10 Scudi

The Banco di Malta was established under British administration in 1809, making it one of the earliest colonial banking institutions in the Mediterranean. This 1812 issue came during a period when Malta's monetary situation was genuinely chaotic — Spanish and Portuguese silver coins, French assignats, and various other foreign currencies were all in concurrent use, and the Bank's notes struggled for public acceptance against a population with deep-rooted preference for metallic money.

The denomination in scudi reflects the pre-existing Maltese monetary unit carried over from the Knights of St. John rather than any British system — an unusual accommodation to local convention that the colonial administration maintained for practical reasons. The Bank was wound up in 1818, limiting this series to just nine years of possible issue.