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 After the ten shilling note was withdrawn in 1970 it became the smallest denomination note issued by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 10s note were issued in a new mauve and grey colour scheme in order to deter counterfeiters, although the design remained the same. At the same time, a metallic thread running through the paper was introduced as a security feature. After the war ten-shilling notes were issued in their original red colour. The earliest post-World War II notes did not have the metallic thread security feature, but those issued from October 1948 onward did. A new design for ten-shilling notes was introduced in 1961, with the old notes ceasing to be legal tender in 1962. These new series C notes were slightly