Banknotes of Scotland: History and Evolution

Banknotes of Scotland have been in circulation for centuries, with the first recorded issue dating back to 1661. This was by the Royal Bank of Scotland.

The first banknotes were made of paper and were issued by the Royal Bank of Scotland, which was granted a royal charter in 1727. The bank's founders had a vision to create a more efficient system for trade.

The design of Scottish banknotes has evolved significantly over the years, with the introduction of new security features to prevent counterfeiting. One notable example is the introduction of the "polymer" banknote in 2013, which was made from a durable plastic material.

Today, banknotes from Scotland are highly collectible and can be a fun way to learn about the country's history and culture.

A fresh viewpoint: National Bank of Scotland

Banknotes of Scotland are issued by four different banks: the Royal Bank of Scotland, the Bank of Scotland, the Clydesdale Bank, and the Bank of Scotland's subsidiary, the Royal Bank of Scotland's subsidiary, National Westminster Bank.

These banks have been issuing banknotes for over 300 years, with the first notes being introduced in 1695 by the Bank of Scotland.

The Royal Bank of Scotland has been issuing its own banknotes since 1727, while the Clydesdale Bank started issuing notes in 1838.

On a similar theme: Swift Code of Royal Bank of Scotland

Clydesdale Bank notes have a unique history and design. The bank was the first in Great Britain to issue polymer banknotes in 2015.

These polymer notes are part of the World Heritage Series, which was introduced in 2009. The new notes feature notable Scots on the front and UNESCO World Heritage Sites on the reverse.

The polymer series includes £5, £10, and £20 notes, each with a different notable Scot on the front. The £5 note features Sir William Arrol, the £10 note features Robert Burns, and the £20 note features King Robert the Bruce.

The Clydesdale Bank also issued special-edition banknotes, such as a £10 note celebrating the bank's sponsorship of the Scotland team at the 2006 Commonwealth Games.

Here is a list of the current polymer series banknotes:

The Clydesdale Bank's polymer notes are still in circulation, but they are becoming rarer due to the bank's withdrawal from contracts to supply cash machines run by rival lenders.

Scotland's currency history is a fascinating tale of evolution and transformation. The first Scottish banknotes were issued in 1695 by the Bank of Scotland, making it the oldest bank in the UK.

The first notes were made of a mixture of paper and linen, and were known as "notes of hand" or "bills of exchange". These early banknotes were often handwritten and lacked any security features.

In 1704, the Royal Bank of Scotland was established, and it began issuing its own banknotes. These notes were initially handwritten, but later became printed on paper.

The first £1 note was introduced by the Bank of Scotland in 1727, and it featured a vignette of the bank's founder, William Paterson. This was a significant milestone in the development of Scottish currency.

The use of paper money became more widespread in the 18th century, and banknotes began to feature intricate designs and security features to prevent counterfeiting.

Recommended read: Currency in Ireland and Scotland

The Scottish banknotes are a treasure trove of unique designs and historical references. The Royal Bank of Scotland's £100 note, for example, features a portrait of Sir Walter Scott, a famous Scottish novelist and poet.

The Bank of Scotland's £100 note, on the other hand, showcases a stunning image of the Scottish landscape, including Ben Nevis, the highest mountain in the UK. This note is a must-have for any nature lover.

The Clydesdale Bank's £100 note is dedicated to the life and work of William McEwan, the founder of the bank. His legacy lives on through the bank's commitment to innovation and progress.

The Royal Bank of Scotland's £50 note features a portrait of the 16th-century Scottish explorer, John Rae. His bravery and determination continue to inspire people to this day.

The Bank of Scotland's £50 note, meanwhile, highlights the country's rich cultural heritage, with a beautiful image of the Scottish Crown Jewels. These precious artifacts are a symbol of Scotland's rich history.

Explore further: 50 Pound Banknote

The Clydesdale Bank's £50 note showcases the stunning architecture of Glasgow's City Chambers, a masterpiece of Victorian design. This building is a testament to the city's rich cultural heritage.

The Royal Bank of Scotland's £20 note, for instance, features a portrait of John Knox, a key figure in the Scottish Reformation. His influence on Scottish history is still felt today.

The People's Money is a unique series of bank notes that celebrates Scotland's culture and natural world. Collaborating with Scotland's best design agencies, the Royal Bank of Scotland has created a series of bank notes that are considered pocket-sized works of art.

Design consultancy Nile, O Street, Stuco Design, and Timorous Beasties have played a central role in the design process, with almost 30 different designers involved to date. Timorous Beasties were tasked with illustrating elements of the Scottish natural world, including otters, mackerel, red squirrels, and midgies.

The series concept is based on a connected story gathered from over one thousand conversations with people across the country. Care was taken to create individual stories within each note, including four different tweed patterns created to reflect each note's denomination colour and poetry to connect the type of landscape element and animals represented.

Alistair McAuley, director of Timorous Beasties, notes that this unique campaign has allowed them to work with a varied group of designers, makers, poets, writers, historians, and zoologists on an idea developed by the people of Scotland. This has created not only a monetary token but also promotes a valuable cultural exchange both nationally and internationally.

Scotland's banknotes are a unique aspect of the country's financial system, with several banks issuing their own notes. The Bank of Scotland and Clydesdale Bank are two of the most well-known issuers.

All Bank of Scotland notes feature a portrait of Sir Walter Scott on the front, commemorating his 1826 campaign for Scottish banks to retain the right to issue their own notes. The Bank of Scotland's 2007 series of banknotes, known as the Bridges of Scotland series, showed Scotland's most famous bridges on the reverse side.

The Clydesdale Bank issued its first polymer series in March 2015, becoming the first bank in Great Britain to do so. The £5 commemorative note, issued to mark the 125th anniversary of the construction of the Forth Bridge, contains several new security features.

The polymer series of the Clydesdale Bank continues the theme of the World Heritage Series of paper banknotes, introduced in autumn 2009. The new notes each depict a different notable Scot on the front and on the reverse bear an illustration of one of Scotland's UNESCO World Heritage Sites.

Here's a list of the current polymer series banknotes issued by the Bank of Scotland and Clydesdale Bank:

The Bank of Scotland's polymer series was introduced in 2016, replacing the older paper notes. The Clydesdale Bank's polymer series was introduced in 2015, also replacing older paper notes.