Gibraltar P-20e 1 Pound 1988 UNC

Color: Multicolor Front: Queen Elizabeth II at center right Back: The Convent, Gibraltar (Governor's residence) Watermark: Queen Elizabeth II portrait Size: 134 × 67 mm (5.28 × 2.64 inches) Issuing entity: Government of Gibraltar Printer: De La Rue, London, United Kingdom Signature: Brian Traynor (BT") — Financial and Development Secretary Variety This is P-20e, dated 4 August 1988, signed by Brian Traynor. It is the final and most common variety of the P-20 series, accounting for approximately 62% of known examples among collectors — making it the most frequently encountered date of this type. The Rock and Its Currency Gibraltar is a British Overseas Territory perched at the southern tip of the Iberian Peninsula, commanding the narrow strait that separates Europe from Africa. Its strategic importance has made it one of the most contested and celebrated pieces of land in history — held by Britain since 1704 and fiercely defended ever since. The Government of Gibraltar has issued its own pound sterling-equivalent currency since decimalization in 1971, with notes printed by the legendary De La Rue firm in London. Queen Elizabeth II The obverse features the iconic portrait of Queen Elizabeth II, who reigned from 1952 until her passing in September 2022 — the longest-reigning British monarch in history. Her image graced the currency of dozens of nations and territories across the Commonwealth, and her presence on Gibraltar's notes reflects the territory's enduring constitutional ties to the Crown. This 1988 note captures her in the mature, dignified portrait style used across British territories during the late 20th century. The Convent — Gibraltar's Governor's Residence The reverse depicts The Convent, the official residence of the Governor of Gibraltar. Originally a Franciscan friary founded in 1531, it was seized by the British military after the capture of Gibraltar and has served as the Governor's residence since 1728. Its whitewashed walls and historic courtyard make it one of the most recognizable buildings on the Rock of Gibraltar — a living symbol of Gibraltar's layered history of faith, conquest, and governance. A Note Worth Owning In Uncirculated condition, this 1988 note retains its original crispness — a snapshot of Gibraltar at the tail end of the Cold War, when the territory was navigating its unique identity between Britain, Spain, and the wider world. A compact piece of British colonial numismatic history, ideal for any Commonwealth or European collection.

Gibraltar P-20e 1 Pound 1988 UNC

Color: Multicolor
Front: Queen Elizabeth II at center right
Back: The Convent, Gibraltar (Governor's residence)
Watermark: Queen Elizabeth II portrait
Size: 134 × 67 mm (5.28 × 2.64 inches)
Issuing entity: Government of Gibraltar
Printer: De La Rue, London, United Kingdom
Signature: Brian Traynor (BT") — Financial and Development Secretary

Variety

This is P-20e, dated 4 August 1988, signed by Brian Traynor. It is the final and most common variety of the P-20 series, accounting for approximately 62% of known examples among collectors — making it the most frequently encountered date of this type.

The Rock and Its Currency

Gibraltar is a British Overseas Territory perched at the southern tip of the Iberian Peninsula, commanding the narrow strait that separates Europe from Africa. Its strategic importance has made it one of the most contested and celebrated pieces of land in history — held by Britain since 1704 and fiercely defended ever since. The Government of Gibraltar has issued its own pound sterling-equivalent currency since decimalization in 1971, with notes printed by the legendary De La Rue firm in London.

Queen Elizabeth II

The obverse features the iconic portrait of Queen Elizabeth II, who reigned from 1952 until her passing in September 2022 — the longest-reigning British monarch in history. Her image graced the currency of dozens of nations and territories across the Commonwealth, and her presence on Gibraltar's notes reflects the territory's enduring constitutional ties to the Crown. This 1988 note captures her in the mature, dignified portrait style uséd across British territories during the late 20th century.

The Convent — Gibraltar's Governor's Residence

The reverse depicts The Convent, the official residence of the Governor of Gibraltar. Originally a Franciscan friary founded in 1531, it was seized by the British military after the capture of Gibraltar and has served as the Governor's residence since 1728. Its whitewashed walls and historic courtyard make it one of the most recognizable buildings on the Rock of Gibraltar — a living symbol of Gibraltar's layered history of faith, conquest, and governance.

