Gibraltar is a British Overseas Territory and headland, on Spain's south coast. It’s dominated by the Rock of Gibraltar, a 426m-high limestone ridge. First settled by the Moors in the Middle Ages and later ruled by Spain, the outpost ceded into the British territories by 1713. Layers of fortifications include the remains of a 14th-century Moorish Castle and the 18th century Great Siege Tunnels, which were expanded in WWII.

The currency of Gibraltar is the Gibraltar pound, issued by the Government of Gibraltar under the terms of the 1934 Currency Notes Act. These banknotes are legal tender in Gibraltar alongside Bank of England banknotes. Today we are looking at a 1 pound banknote issued in 1988. The note specifications are as follows:

The obverse has the portrait of HM Queen Elisabeth II to right with the Rock of Gibraltar in the top left corner. The reverse features the Covenant of Gibraltar. This red note has the portrait of young Queen Elizabeth II in profile as its watermark.

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