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5 Pounds Royal Bank of Scotland
| Issuer | Royal Bank of Scotland |
|---|---|
| Year | 1952-1963 |
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| Composition | Paper |
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|---|---|
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| Protection type | Watermark |
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| Variants | P#323a - 02.01.1952 - 01.07.1953* / 01.07.1952 * 2 P#323b - 01.07.1953 - 01.02.1954 3 P#323c - 01.04.1955 - 03.01.1963 / 30.04.1956 |
| Comments |
The Royal Bank of Scotland has issued its own banknotes under the Scottish system of private note issue — a right that survived the 1845 Bank Notes (Scotland) Act and remains legally intact today. Unlike Bank of England notes, Scottish commercial bank notes are not legal tender even in Scotland, but are accepted by convention and contract. This series ran across a notably long window, from 1952 into 1963, bridging the reign of George VI and the early Elizabeth II years without any fundamental redesign.
Watermark security was the sole mechanical anti-counterfeiting measure on these notes — no metallic thread, no fluorescent inks. Printed by Bradbury Wilkinson, the firm responsible for much of Scotland's private note output through the mid-twentieth century.