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Nine £1 million notes were issued in connection with the Marshall Plan on 30 August 1948, signed by E. E. Bridges, and were used internally as "records of movement" for a six-week period, along with other denominations, with total face value of £300 million, corresponding to a loan from the U.S. to help shore up HM Treasury. These were ...
The banknotes issued by commercial banks in Scotland and Northern Ireland are required to be backed pound for pound by Bank of England notes. High denomination notes, for £1 million ("Giants") and £100 million ("Titans"), were used for this purpose. [53] They were used only internally within the Bank and were never seen in circulation. [53]
This is particularly true in the case of the Royal Bank of Scotland 's £1 note, which is the only £1 note to remain in circulation within the UK. [99] In 2000, the European Central Bank indicated that, should the United Kingdom join the Euro, Scottish banks (and, by extension, Northern Irish banks) would have to cease banknote issue. [100]
The £100 million note (nicknamed "Titan" simply because of its titanic value) backs the value of common circulating notes (£1, £5, £10, £20, £50, and £100 notes) issued by the six commercial banks in Scotland (Bank of Scotland, Royal Bank of Scotland, Clydesdale Bank) and Northern Ireland (Bank of Ireland, Danske Bank and Ulster Bank).
Each redesign is allocated a "series". Currently the £50 note is "series F" issue whilst the £5, £10 and £20 notes are "series G" issue. Series G is the latest round of redesign, which commenced in September 2016 with the polymer £5 note, September 2017 with the polymer £10 note, and February 2020 with the polymer £20 note. [14]
A giant is a one million pound note, and a titan is a one hundred million pound bank note. ... Throughout the UK, £1 and £2 coins are legal tender for any amount ...
Bank of England/AP By Sarah Young LONDON -- Britain is set to honor its revered wartime leader Winston Churchill with a banknote featuring his portrait and famous declaration, "I have nothing to ...
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