The Silver Bank 1804, John Rose

Banknotes issued by Irish Private Banks ca1700–ca1833
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ThePloughman
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The Silver Bank 1804, John Rose

Post by ThePloughman » 10 Feb 2018 18:26

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 793 times

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DOC
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Re: The Silver Bank 1804, John Rose

Post by DOC » 13 Feb 2018 21:06

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.
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The Silver Bank 3s 9d & Halfpenny 14th June 1804.jpg
The Silver Bank 3s 9d & Halfpenny 14th June 1804.jpg (100.17 KiB) Viewed 125 times
Last edited by DOC on 10 Aug 2018 20:52, edited 1 time in total.

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Vellakare
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Re: The Silver Bank 1804, John Rose

Post by Vellakare » 20 Feb 2018 10:49

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

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Re: The Silver Bank 1804, John Rose

Post by DOC » 20 Feb 2018 19:19

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 ;)

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