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The Silver Bank 1804, John Rose

Posted: Sat Feb 10, 2018 6:26 pm
by ThePloughman
The Silver Bank 1804, Alderman John Rose.

This note is interesting in that there is only one owner named on it. Were there many Private Banks with just one partner, or am I missing something?
The design of the note is similar to notes of a bank of the same name but with different partners named on its notes.
I have to see if I can find a pic of one of the other notes.

Three Shillings Nine and a Half Pence note. Zany denomination too.

silver-bank-3-shillings-9-pence-1804.jpg
silver-bank-3-shillings-9-pence-1804.jpg (20.33 KiB) Viewed 555 times

Re: The Silver Bank 1804, John Rose

Posted: Tue Feb 13, 2018 9:06 pm
by DOC
I have seen other examples where just one partner is listed. The legal maximum was 6 partners but I am not aware of a restriction requiring more than one partner. The odd denomination relates to the fact that it is equivalent to 1/6th of a Guinea. This denomination was issued to compensate for the lack of silver coinage and such notes were known as Silver Notes.

There was also a Silver Bank based in Malahide with partners, Talbot and Glascock. I attach an example of their silver note.

The-Silver-Bank-14th-June-1804.jpg
The-Silver-Bank-14th-June-1804.jpg (37.92 KiB) Viewed 544 times

Re: The Silver Bank 1804, John Rose

Posted: Tue Feb 20, 2018 10:49 am
by Vellakare
3 Shillings 9 1/2 Pence is 1/6th of a Guinea in the Pre 1816 Irish Pound which was tarrifed at 13 pence Irish to 12 pence Sterling

Re: The Silver Bank 1804, John Rose

Posted: Tue Feb 20, 2018 7:19 pm
by DOC
Yes, that 13 pence Irish to 12 pence Sterling exchange rate is key to understanding how 3 Shillings 9 1/2 Pence Irish equals 1/6 Guinea.

1 Guinea is 21 shillings so 21 x 12 = 252 pence Sterling.
1/6 Guinea = 252/6 = 42 pence Sterling.
42 x 13/12 = 45.5 pence Irish.

3 shillings 9 1/2 pence = 3 x 12 + 9 + 0.5 = 45.5 pence Irish.

I think I understand it now ;)