1 Pound Jersey Bank - Philip Le Couteur

Philip Le Couteur operated one of several private banking houses active in Jersey during the early nineteenth century, when the island had no central issuing authority and individual merchants could — and did — put their own paper into circulation. These notes functioned on personal credit and local trust rather than any statutory backing. Le Couteur's bank did not survive long, and the failure of private Jersey banks in this period was common enough that contemporary islanders treated such paper with considerable caution.

The dual signature requirement — Le Couteur himself alongside Jean Salmon — suggests a partnership arrangement, though the precise terms are obscure. Survivors of this issue are genuinely rare.