5 Pounds - Elizabeth II

Gibraltar's currency notes have always occupied an awkward political space — issued by a Crown colony with its own monetary authority but pegged one-for-one to sterling, they circulated locally while remaining largely unknown outside the Rock. This series ran across thirteen years without major redesign, a long tenure reflecting the territory's monetary conservatism rather than any printing constraint.

De La Rue's involvement dates back to Gibraltar's earliest modern issues. The watermark security on this series was relatively modest by the standards De La Rue was applying elsewhere in the 1970s, but Gibraltar's small population and limited note volume made sophisticated counterfeit deterrence economically unnecessary.