1 Pound Ulster Bank

Ulster Bank's 1 Pound notes of this period were issued under the curious constitutional arrangement that allows Northern Irish commercial banks to print their own sterling — a holdover from pre-partition banking practice that Westminster has never seen fit to abolish. Ulster Bank, then a subsidiary of National Westminster, exercised that right throughout the Troubles, continuing to issue notes while armored vehicles patrolled the streets outside the branches distributing them.

Bradbury Wilkinson printed from their New Malden works, a firm better known for security printing across the Commonwealth. The watermark is the sole concession to anti-counterfeiting in a series that by modern standards looks surprisingly sparse on security features.