The 1 Pound note is actually a discount coupon issued by the Herm Island Administration Office and gave out to island tourists. The visiters can save 1 pound during their stay in the island when spent in selected stores. This particular coupon was given to Mr. & Mrs. Fuller Senich (penned) and was good from 22.5.(19)58 to 5.6.(19)58.

The coupon can be redeemed at the Herm Island Administration Office. It was hand signed by Secretary and Accountant and the Tenant of Herm. Affixed to the face of the note is a 6 pence Herm Island postage stamp.

Herm Island is the smallest of the Channel Islands that is open to the public and is part of the Bailiwick of Guernsey. Guernsey now rent the island to a tenant, who is expected to maintain the island for the benefit of its visitors. Tourism is Herm's main source of income.