Timeline

• 1804-1813
• Issuance of silver coins (tokens) by the Bank of Ireland, they were legal tender in Ireland but could not be exported to Great Britain:
  - 10.07.1804: Law [44 Geo III, c.71] authorizing the Dollar of 6 Shillings Irish
  - 17.05.1805: Law [45 Geo III, c.42] authorizing the first issue of 10, 5 Pence Irish
  - 14.04.1808: Law [48 Geo III, c.31] authorizing the 30 Pence Irish
  - 10.07.1813: Law [53 Geo III, c.106] authorizing the second issue of 10, 5 Pence Irish.
• 27.06.1825
• Currency Act [6 Geo IV, c.79] on the abolition of the Irish accounting and exchange of subsidiary coinage at a rate of 1 Shilling Sterling = 13 Pence Irish; effective 05.01.1826
• 21.07.1845
• Law [Bankers (Ireland) Act, 8 & 9 Vict, c. 37] authorizes the paper money issuance by five commercial banks; effective immediately:
  - Bank of Ireland (founded 1783); Belfast Banking Company (founded 1827); National Bank of Ireland (founded 1835); Northern Banking Company (founded 1809); Provincial Bank of Ireland (founded 1825); Ulster Bank (founded 1836).

Timeline

• 13.04.1926
• Law [Coinage Act - Eight Coighneála, No. 14] on the specification of the subsidiary coinage; effective immediately
• 20.08.1927
• Law [Currency Act - Eight Airgid Reatha, No. 32] on the creation of the currency; effective immediately:
  - Specification of the gold coinage (not implemented)
  - Creation of the Currency Commission for the supervision of the currency
  - Legal tender status of so-called "consolidated banknotes" issued by eight commercial banks: Bank of Ireland (founded 1783); National Bank of Ireland (founded 1835); Northern Banking Company (founded 1809); Provincial Bank of Ireland (founded 1825); Ulster Bank (founded 1836); Hibernian Bank Ltd (founded 1825); Munster & Leinster Bank Ltd (founded 1885); Royal Bank of Ireland Ltd (founded 1836, took over the Belfast Bank in 1923).
• 12.12.1928
• Start of currency exchange:
  - 12.12.1928: Start of issuance of the new "consolidated" banknotes and coins
  - 06.05.1929: Demonetization of the former private paper money
  - Britisch coins remained legal tender.
• 01.02.1943
• Start of operations of the Bank of Ireland and expiration of the issuance privilege for paper money of the "consolidated" banks:
  - 31.12.1953: Demonetization of the "consolidated" banknotes which had to be redeemed and exchanged by the issuing banks (the withdrawal occurred in steps: 31.12.1944 - 31.12.1947 - 31.12.1950 - 31.12.1953).
• 27.12.1950
• Law [Coinage Act - Eight Coighneála, No. 32], confirms the legal tender status of British coins; effective immediately
• 30.07.1969
• Law [Decimal Currency Act - Eight um Airgead Reatha Deachúil, No. 23] on the decimalization of the subunit; effective 15.02.1971

Valuation Regimes

• 1927-1979
• Fixed rate against British Pound
• 1979-1998
• Variable rate

Timeline

• 03.05.1998
• Decision of the European Council [CELEX 31998D0317] to admit 11 member states to the European Monetary Union; effective 01.01.1999
• 31.12.1998
• Ordinance of the European Council [CELEX 31998R2866], determines the irrevocable conversion rates for the 11 member countries; effective 01.01.1999
• 01.01.1999
• Start of currency exchange:
  - 01.01.1999: Introduction of the European Euro as a unit of account (while retaining the national banknotes and coins) at a rate to the Irish Pound of 1 : 0.787564
  - 01.01.2002: Start of issuance of banknotes and coins denominated in Euro
  - 28.02.2002: Demonetization of the banknotes and coins in Irish Pound.