Are Guernsey notes backed by precious metal?

When the Guernsey notes were originally issued, a Pound Sterling was a known quantity of silver.
The silver backing has since been withdrawn. Guernsey is on the same fiat standard we are,
but they have a way of measuring what their monetary needs are based on the British Pound.
The Pound is still the standard.

Leave a comment

Your email address will not be published.