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5 Pounds Royal Bank of Scotland
| Issuer | Royal Bank of Scotland |
|---|---|
| Year | 1987-1988 |
| Type | Standard circulation banknote |
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| Obverse description | Intaglio portrait of Lord Ilay, first Governor of the Royal Bank of Scotland, at right, within an elaborate guilloche border; the bank title and denomination in large letterpress to centre-left, with the promise to pay inscription and facsimile signature of the Managing Director below. The lower left carries the £5 numeral and the Royal Bank of Scotland arms vignette, set against a multicolour underprint of geometric lathe-work patterns. |
|---|---|
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| Protection type | Watermark |
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| Comments |
Thomas De La Rue had printed Scottish banknotes for decades by the time this series entered circulation, and the relationship was well-established enough that production quality on this issue is notably consistent. Scotland's retained right to issue its own banknotes — unique within the UK — rests on legislation predating the Bank of England's consolidation of English note issue, and the Royal Bank has exercised that right continuously since 1727.
The late 1980s saw growing pressure on Scottish issuers to harmonize security features with Bank of England standards. This note's watermark-only security profile looks thin by modern benchmarks, and the series was retired relatively quickly as polymer and multi-feature specifications became the industry norm.