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 After the ten shilling note was withdrawn in 1970 it became the smallest denomination note issued by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 £10 note of a Bank of England banknote when it was announced that the only woman to feature on the back of a note — prison reformer Elizabeth Fry on the £5 note — was to be replaced by Winston Churchill. Images on the reverse of the Jane Austen note include a portrait of Austen commissioned by her nephew, an illustration of Elizabeth Bennet from "Pride and Prejudice" by Isabel Bishop, an image of Godmersham Park (the home of Austen's brother), and a design based on Austen's 12-sided writing table as used by her at Chawton Cottage. The note also includes the