Bank of England £1 note still occasionally found in circulation in Scotland, alongside Royal Bank of Scotland £1 notes. This is because Scotland has no concept of Legal Tender, and any Sterling bank note, of any age, may be used provided the trader is content to accept it. The Bank of England will exchange old £1 notes for their face value in perpetuity. Information taken from Bank of England website. Bank of England £1 note The Bank of England £1 note was a banknote of the pound sterling. After the ten shilling note was withdrawn in 1970 it became the smallest denomination note issued by
Bank of England £1 note 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. Following a consultation