100 Pounds Union Bank of Scotland

The Union Bank of Scotland, formed through a long sequence of provincial bank amalgamations beginning in 1830, was absorbed into the Bank of Scotland in 1955 — meaning the later issues of this type were printed for an institution that had fewer than a decade left to exist independently. Waterlow & Sons held the contract throughout the full run of this series, and their Scottish commercial work from this period is generally considered among their more accomplished intaglio output.

At the £100 level, these were wholesale instruments — interbank settlement, large estate transactions, merchant trade. Street circulation was never the point. Survivors in any condition are genuinely uncommon.