Banknotes
- Main articles: Banknotes of the pound sterling and Bank of England note issues.
Note: The description of banknotes given here relates to notes issued by the Bank of England. Three banks in Scotland and four banks in Northern Ireland also issue notes, in some or all of the denominations: £1, £5, £10, £20, £50, £100.
| Name | Value | Circulation | Notes |
|---|---|---|---|
| Ten shilling note | £0.5 10/- (£0.5) | 1928 - 1962 | Commonly "ten bob note" or "half a quid" |
| £1 note | £1 | N Withdrawn by the Bank of England in 1988 (but still issued by the Royal Bank of Scotland). Also still used in some of the Channel Islands. | |
| £5 note | £5 | Y in circulation | The original "large white fiver" five pound note was known as "five jacks" and replaced in 1957 by the blue £5 note. |
| £10 note | £10 | Y in circulation | |
| £20 note | £20 | Y in circulation | |
| £50 note | £50 | Y in circulation | Also known as a bullseye. |
| £1,000,000 & £100,000,000 notes | £1,000,000 and £100,000,000 | N non-circulating | Used as backing for banknotes issued by Scottish & Northern Irish banks when exceeding the value of their 1845 reserves. The amount to be covered is over a billion pounds. |
Bank of England notes are periodically redesigned and reissued, with the old notes being withdrawn from circulation and destroyed. Each redesign is allocated a "Series". Currently, the £50 note is Series E issue, the £5 and £10 notes are Series E Revised issue and the £20 note is Series F issue. Series F is the latest round of redesign, which commenced in March 2007. The £5, £10 and £50 notes will undergo this process in the near future.
Read more about this topic: List Of British Banknotes And Coins