1 pound 1979

Common. This note, while from a smaller issuing authority (Gibraltar), circulated during a 1975-1988 series period with multiple variants (at least 9 catalogued by PMG). eBay market data demonstrates consistent availability with notes in Fine condition selling for $2-7 and UNC examples ranging from $10-20 historically, indicating regular circulation in the collector market. The 2019 catalogue value of $110 for UNC represents a multi-year high, but more recent sales data suggests typical UNC examples realize $15-40, positioning this as an accessible, commonly available note rather than a scarce variety.

Issued on 15th September 1979 under the authority of the Currency Note Ordinance Cap 33 by the Government of Gibraltar, this note commemorates Gibraltar's distinctive political and economic position. The obverse features Queen Elizabeth II as the reigning British monarch, reflecting Gibraltar's status as a British Overseas Territory, while the reverse depicts a prominent brick building with Gothic architectural elements representative of Gibraltar's institutional heritage and colonial administration during this period.

The obverse features a formal three-quarter portrait of Queen Elizabeth II positioned at center-right, rendered in mauve and brown tones, wearing a tiara and pearl necklace. The Rock of Gibraltar appears in simplified profile on the left side, establishing the territorial identifier. The coat of arms with castle and lions insignia is positioned at bottom center. Ornate decorative borders frame the entire design with classical £1 denomination symbols in the corners. The reverse displays an architectural study of a substantial brick institutional building with Gothic revival elements — multiple stories, arched windows and doorways, and a pitched roof — rendered entirely in brown and mauve engraving. This building likely represents a government or administrative structure significant to Gibraltar's governance. Decorative filigree patterns and £1 symbols complete the reverse design in matching corners.

FRONT: 'ISSUED BY THE GOVERNMENT OF GIBRALTAR' — Indicates the issuing authority; 'UNDER AUTHORITY OF THE CURRENCY NOTE ORDINANCE CAP 33' — Legal authorization for the currency; 'ONE POUND GIBRALTAR' — Denomination and territory; '15th Sept 1979' — Issue date; 'J826519' — Serial number (appears twice); 'CURRENCY NOTES ARE LEGAL TENDER IN GIBRALTAR FOR THE PAYMENT OF ANY AMOUNT' — Legal tender declaration; 'FINANCIAL AND DEVELOPMENT SECRETARY' — Authorized signatory title; 'THOMAS DE LA RUE & COMPANY, LIMITED' — Printer attribution. BACK: '£1' — Denomination symbol; 'ONE POUND' — Denomination text.

Intaglio engraving (line engraving) throughout, executed by Thomas De La Rue & Company, Limited, the renowned London security printer. The fine line detail work, intricate background patterns, and precise portrait rendering are characteristic of high-quality intaglio currency production. Security features include fine line engraving across both sides, detailed filigree patterning, and the precision engraving of architectural and portrait elements to inhibit counterfeiting.

This note is catalogued as Pick-20b, characterized by Thomas De La Rue printing with Queen Elizabeth II watermark. The PMG population report identifies this as one of nine documented varieties for the base Pick number (P-20a through P-20e, plus specimen and special variants). The 1979 date and J-series serial number (J826519) are consistent with this variety. No overprints, signature variations, or unusual prefixes are evident in this example that would distinguish it as a sub-variety.