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5 Pounds Royal Bank of Scotland
| Issuer | Royal Bank of Scotland |
|---|---|
| Year | 1966-1967 |
| Type | Standard circulation banknote |
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| Obverse description | Intaglio-printed oval vignette at left with a bust portrait of David Dale in profile facing right, set against a fine guilloche underprint in blue and multicolour tones. The bank's heraldic arms appear at lower right within an ornate cartouche. Denomination numeral '5' is repeated at corners, and the date and place of issue are printed to the right alongside two manuscript facsimile signatures. |
|---|---|
| Obverse lettering | The Royal Bank of Scotland Promise to pay on demand to the Bearer in Sterling Five Pounds At their Head Office here Edinburgh By order of the Court of Directors |
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| Comments |
Royal Bank of Scotland's £5 issues of this period fall under the last generation of large-format Scottish notes before the move toward standardized dimensions aligned more closely with Bank of England practice. The series ran a very short window — just over a year — before being superseded, which limits surviving circulated examples considerably.
Scottish banks retained the legal right to issue their own notes under the Currency and Bank Notes Act 1954, a situation unique within the UK and one that periodically attracted Westminster scrutiny throughout the 1960s. RBS had to back its issue pound-for-pound with Bank of England notes held in reserve above the first million pounds issued.