10 Pounds - Elizabeth II End of World War I - Propaganda

Alderney occupies a peculiar position in the history of the First World War — the island was never occupied, but its proximity to the French coast made it a staging point of some strategic interest, and its small population contributed disproportionately to British enlistment rolls. The Channel Islands issued no currency of their own during the conflict, remaining entirely dependent on British supply lines throughout.

The KM# 137.1 designation distinguishes this from at least one variant striking, suggesting differing finishes or packaging configurations were produced for the same underlying type — a common practice in the modern commemorative market where collector sets drive secondary variants.