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| Obverse of the first permanent issue of Maltese notes. This one pound note circulated for three years until replaced by an identical one bearing the portrait of Queen Elizabeth II, which was released to commemorate her visit to the island in 1954. |
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| Reverse of the initial 1951 issue of the Board of Currency
one pound
note. The 1951 and 1954 issues were the product of Thomas De la Rue and Company. |
Maltese banknotes, Maltese paper money, Maltese bank notes, Malta banknotes, Malta paper money, Malta bank notes.
Malta Paper Currency
By the time World War II ended the Maltese had become used to their wartime emergency currency, which had proved a real convenience, especially when larger payments for goods and services were required. A decision was made to continue the issuance of a paper currency after the war. It was decided, however, to end the issue of temporary currency notes in favor of a permanent Maltese pound. This was accomplished by the Currency Note Ordnance of 1949, which placed the Maltese pound at par with the British pound sterling. The Board of Commissioners of Currency was set up as the sole body responsible for the issue of paper money. Bank of England notes then ceased to be legal tender in Malta.
The first Maltese notes appeared in 1951 in denominations of 10 shillings and 1 pound. They bore a portrait of King George VI together with a representation of the Cross of St. George on the obverse. It will be remembered that this award was bestowed upon the entire Maltese people in honor of their valiant defense of the island during the late war. The reverses of the first issue displayed a simple shield at the center
surrounded by ornamental leaves. The watermark is that of a female warrior clad in armor. Mr. Cushieri, the Maltese Treasurer, authenticated the 1951 issue.
When Queen Elizabeth II visited the island on 24 April, 1954, an identical set of notes was released to commemorate her royal visit. These notes bear the portrait of Elizabeth II in lieu of George VI. Initially the notes were signed by Cushieri and subsequently by Mr. D.S. Shepard, providing numismatists two varieties of the note.
Due to increased employment, greater industrial development, and the rise of tourism since the end of World War II; currency in circulation had been steadily increasing. This necessitated the release of Malta's first 5 pound note in June 1961. The note proved so popular in facilitating trade that it underwent several printings, the first of which carried the signature of Mr. D. A Shepard and the latter that of Mr. R. Soler, the Accountant General.
