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1 Pound Sterling
| Issuer | Bank of Scotland |
|---|---|
| Year | 1885 |
| Type | Standard circulation banknote |
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| Obverse description | Printed in brown and buff on white cotton paper, the obverse centres on a heraldic vignette of the Bank of Scotland coat of arms flanked by two allegorical figures, with ONE POUND and EDINBURGH inscribed to either side. The left border carries an ornate vertical panel of two large circular medallions bearing armorial devices within intricate guilloche framework, while the central field contains the copperplate promissory text reading "The Governor & Company of the Bank of Scotland Promise to pay here to the Bearer on Demand One Pound Sterling, By Order of the Court of Directors," below which appears a facsimile Secretary's signature. The foot of the note bears the legend CONSTITUTED BY ACT OF PARLIAMENT 1695, with a diagonal SPECIMEN overprint across the face. |
|---|---|
| Obverse lettering | ONE POUND EDINBURGH BANK OF SCOTLAND The Governor & Company of the Bank of Scotland Promise to pay here to the Bearer on Demand One Pound Sterling BY ORDER OF THE COURT OF DIRECTORS SECRETARY CONSTITUTED BY ACT OF PARLIAMENT 1695 SPECIMEN |
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| Comments |
The Bank of Scotland's £1 notes of this period occupied uneasy commercial ground — the Scottish free banking era had ended with the Bank Notes (Scotland) Act of 1845, which froze each bank's authorized note issuance at its existing level. The Bank of Scotland was therefore issuing within a fixed statutory ceiling, competing against the British Linen Bank, the Royal Bank, and several others all printing their own pound notes simultaneously under the same regulatory framework.
W. Waterston & Sons were a Edinburgh-based stationery and printing firm, not one of the major security printers. Their use here rather than Perkins Bacon or a Continental house is worth noting — Scottish banks of this era often favored local suppliers with whom they had established relationships and auditable access controls.