Bank of Scotland £5 note Bank of Scotland £5 note The Bank of Scotland £5 note, also known as a fiver, is a banknote of the pound sterling. It is the smallest denomination of banknote issued by the Bank of Scotland. The current polymer note, first issued in October 2016, bears the image of Walter Scott on the obverse and a vignette of the Brig o' Doon on the reverse. The polymer replaces a cotton note also featuring a portrait of Walter Scott. Paper currency was introduced in Scotland immediately following the foundation of the Bank of Scotland in 1695. Early banknotes were monochrome, and
Bank of England note issues was decided to replace the 10/- note with the 50p coin. The ten-shilling note was withdrawn from circulation on 20 November 1970 following the introduction on 14 October 1969 of the fifty pence coin. The first Bank of England £1 note was issued on 2 March 1797 under the direction of Thomas Raikes, Governor of the Bank of England, and according to the orders of the government of William Pitt the Younger, in response to the need for smaller denomination banknotes to replace gold coin during the French Revolutionary Wars. The Bank of England's first £1 note since 1845 was