One Guinea Bank Note, Newcastle-under-Lyme

Description:A Newcastle-under-Lyme bank note for one guinea (£1 and 1 shilling). Banks used to be able to issue their own bank notes until the Bank Charter Act of 1844 which gave exclusive note issuing rights to the Bank of England, as the government wanted more control over currency. Guineas were only issued between 1663 and 1813, but prices were usually shown in guineas until decimalisation in 1971.

Horwood, Nickisson, Sparrow, Ford and Plant, the men whose names appear on the note were all important and wealthy figures in town. All of them were burgesses, which means they had the right to trade. Sparrow and Horwood were given these rights free (gratis) which shows that they were important to the town council. John and Thomas Sparrow were close friends of Josiah Wedgwood and did the legal work for his pottery business in Etruria and for the Trent and Mersey Canal. William Nickisson was a clock maker and became Mayor in 1800-1801.