Bank of England £1 note 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 After the ten shilling note was withdrawn in 1970 it became the smallest denomination note issued by the Bank of England. The one pound note was issued by the Bank of England for the first time in 1797 and continued to be printed until 1984. The note was withdrawn in 1988 in favour of the one pound coin. One pound notes were introduced by the Bank of England for the first time in 1797, following gold shortages caused by the French Revolutionary
Bank of England £5 note problem is". The bank consequently did rigorous testing and found the problem to be that the serial numbers were printed over the varnish rather than under it allowing the ink to be removed if enough force was applied. The Bank started to varnish the notes in an attempt to make them last longer than previous notes which only had an estimated lifespan of nine months. A spokesman for the Bank of England said: "The notes are still legal tender and the public shouldn't have a problem spending them in the shops. As long as shopkeepers check the anti-counterfeit measures, then