times as are stamps, and given how much can be revealed about a subject from a book review, I am including a review of Steve’s book co-authored with Pam West Guernsey Paper Money  –  A Complete History which I hope will alert you to the interest in these little pieces of history. 

The banknotes of Guernsey have always been hugely popular with collectors. the series is small enough that a collection can be obtained with relative ease, but with enough depth that someone could spend a lifetime looking and never really run out of things to add. Furthermore, there are options for collection of military notes with the occupation issues during the Second World War; low and fancy number collectors love the later series with their many different cashiers and designs; and even collectors of 19th Century notes have options, with an amazing set of early notes issued on the island. It is therefore remarkable that no dedicated publication has ever existed dealing solely with the banknotes issued there. Until now that is. Pam West and Steve Norman have managed to produce a superb and very affordable 484-page paperback which includes as complete a catalogue as anyone could desire alongside a vast amount of history and other context.

The book is divided into several main sections. After several illuminating forewords and introductions, there is a very useful section titled “Guidance for Collectors,” which includes pages on subjects such as common abbreviations, pricing, grading and ideas for forming a collection.

Following this is a simply superb 60-page section with the title “Background Information.” This unassuming title does not do this section justice in any way. In black-and-white words (with lovely colour images) we have a lifetime of acquired knowledge about anything and everything related to  Guernsey paper money, in an easily digested format, Running roughly chronologically, we have discussions  on each of the companies who were involved in printing money on Guernsey, history of the early banking houses on the island, an illuminating essay on the transition from local money to sterling, sections on Guernsey during both world wars, lists of all signatories on the States notes and even a couple of pages on “The Expensive Appetite of Guernsey Mice” about the destruction registers for early notes, including many eaten by rodents. It is this section, along with the final 60 pages (more on that later), that really makes this book stand out for me. It elevates what would otherwise be a straightforward catalogue, into a genuinely interesting read. The information is interesting, accessible, and entirely relevant, with very little padding.

The majority of the book is the catalogue section, which is organised strictly chronologically. As such, the first approximately 160 pages are devoted to extremely early notes dating from around 1800, until the start of the Second World War, when emergency issues were first needed. the notes in this section range from extremely rare to entirely unobtainable. Many of the images are of unique items, and many others are only known in museums and archives. Others are known to have been issued but none are thought to have survived. Most of us will not use this section widely, but the thoroughness of it is extremely impressive, and just to see images of these incredible notes feels like a privilege. There are in-depth histories for each of the issuing institutions, and where possible note issuance is listed in detail. In many cases we have been given the individual print runs, and it is remarkable how many notes remain unredeemed. This really highlights the level of research that Steve Norman has been able to do on the subject and if anyone is in doubt that this book is the absolute last word on Guernsey Paper Money, this section on the earlier banks would put their mind at rest!

Amongst the most popular of the Guernsey notes are those  used during the German occupation of the island from 1941 until 1945 (first and last note issue dates). This small series is incredibly collectable, and this book breaks each issue down to prefix and print run level. I suspect there will be collectors out there who will suddenly discover they have a genuinely rare prefix they were never even aware of. This is even more true for the post-war issues of 1945-66, for which there are literally hundreds of prefixes and print runs, a significant proportion of which have never been seen.

As the notes begin to edge closer to the present day, the book assumes a more familiar aspect. The usual style of Pam West’s catalogues is used, with the notes broken down chronologically by cashier’s signature, then denomination and date. This makes the book incredibly user-friendly, and it rarely takes more than a few seconds to find exactly what you need.

The final 60 pages of the catalogue deal with a wide range of notes and financial ephemera that do not fit with the main States issues. This section really stands out, with postal orders, Herm coupons, German military issues and 1970s promissory notes all thoroughly explored. Of particular interest is an illuminating essay on the subject of the Bank of England £1 notes with “Withdrawn from Circulation” overprints which are now so popular with collectors.

Throughout the catalogue, prices are listed in one, two or three different grades depending on the rarity of the item. Earlier notes are often simply listed as “RARE”, which is not unreasonable since many of them are effectively priceless and often unique. Prices for expensive items tend to draw on auction records, and seem a reasonable guide. The later, more obtainable issues are often a little overpriced for the lower grades, but the prices for uncirculated notes are quite accurate, particularly for notes graded by Third Party Graders.

In summary, this book is essential to all collectors of Guernsey notes and indeed anyone with an interest in the Channel Islands or indeed the banknotes of the UK. The combination of decades of research by Steve Norman and the superb production value Pam West brings to everything she publishes has ensured that Guernsey Paper Money is nothing short of a triumph. The reviewer would argue that all that remains now is that Pam West to find a co-author for the final remaining part of the British Islands which remains without a modern catalogue-Jersey.

Guernsey Paper Money can be ordered directly from the publisher Pam West at http: www.britishnotes.co.uk