Biafran pound
Encyclopedia
The Biafran pound was the currency
of the breakaway Republic of Biafra
between 1968 and 1970.
The first notes denominated in 5 shillings and £1 were introduced on January 29, 1968. A series of coins was issued in 1969; 3 pence, 6 pence, 1 shilling
and 2½ shilling coins were minted, all made of aluminium
. In February 1969, a second family of notes was issued consisting of 5 shilling, 10 shilling, £1, £5 and £10 denominations. Despite not being recognised as currency by the rest of the world when they were issued, the banknotes were afterwards sold as curios (typically at 2/6 (=.0125 GBP) for 1 pound notes in London philately
/notaphily
shops) and are now traded among banknote collectors at well above their original nominal value.
The most common note is the 1968 1 Pound, with the 10 Pound and all coins being rare.
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of the breakaway Republic of Biafra
Biafra
Biafra, officially the Republic of Biafra, was a secessionist state in south-eastern Nigeria that existed from 30 May 1967 to 15 January 1970, taking its name from the Bight of Biafra . The inhabitants were mostly the Igbo people who led the secession due to economic, ethnic, cultural and religious...
between 1968 and 1970.
The first notes denominated in 5 shillings and £1 were introduced on January 29, 1968. A series of coins was issued in 1969; 3 pence, 6 pence, 1 shilling
Shilling
The shilling is a unit of currency used in some current and former British Commonwealth countries. The word shilling comes from scilling, an accounting term that dates back to Anglo-Saxon times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The word is thought to derive...
and 2½ shilling coins were minted, all made of aluminium
Aluminium
Aluminium or aluminum is a silvery white member of the boron group of chemical elements. It has the symbol Al, and its atomic number is 13. It is not soluble in water under normal circumstances....
. In February 1969, a second family of notes was issued consisting of 5 shilling, 10 shilling, £1, £5 and £10 denominations. Despite not being recognised as currency by the rest of the world when they were issued, the banknotes were afterwards sold as curios (typically at 2/6 (=.0125 GBP) for 1 pound notes in London philately
Philately
Philately is the study of stamps and postal history and other related items. Philately involves more than just stamp collecting, which does not necessarily involve the study of stamps. It is possible to be a philatelist without owning any stamps...
/notaphily
Notaphily
Notaphily is the study of paper money or banknotes. A notaphilist is a collector of banknotes, paper money, paper currency or plastic notes.-History:It is believed that people have been collecting paper money for as long as it has been in use...
shops) and are now traded among banknote collectors at well above their original nominal value.
The most common note is the 1968 1 Pound, with the 10 Pound and all coins being rare.
See also
- Nigerian poundNigerian poundThe pound was the currency of Nigeria between 1907 and 1973. Until 1958, Nigeria used the British West African pound, after which it issued its own currency. The pound was subdivided into 20 shillings, each of 12 pence...
- Nigerian nairaNigerian nairaThe naira is the currency of Nigeria. It is subdivided into 100 kobo.The Central Bank of Nigeria is the sole issuer of legal tender money throughout the Federation. It controls the volume of money supply in the economy in order to ensure monetary and price stability...
- Postage stamps and postal history of BiafraPostage stamps and postal history of BiafraThis is a survey of the postage stamps and postal history of Biafra.The Republic of Biafra was a secessionist state in south-eastern Nigeria which existed from 30 May 1967 to 15 January 1970...