an approximation to the pre-war exchange rate of 25.2 francs = 1 pound sterling, rather than the exact rate of 25.22. This conversion increased the value of the double from to of a pound. The World War I issues of banknotes were overstamped with the word "British" to indicate this change. New banknotes and British silver coinage circulated alongside the double coins, with 3-pence coins minted specially for Guernsey from 1956. In 1971, along with the rest of the British Isles, Guernsey decimalised, with the pound subdivided into 100 pence, and began issuing a full range of coin denominations from p to 50p (£1 and £2 coins followed later). Legal tender The Guernsey pound, and other notes denominated in sterling (including those issued by the Bank of England, Scottish, Manx and Northern Irish notes and the Jersey pound) may be used in Guernsey. The Guernsey pound is legal tender only in the Bailiwick of Guernsey although it also circulates freely in Jersey, while in the UK acceptance is often problematic. It can also be exchanged in other places at banks and bureaux de change. Coins Between 1830 and 1956, Guernsey's four coin denominations, 1, 2, 4 and 8 doubles, all carried very similar designs, with the Island's arms and name (spelled "Guernesey") on the obverse and the denomination and date on the reverse. In addition, the 8 double coins featured a wreath on both sides. In 1956, new designs were introduced for the 4 and 8 doubles (the lower denominations were no longer issued). These featured the Island's seal and name (now given as S'Ballivie Insule de Gernereve) on the obverse with the English name, the date and the Guernsey lily on the reverse. Threepence coins were also issued from 1956, with the same obverse and a reverse featuring the Guernsey cow. As in the UK, 5 and 10 new pence coins were introduced in 1968, followed by 50 new pence coins in 1969, before decimalisation took place in 1971 and the , 1 and 2 new pence coins were introduced. These coins were the same size and composition as the corresponding British coins. The word "new" was dropped in 1977. A £1 coin was introduced in 1981, two years before its introduction in the UK, although the 20 pence and £2 coins were introduced at the same time as in the UK: 1982 and 1998, respectively. The 1981 coin