Lady forced to move as a portrait while losing her position of note

The advent of the euro is forcing Lady Lavery from her Central Bank home.

The advent of the euro is forcing Lady Lavery from her Central Bank home.

The original Lady Lavery portrait, which has graced Irish bank- notes since 1928, will be leaving its home in the Central Bank next year for the National Gallery.

The enigmatic Sir John Lavery's portrait of "a beautiful Irish type" set against a Killarney background will be given on long-term loan to the gallery.

The bank has decided to release the portrait now because the image will disappear when the Irish Punt ceases to be legal tender on February 9th.The image is still visible as the watermark on the current series of notes, which was introduced between 1992 and 1996.

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The familiar portrait has a colourful history. In 1927, the Currency Commission was set up to issue Irish bank notes and coins and decided to commission a portrait that would feature on the notes.

After some debate, the Commission approached Sir John Lavery and asked him to paint "a portrait of a beautiful female head treated in some emblematic fashion which might perhaps have some Irish association".

The portrait, believed to be from an early portrait of Lady Lavery, an American-born society hostess, caused controversy when it was first reproduced on the new Irish Free State bank notes.

The head and shoulders was not officially meant to be a portrait of a recognisable public figure but it was known that Sir John's model was his wife.

The painting has been seen by few people since it was presented to the Commission 73 years ago.

Although it will no longer be a witness to fiscal-policy dramas in the Central Bank boardroom, the portrait will be well placed to capture public nostalgia for our old money in the National Gallery in years to come.