1 Pound

Gibraltar's currency has never been issued by a central bank — the Government of Gibraltar itself has always acted as the direct monetary authority, an arrangement rooted in the territory's colonial status rather than any deliberate financial architecture. This note circulated across a long series spanning nearly five decades, during which the design plates saw only minor revision. De La Rue held the printing contract continuously throughout, which was standard practice for British dependent territories of the period.

The longevity of the P#12 series is itself the notable detail: few government-issued pound notes anywhere remained in active production this long without a fundamental redesign.