The Bailiwick of Guernsey is one of the three British Crown Dependencies. It is a self-governing territory for which the United Kingdom is responsible and not a sovereign state. This means that although Guernsey has a legislative assembly that governs over local matters known as the Privy Council, the power to pass legislation still ultimately rests on the Queen-in-Council.

The Bailiwick of Guernsey consists of Alderney, Sark, Herm, Jethou, Guernsey, and all other islets nearby. It is located in the English Channel, 48 km west of Normandy.

Guernsey uses the pound sterling as its currency. Early Guernsey notes were produced and circulated by merchants then commercial banks. The government of Guernsey took over the issuing authority of commercial banks in 1914 to centralize the flow of money. These government-issued notes featured the States of Guernsey as the issuer. Early States of Guernsey notes only had front designs and handwritten signatures. The first colored Guernsey notes were issued in 1895. These notes were called “Greenbacks” because they had a blue color scheme in front and a green color scheme at the back. In 1969, the States of Guernsey started featuring prominent people and landmarks at the back and the Guernsey lily and the Bailiwick of Guernsey seal in front. De La Rue officially became the printer of Guernsey notes from 1980 onwards. Queen Elizabeth II is often featured in Guernsey notes. Her portrait first appeared on the 1994 family of notes.

The States of Guernsey released three commemorative notes: a 5 pound note in 2000 for the new millennium, a 20 pound note in 2012 for the diamond jubilee of Queen Elizabeth II, and a 20 pound note in 2018 for the centennial anniversary of World War I.   

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