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The Irish Free State decided soon after its foundation in the 1920s to design its own coins and banknotes. It was decided that the Irish currency would be pegged to the pound sterling. The Coinage Act, 1926 [1] was passed as a legislative basis for the minting of coins for the state and these new coins commenced circulation on 12 December 1928.
The one pound (£1) (Irish: punt) coin, worth one Irish pound, was used in Ireland from 20 June 1990 until the formal adoption of euro currency in 2002. The last issue was minted in 2000. The coin was the largest Irish coin since decimalisation: its diameter was 3.11 centimetres (1.22 in) and it weighed 10 grams (0.35 oz).
The penny (1d) (Irish: pingin) coin was the third-smallest denomination of the pre-decimal Irish pound, worth 1 ⁄ 240 of a pound or 1 ⁄ 12 of a shilling. To express an amount, penny was abbreviated to "d", e.g. 1d, from the Roman denarius. It was introduced in 1928 to replace its British counterpart, used when all of Ireland was a ...
The last copper coins of the Irish pound were minted in 1823, and in 1826 the Irish pound was merged with the pound sterling. [6] After 1826, some Irish banks continued to issue paper currency, but these were denominated in sterling, and no more distinctly Irish coins were minted until the creation of the Irish Free State in the 20th century.
This series of notes had denominations of £5, £10, £20, £50 and £100. No Irish pound note was designed because the currency had a coin of this value since 1990. This series was introduced at short notice, with the £20 note being the first to be issued, following widespread forgery of the Series B £20 note.
A 2002 two-pound coin featured the flag of Northern Ireland to mark the 2002 Commonwealth Games. [1] These coins are not unique to Northern Ireland and circulate through the entire United Kingdom and other sterling area countries. The Giant's Causeway appeared on two five-pound coins in 2012; these are commemorative coins and are rarely circulated.
The sixpence (6d; Irish: réal [1] or reul Irish pronunciation: RALE) coin was a subdivision of the pre-decimal Irish pound, worth 1 ⁄ 40 of a pound or 1 ⁄ 2 of a shilling.The Irish name réal is derived from the Spanish real; for most of the 19th century, a pound sterling was equal to five U.S. dollars, and a dollar was equal to eight reales, so that a real was equal to 1 ⁄ 40 of a pound.
The shilling (1s) (Irish: scilling) coin was a subdivision of the pre-decimal Irish pound, worth 1 ⁄ 20 of a pound. Worth 12d or half of a Florin. The original minting of the coin from 1928 until 1942 contained 75% silver; this Irish coin had a higher content than the equivalent British coin.