£2 note issued by Evans, Jones, Davies & Co.

Aberystwyth, Wales, AD 1814

The Bank of the Black Sheep

In the first half of the nineteenth century, most towns in Great Britain had their own local banks, each of which issued its own banknotes. The banks were usually set up by local merchants or businessmen, often as an extension of their other interests. They provided a range of banking services to local customers and supported local industries. A sound reputation was important for a bank's success, and issuing notes was an opportunity for advertisement. Like Bank of England notes of the period, most carried small pictures that reflected the bank's local or business links.

This note is from the Aberystwith and Tregaron Bank of Evans, Jones, Davies & Co. However, the business was popularly known as the Bank of the Black Sheep, because of the design on the notes. The number of sheep shown depended on the value of the note, the lower value ten shilling note apparently carrying a black lamb!

R.C. Jones, Arian: the story of money and (Swansea, 1978)

V.H. Hewitt and J.M. Keyworth, As good as gold: 300 years of (London, The British Museum Press, 1987)