1 pound 1940

Common. While this specific Pick number (P-178b) from 1940 is not exceptionally common, the denomination, issuer, and period were produced in substantial quantities. eBay market data shows consistent sales activity with multiple examples of PMG 66-graded specimens selling between $190-$224 from 2017-2020, indicating adequate collector market supply. The presence of multiple comparable sales at this grade level, combined with catalog values of $70 for UNC condition, confirms this is a regularly encountered note for serious collectors of Northern Irish currency rather than a scarce or rare issue.

Northern Bank Limited was established in 1824 and remained one of Northern Ireland's principal note issuers throughout the 20th century. The 1940 date places this note during World War II, a period when Northern Ireland maintained its own banking institutions distinct from the Republic of Ireland following the 1922 partition. The depicted sailing ship and industrial harbor infrastructure reflect Northern Ireland's historical dependence on maritime trade and shipbuilding industries, particularly the prominence of Belfast's shipyards during this era.

The obverse (front) features a prominent maritime scene in the center-upper portion depicting a sailing ship in an industrial harbor setting with visible crane infrastructure, symbolizing Northern Ireland's maritime and industrial importance. The design is framed by intricate ornamental borders with geometric patterns and decorative rosettes positioned at all four corners. The denomination 'ONE POUND' appears prominently at the bottom center in elaborate cartouche frames, while the word 'ONE' is displayed in large blue letters across the center of the note. Serial numbers with black prefix appear on both left and right sides. The reverse (back) displays three ornamental rosette designs—a large central rosette containing the letter 'B' (representing Northern Bank) flanked by two smaller matching rosettes each containing the numeral '1' (denomination), all rendered in blue on a light gray background with elaborate geometric and floral ornamentation.

Front side: 'Northern Bank Limited' (bank name), 'ESTABLISHED 1824' (founding date), 'ONE POUND' (denomination), 'THE NORTHERN BANK LIMITED' (full bank title), 'T.H. White' (signature of authority/official), Serial number 'N-I/H 002398'. Back side: The reverse features primarily ornamental design elements with rosette frames containing the letter 'B' (bank initial) and numerals '1' (denomination). PMG certification marking shows grade 'Sixty Six' (66) with 'Exceptional Paper Quality' notation and certification reference '5002445-005'.

This note employs traditional intaglio (steel engraving) printing, evidenced by the sharp, crisp line work visible throughout and the exceptional definition of the fine geometric patterns and ornamental borders. The intricate detail work in the rosette frames, decorative corner elements, and security features reflects the high-quality engraved plate work characteristic of premium British Commonwealth currency production. Northern Bank notes of this period were typically produced by established security printers specializing in currency production, though the specific printer is not identified in available catalog data.

This example is graded as Pick 178b, the 'b' designation typically indicating a specific variety within the 1940 Northern Bank 1 Pound issue. The signature of T.H. White appears on this specimen. The serial number prefix 'N-I/H' with black printing is noted. Varieties of Northern Bank notes from this period are typically distinguished by signature combinations, serial number prefixes, and minor design elements. The 'EPQ' (Exceptional Paper Quality) designation from PMG indicates this particular note represents an exceptional example of the type with notably high quality paper and printing characteristics.