Bank of Ireland £5 note remained effectively unchanged for 120 years. Northern Irish banknotes are fully backed such that holders have the same level of protection as those holding genuine Bank of England notes. The £5 note is currently the smallest denomination of banknote issued by the Bank of Ireland. The Queen's University Belfast Series was first issued in 2003. This issue features a representation of Hibernia on the front, alongside shields of arms of the six counties of Northern Ireland. The back of this note displays an image of Queen's University Belfast. In 2008 a new series featuring the image of the Old Bushmills
Bank of England £20 note amount that had been redeemed. From 1853 printed notes replaced handwritten notes, with the declaration "I promise to pay the bearer on demand the sum of twenty pounds" replacing the name of the payee. This declaration remains on Bank of England banknotes to this day. A printed signature of one of three cashiers appeared on the printed notes, though this was replaced by the signature of the Chief Cashier from 1870 onward. The right to redeem banknotes for gold ceased in 1931 when Britain stopped using the gold standard. The twenty pound note ceased to be produced by the Bank