Banknotes of the Black Sheep Company of Wales Limited were sterling banknotes issued between June 1969 and 1972
by the Welsh banker Richard Hugh Williams of Llandudno, Wales whose signature appears on the notes. The notes were a private issue by Williams's private
banking venture, and each issue had to be approved by the Board of Trade. Although not official legal tender in
Wales, they would have enjoyed a similar status to Scottish and Northern Irish banknotes as promissory notes.
Williams had to send his banknotes to the Inland Revenue at Somerset House prior to issue; according to the law
of the time, promissory notes each attracted a stamp duty payment by Williams of 2d, and notes were stamped with a
"two pence" duty stamp. The Board of Trade imposed numerous restrictions on the denominations permitted, Williams's
use of the term "ŁG" (meaning "Welsh pound", suggesting a separate currency) and his use of the Prince of Wales's
feathers in the designs. Williams ceased production of the notes and he was eventually declared bankrupt by Bangor
Crown Court in 1978.
Most notes were sold as souvenirs in the form of cancelled and specimen notes, rather than as redeemable