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 The ten-shilling note was withdrawn from circulation on 20 November 1970 following the introduction on 14 October 1969 of the fifty pence coin.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
Bank of England £20 note Bank of England £20 note The Bank of England £20 note is a banknote of the pound sterling. It is the second highest denomination of banknote issued by the Bank of England. The current cotton note, first issued in 2007, bears the image of Queen Elizabeth II on the obverse and the image of Scottish economist Adam Smith on the reverse. Starting in 2020, the current note will be phased out, to be replaced by a polymer note featuring a portrait of artist J. M. W. Turner in place of Smith. Twenty pound notes were introduced by the Bank of