Bank of England note issues Queen Elizabeth II agreed to allow the use of her portrait on the notes. The Series C £1 note was withdrawn on 31 May 1979. On 9 February 1978 the Series D design (known as the "Pictorial Series") featuring Sir Isaac Newton on the reverse was issued, but following the introduction on 21 April 1983 of the £1 coin, the note was withdrawn from circulation on 11 March 1988. The first Bank of England £5 note was issued in 1793 in response to the need for smaller denomination banknotes to replace gold coin during the French Revolutionary Wars. (Previously the
Bank of England £50 note the Series G polymer £20 note). Peter Sands, an advisor to the British Government and former Chief Executive of Standard Chartered, has raised concern with the Bank of England over high denomination notes and their role in tax evasion. He claimed that scrapping the £50, and other high denomination notes such as the CHF 1000 and $100, would reduce financial crime. Information taken from Bank of England website. Bank of England £50 note The Bank of England £50 note is a banknote of the pound sterling. It is the highest denomination of banknote issued for public circulation by the Bank