Irish Banknote Guide: 180(4) Kinsale Corporation (3d note)

Early Irish Banknotes - an illustrated catalogue of private banks, joint-stock banks and tradesmens' notes. The Old Currency Exchange, Dublin, Ireland.

Date: c.1804

Few people had silver or gold coins, and those who did, hoarded them and did not use them unless they really had to. Most of the smaller change in circulation was unofficial, illegal tokens. In short, there was a local currency crisis.

  • The solution was small notes (an IOU) like the one below
  • It reads IO (= I owe the bearer) three pence !

180_ Kinsale (Corporation), Threepence (for the convenience of change). The Old Currency Exchange, Dublin, Ireland.

Kinsale, [Corporation], Threepence, 180–, unissued. Small tape repair on back top edge and three pinholes in right margin, otherwise very fine


Additional Information:

  • This is a rare note since these IOU’s worked very well and most were paid off.
  • This particular example was issued by Kinsale Town Corporation.

Was it a charitable initiative, or was there a mutual benefit? Most likely, a little bit of both for the Corporation officials may have used them as ‘change’ when traders paid their fees/taxes on market day.

  • Small traders would not have risked making a payment in tokens, or scrip.
  • They would have had to use ‘good silver coins’ which were in short supply.
  • With such a high percentage of low value tokens circulating, the Corporation officials might have felt unable to give change in tokens either.
  • This might have been a solution for their fiscal dilemma.

Other towns and corporations issued their own copper tokens for this purpose, e.g. farthings, halfpenny and penny tokens in Belfast, Cork, Dublin and Waterford over the centuries. Many of their tokens bear the words “for public benefit” and “for the poor” or such like. This is an unusual example of paper being used for such a small amount.

This brings us to another problem, i.e. what do we call it?

  • A bank did not issue it, so its not a banknote.
  • A trader didn’t issue it, so its not a trader’s note.
  • Collectors call them IOU’s and they were quite common in the 19th C in Ireland.

If anyone has a serious interest in collecting Irish banknotes, an essential tool is the excellent book (Paper Money of Ireland) by Bob Blake & Jonathan Callaway (Publ. by Pam West). They list it under Sundry Issues – a short section from page 80 to 97.


  • Paper Money of Ireland, Blake & Callaway, p. 87

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