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<p>[QUOTE=&quot;scottishmoney, post: 1764761, member: 12789&quot;]From the 1820s when Bank of England stopped issuing 1 pound notes until 1914 when the Treasury started issuing 10/- and 1 pound notes - no 1 pound notes were issued, in fact they were forbidden for provincial bank issues with the &quot;Banking Act of 1844&quot;. The smallest denomination of notes in England would have been 5 pounds, while in Scotland and Ireland the commercial banks still printed 1 pound notes because of their specific exemption as specified in the act. So any denomination under 1 pound was always in coin - there was a proposal for 2/-, 2/6 and 5/- notes during 1914 but the idea got shelved. There are examples that were created as proposed designs though.</p><p>&nbsp;</p><p>The main reason for the Banking Act of 1844 was the abuse by banks issuing especially 1 pound notes and not being able to pay them on redemption.&nbsp; The act effectively wiped out most 1 pound notes and some larger issues by shaky banks.[/QUOTE]</p><p><br /></p>

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