1 pound 1922

Common. This is a standard regular-issue Currency Note from the 1922-1923 issuance period (Pick P-359a). The eBay market data provided shows multiple VF and F-graded examples selling between $52-$96 in recent years, with catalogue values for VF condition at approximately $96 (2014 auction result) and EF at $240. The high volume of transaction data and consistent pricing across multiple sales indicates this is a well-circulated and readily available note among collectors. While it holds historical significance as a George V-era Treasury note, the print run was substantial and many examples survive in collectible condition.

This note was issued under the authority of the Currency Act (4 & 5 Geo. V, Ch. XIV) during the reign of King George V, as indicated by the Latin inscription 'D.G. BRITT: OMN: REX F.D.' on the portrait medallion. The Palace of Westminster depicted on the reverse symbolizes the constitutional authority backing the currency, while the St. George and Dragon imagery on the obverse reflects the heraldic traditions of the British Crown. This series represents the transition period of British Currency Notes, issued when the Bank of England was gradually assuming full responsibility for note issuance.

The obverse features a formal layout with heraldic elements on the left side depicting Britannia (winged female figure) holding a trident alongside a rearing horse, with a dragon or serpent at the base—representing British sovereignty and power. A central rectangular panel contains the denomination and legal text. On the right side, a portrait medallion in an oval frame displays King George V in left-facing profile with a beard, surrounded by the circular Latin inscription honoring his reign. A royal crown adorns the top of the portrait. The reverse presents a detailed engraved architectural scene of the Palace of Westminster (Houses of Parliament) viewed from the River Thames, with Big Ben/Elizabeth Tower prominently featured on the right side and the Gothic Revival spires and towers of the Palace complex clearly rendered. The Thames River appears in the foreground with atmospheric clouds above.

FRONT SIDE: 'UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND' (sovereign designation); 'CURRENCY NOTES ARE LEGAL TENDER FOR THE PAYMENT OF ANY AMOUNT' (legal tender declaration); 'ONE POUND' (denomination); 'ISSUED BY THE LORDS COMMISSIONERS OF HIS MAJESTY'S TREASURY UNDER THE AUTHORITY OF ACT OF PARLIAMENT IV AND V. GEO. V. CH. XIV.' (issuing authority and legal basis); 'U1 53 N°. 928719' (serial number); '£1' (denomination symbol); 'SECRETARY TO THE TREASURY' (signatory designation); 'N.K. Simon Blake' (signature of authorized official); 'D.G. BRITT: OMN: REX F.D.' (Latin: 'By the Grace of God, King of All, Defender of the Faith'). REVERSE SIDE: 'ONE POUND' (denomination).

This note was produced using intaglio engraving, the standard security printing technique for British Currency Notes of this period. The fine line work, extensive crosshatching, shading, and intricate architectural detail visible throughout both sides demonstrate the high-security engraved printing characteristic of Treasury-issued notes. The printer for this series was typically De La Rue or Waterlow & Sons, though specific attribution would require additional documentation. The ornamental border designs and portrait work show the sophisticated anti-counterfeiting measures of the era through complexity of engraving rather than modern security features.

This specific example is catalogued as Pick P-359a, which is distinguished from Pick P-357 (similar design without the numeral '1' above the block letter) and Pick P-361 (which uses the title 'UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND' instead of the earlier 'UNITED KINGDOM OF GREAT BRITAIN AND IRELAND'). The serial number U1 53 No. 928719 and signature of N.K. Simon Blake are specific to this individual note. The '1' overprinted above the block letter prefix is the key identifying feature of the P-359a variety. The watermark pattern (ONE POUND in two lines at center with letter and figure 1 over number/dot) is consistent with the standard watermark specification for this issue.