is the scottish one pound note still in circulation
The Royal Bank of Scotland £1 note The Royal Bank of Scotland began issuing twenty shillings notes in 1727, the same year as the bank's founding. Early banknotes were monochrome, and printed on one side only. The issuing of banknotes by Scottish banks was regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009.[1] Though strictly not legal tender in Scotland, Scottish banknotes are nevertheless legal currency and are generally accepted throughout the United Kingdom. Scottish banknotes are fully backed such that holders have the same level of protection as those holding genuine Bank of England notes.[2] The Â£1 note is currently the smallest denomination of banknote issued by The Royal Bank of Scotland.[3]
Bank of England £1 note A new design for one pound notes was introduced in 1960, with the old notes ceasing to be legal tender in 1962. These new series C notes were slightly narrower, and were the first one-pound notes to feature a portrait of Queen Elizabeth II on the front. The reverse design incorporated the logo of the Bank of England. Series C notes were replaced by the series D notes from 1978 onward. These slightly smaller notes featured an entirely new design with Queen Elizabeth II on the front and scientist Isaac Newton on the back. The note was redesigned slightly in 1981 to feature brighter background colours.[2] Following a consultation with retailers and other groups it was announced on 31 July 1981 that the one pound note would be replaced by a one pound coin. Part of the reason for this change was that notes, on average, lasted only nine months in general circulation, while coins could last forty years or more. The government also believed that the growing vending industry would benefit from the introduction of a one-pound coin. The new cupro-nickel coin was introduced on 21 April 1983 and the one pound note ceased to be legal tender on 11 March 1988.[2][3]