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British banknotes

This article concerns British banknotes, the banknotes of the United Kingdom and British Islands, denominated in pounds (GBP). For details of coins, see:


Contents

Issuing banks

Pound sterling banknotes are issued by:

Sterling banknotes are also issued by:

Bank of England notes are the only banknotes that are legal tender in England and Wales. Scottish, Northern Ireland, Jersey, Guernsey and Manx banknotes are not legal tender in England and Wales. However, they are not illegal under English law and creditors and traders may accept them if they so choose.

No banknotes are legal tender in Scotland (not even Scottish notes, which are 'promissory notes' - essentially cheques made out from the bank to 'the bearer', as the wording on each note says).

Issuers

Bank of England notes

In 1921 the Bank of England gained a legal monopoly on the issue of banknotes in England and Wales, a process that started in 1844 when the ability of other banks to issues notes was restricted.

The bank issued its first banknotes in 1694, although until 1745 they were written for irregular amounts, rather than pre-defined multiples of a pound. They did not become entirely machine-printed and payable to the bearer until 1855. The first coloured banknotes were issued in 1928, and were also the first notes to be printed on both sides.

As of November 2003 the Bank of England banknotes in circulation, known as Series E, are:

As of 2004, they are signed by the Chief Cashier, Andrew Bailey .

All the notes issued since Series C in 1960 also depict Elizabeth II of the United Kingdom in full view facing left and as a watermark, hidden, facing right; recent issues have the EURion constellation around.

The Bank of England Series D 1 pound note was discontinued in 1984, being replaced by a pound coin.

Bank of Scotland notes

A £50 Bank of Scotland note.
Enlarge
A £50 Bank of Scotland note.

In circulation:

All the notes also depict Sir Walter Scott who was instrumental in retaining the right of Scottish banks to issue their own notes in the 1840s.

Royal Bank of Scotland Notes

A £100 Royal Bank of Scotland note.
Enlarge
A £100 Royal Bank of Scotland note.

in circulation are:

All the notes also depict Lord Ilay (1682-1761), first governor of the bank.

Clydesdale Bank notes

A £20 Clydesdale Bank note.
Enlarge
A £20 Clydesdale Bank note.

Bank of Ireland notes

  • 5 pound note
  • 10 pound note
  • 20 pound note
  • 50 pound note

First Trust Bank notes

A £100 First Trust Bank bill.
Enlarge
A £100 First Trust Bank bill.

First Trust Bank's current notes depict generic people of Northern Ireland on the front, alternately male and female, but with a pair of older people on the £100. The obverse generally features designs associated with the Spanish Armada, or coastal features.

  • 5 pound note featuring Dunluce Castle on the obverse
  • 10 pound note featuring the Girona (galeass ) on the obverse
  • 20 pound note featuring the chimney at Lagada Point on the obverse
  • 50 pound note featuring a commemorative medal on the obverse
  • 100 pound note featuring the Armada on the obverse

Northern Bank notes

A £20 Northern Bank note.
Enlarge
A £20 Northern Bank note.
  • 5 pound polymer note featuring the U.S. space shuttle
  • 10 pound note featuring J.B. Dunlop on the front and the portico of Belfast's city hall on the back
  • 20 pound note featuring Harry Ferguson on the front and the portico of Belfast City Hall on the back
  • 50 pound note featuring Sir S.C. Davidson on the front and the portico of Belfast City Hall on the back
  • 100 pound note featuring Sir James Martin on the front and the portico of Belfast City Hall on the back

Following the theft of £22 million from its money handling centre in Belfast on 22 December 2004, allegedly by the Provisional IRA, Northern Bank announced on 7 January 2005 that all its notes were to be recalled and reissued in different colours and styles.

Ulster Bank notes

A £20 Ulster Bank note.
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A £20 Ulster Bank note.

Ulster Bank's current notes all share a rather plain design of a view of Belfast harbour flanked by landscape views; the design of the reverse is dominated by the banks' coats-of-arms. The principle difference between the denominations is their colour and size.

  • 5 pound note, purple.
  • 10 pound note, blue-green.
  • 20 pound note, purple.
  • 50 pound note, blue.

States of Jersey notes

The obverse of a Jersey £20 pound note.
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The obverse of a Jersey £20 pound note.
The reverse of a Jersey £20 pound note.
Enlarge
The reverse of a Jersey £20 pound note.

The Treasurer of the States of Jersey, Channel Islands, holds £1.10 in Bank of England notes for each £1 issued, making the Jersey Pound a very strong currency. The current notes depict Queen Elizabeth II on the front and various landmarks of Jersey or incidents in Jersey history on the reverse. The watermark is a Jersey cow

  • 1 pound note, green, St. Helier Parish Church (In 2004, a special edition £1 note is in general circulation alongside the St. Helier Parish Church note; this commemorative note marks the 800th anniversary of the division of the Duchy of Normandy in 1204 and the design consequently includes Mont Orgueil Castle and other historic symbols)
  • 5 pound note, purple, La Corbière lighthouse
  • 10 pound note, red, The Death of Major Pierson, Battle of Jersey, 1781
  • 20 pound note, blue, St. Ouen 's manor
  • 50 pound note, brown, Government House

States of Guernsey notes

Main article: Guernsey Pound

The monarch on bank notes

In the U.K., particularly in England, in recent years there have been comments relating to the option of adopting the Euro along the lines of: "we don't want to lose the Queen on our banknotes". This overlooks the fact that Queen Elizabeth II was the first British monarch to have her face on U.K. banknotes. Prior to the issue of its Series C banknotes in 1960, Bank of England banknotes did not depict the monarch. Even today, notes issued by the other note issuing banks do not depict the monarch.

As with the other states in the Eurozone, the UK would mint euro coins with its choice of design on the obverse side. The Eurozone monarchies (the Netherlands, Belgium, Luxembourg, and Spain) all have the effigy of their monarch on their coins.

External links

  • Bank of England banknote page http://www.bankofengland.co.uk/banknotes/index.htm
  • Committee of Scottish Clearing Bankers home page http://www.scotbanks.org.uk/index.htm

See also


Last updated: 02-07-2005 16:33:50
Last updated: 05-03-2005 02:30:17