Aberystwyth and Tregaron Bank facts for kids

The Aberystwith and Tregaron Bank was a special kind of bank that started in Aberystwyth, Wales, in the early 1800s. People often called it 'Banc y Ddafad Ddu', which means 'The Black Sheep Bank'. This was because its bank notes had a cool picture of a black sheep on them! The bank later opened another branch in Tregaron.

Many years later, in the 1960s and 1970s, a man named Richard Williams was inspired by these unique notes. He even created his own similar notes.

Black Sheep Banknotes

The bank printed notes in different amounts. These included ten shillings, £1, £2, and even up to £10. The number of sheep on the note usually matched the amount of money it was worth. For example, a £2 note had two sheep.

However, the £5 and £10 notes were a bit different. They showed one or two rams instead of sheep. The ten shilling note, which was a smaller amount, had a picture of a cute lamb.

The very first notes were printed on October 1, 1810. They were signed by William Davies, one of the bank's founders. You can find notes signed by either John Evans or William Davies. All these notes were made between 1810 and 1814.

Today, some of these original Black Sheep bank notes are kept in museums. You can see them at the British Museum and Ceredigion Museum. The Llanidloes Museum also has some special notes from the bank.

Banknote of the Aberystwith and Tregaron Bank

Who Ran the Bank?

The main people who started and ran the Aberystwith and Tregaron Bank were John Evans, Joseph Jones, and William Davies. They were important figures in the local community.

Tregaron Branch Opens

In 1810, the bank opened a new branch in Tregaron. This area was very busy at the time. Its economy was strong because of things like wool production, cattle droving, and farming. Many other local businesses, like blacksmiths and pubs, also helped the area thrive.

Why the Bank Closed

The bank started having problems around 1811. An advertisement in a local newspaper tried to reassure people that the bank was still open. It said the bank would continue despite "enemies" trying to harm its reputation.

Sadly, by 1815, the bank had to close down. This is called going into administration or bankruptcy. The bank asked people who held their notes to bring them in to get their money back. Even in 1820, there were still some debts that needed to be paid to the bank.

Some of the old notes have a special stamp on them. This stamp shows that a first payment of 6 shillings and 8 pence for every pound was made to the note holders. However, it seems no more money was ever paid back to them.

Inspired by the Black Sheep

In the late 1960s and early 1970s, a man named Richard Williams from Llandudno created his own private banknotes. He even paid a small tax on them, which he felt made them "officially" recognized.

His first notes were from a company called "y Prif Trysorfa Cymru Cyfyngedig" (which means "the Chief Treasury of Wales Ltd"). Because the notes were in Welsh, officials didn't immediately realize what the company name meant.

When officials asked him to change the company name, Williams chose "Cwmni y Ddafad Ddu Gymreig Cyfyngedig." This translates to "the Black Sheep Company Ltd." He was directly inspired by the old Aberystwith & Tregaron Bank notes! Again, it seems the officials didn't know the history behind the name, and they stamped these notes as well.

Other Banks in Aberystwyth

The Aberystwith and Tregaron Bank wasn't the only bank in town. Other banks in Aberystwyth included Bank Y Llong and Aberystwyth Provident Bank for Savings. Both of these banks also had branches on Bridge Street in Aberystwyth.

See also

• Banknotes of the Chief Treasury of Wales Limited
• Banknotes of the Black Sheep Company of Wales Limited