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10 Pounds Sterling
| Issuer | Union Bank of Scotland |
|---|---|
| Year | 1848-1862 |
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| Shape | Rectangular |
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| Obverse description | The obverse is executed in fine intaglio engraving and carries the issuer's title 'The Union Bank of Scotland' in bold letterpress across the centre. A central vignette above the text panel shows an equestrian statue set before a classical building, flanked left and right by seated allegorical female figures within ornate frames bearing the denomination 'TEN'. The left border carries a vertical column of circular medallions with the names of the bank's predecessor constituent firms, while the promise to pay text reads 'Promise to pay the Bearer on demand TEN POUNDS Sterling at their Office here, Glasgow' followed by signature lines for the Accountant and Cashier. |
|---|---|
| Obverse lettering | TEN The Union Bank of Scotland Promise to pay the Bearer on demand TEN POUNDS Sterling at their Office here GLASGOW By order of the Directors No. Ent. P Acco. P CASHIER. |
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| Comments |
The Union Bank of Scotland was formed in 1830 through the merger of the Glasgow Union Banking Company and several smaller west-of-Scotland concerns, and its early note issues reflect that commercial Glasgow identity strongly. By the 1848–1862 period, Scottish private banking was entering its long twilight — the Bank Acts of 1844 and 1845 had capped note-issuing rights, and the Union Bank was navigating those restrictions carefully while still maintaining a substantial circulation in the west of Scotland.
Ten-pound notes from any Scottish private bank of this period are genuinely scarce survivors. The denomination saw little everyday use — this was mercantile paper, moving between businesses and counting houses rather than across shop counters — and was typically presented for payment or cancellation promptly rather than held.
The Union Bank was eventually absorbed by the Bank of Scotland in 1955, one of the last major Scottish private bank mergers.