A Note Worth Owning

In Uncirculated condition, this 1988 note retains its original crispness — a snapshot of Gibraltar at the tail end of the Cold War, when the territory was navigating its unique identity between Britain, Spain, and the wider world. A compact piece of British colonial numismatic history, ideal for any Commonwealth or European collection.

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Banknote Grading Guide

Grades reflect overall market perception, not rigid defect counting alone. Notes sold from grouped inventory may vary slightly within grade. Individual defects such as foxing, writing, or small marks may be reflected in the grade rather than always itemized separately. Buyers may return any note within 14 days of receipt; satisfaction is guaranteed.

  • UNC (Uncirculated ~60-70): folds none; handling none to trace; paper crisp; corners sharp; splits/tears none; missing pieces none; surface clean; impressions (counting-band or security-thread half-moon) permitted if there is no paper break, fiber disturbance, or ink/design loss.
  • AU/UNC (Almost Unc. Plus ~55-58): folds 1 very light fold (soft bend, no sharp crease, no design break) or up to 3 corner bends; handling trace; paper crisp; corners nearly sharp.
  • AU (Almost Unc. ~50-53): folds 1 light fold or 2 very light folds; handling light; paper crisp to slightly relaxed; corners slightly rounded.
  • XF+ (Extra Fine Plus ~45-48): folds 2-3 light folds; handling light; paper crisp to regular; edges minor wear begins.
  • XF (Extra Fine ~40-44): folds 3-4 light to moderate folds; handling moderate; paper crisp to regular; edges/splits minor splits may appear.
  • VF+ (Very Fine Plus ~35-39): folds 4-6 moderate folds; handling moderate; paper regular to semi-limp; splits minor and more common.
  • VF (Very Fine ~30-34): folds 6-8 moderate to heavy folds; paper semi-limp; splits small but typical; surface light soiling visible.
  • VFâ (Very Fine Minus ~25-29): folds 8-12 heavy folds; paper semi-limp to limp; splits moderate; surface duller; foxing/writing may be present and reflected in grade without separate notation.
  • F (Fine 15-20): folds 12-15 heavy folds, may include very heavy folds; paper limp; splits frequent; tears up to 10 mm, limited in number; missing pieces up to 3 small edge/corner pieces, each up to about 3Ã3 mm; foxing/writing may be present and reflected in grade without separate notation.
  • Fâ (Fine Minus ~12-14): folds numerous very heavy folds; paper limp; splits common; tears up to about 15 mm; missing pieces up to 5 small pieces, each up to about 5 mm; foxing/writing may be present and reflected in grade without separate notation.
  • VG/F (Very Good to Fine ~10-12): folds dense network of very heavy folds; paper very limp; splits heavy; tears common; missing pieces multiple; foxing/writing may be minor or significant and reflected in grade without separate notation.
  • VG (Very Good ~8-10): folds severe overlapping very heavy folds; paper very limp; splits heavy with edge damage; missing pieces multiple; surface poor eye appeal; foxing/writing may be minor or significant and reflected in grade without separate notation.

Definitions

  • Handling: surface fatigue without structural change; loss of crispness, slight dulling, and/or micro-flexing; not a true fold.
  • Fold severity: very light = bend only, no sharp crease, no ink disturbance; light = thin crease, clean line, no ink loss; moderate = visible pressure, slightly widened line; heavy = broad crease, may vary slightly in placement; very heavy = thick, uneven, with weakened or partially lost design along the fold.
  • Half-moon / band impression: curved pressure mark from a counting strap or internal security thread; acceptable in UNC if the paper is not broken and there is no fiber or design disturbance; if flattening or disturbance is visible, the note is typically AU/UNC or lower. A simple central-bank band impression is generally less serious than a mark that visibly disturbs the printed design.
  • Foxing: age-related spotting. Minor foxing typically lowers a note about one grade step; major foxing lowers it multiple steps.
  • Pen marks / writing: minor means under about 2 cm² total visible writing; major means more than ~2 cm² or visually dominant writing. Minor writing lowers a note one grade step; major writing lowers it multiple steps.
  • Tears / splits / missing pieces: structural defects. These must remain within the limits of the assigned grade; excessive size, count, or severity forces a downgrade.
  • When foxing, writing or tears downgrade a note, the issue may be absorbed into the assigned grade without explicit mention.