5 Pounds Royal Bank of Scotland - Jack Nicklaus

The Royal Bank of Scotland has issued commemorative £5 notes under its Scottish legal tender entitlement since the 1990s, and this 2005 Nicklaus issue marked his retirement from competitive professional golf — specifically his farewell round at the Old Course, St Andrews, that July. Scottish banks retain the right to issue their own notes under a system that predates the Bank of England's monopoly in England, and RBS has used that latitude for commemorative runs more aggressively than most.

De La Rue printed the note on standard cotton substrate with a watermark as the primary security feature — modest by the era's standards, given that polymer and holographic foil were already widespread in comparable commemorative issues elsewhere.