1 Pound Herm Island coupon

Herm Island, a private island in the Bailiwick of Guernsey with a permanent population rarely exceeding fifty, issued these pound coupons under the administration of tenant Peter Wood, who leased the island from the States of Guernsey. They functioned as an internal scrip rather than a true circulating currency — usable only within the island's single shop and hotel — and had no legal tender status anywhere, including Guernsey itself.

The watermark is a curiosity for an issue of this scale and obscurity. Few private island scrips of the period bothered with any security feature at all.