Notes issued by the governments of the Isle of Man, Jersey and Guernsey are not generally accepted off their own islands (although Jersey and Guernsey notes and coins circulate freely in both bailiwicks). Scottish notes can also be found freely circulating in Jersey and Guernsey.
In 1921 the Bank of England gained a legal monopoly on the issue of Sterling banknotes in England and Wales, a process that started in 1844 when the ability of other banks to issues notes was restricted.
The bank issued its first banknotes in 1694, although until 1745 they were written for irregular amounts, rather than pre-defined multiples of a pound. They did not become entirely machine printed and payable to the bearer until 1855. The first coloured banknotes were issued in 1928, and were also the first notes to be printed on both sides. For additional details, see Bank of England.
As of November 2003 the Bank of England banknotes in circulation, known as Series E, are:
5 pound note with Elizabeth Fry, showing a meeting of people possibly discussing prisoners' rights.
As of 2004, they are signed by the Chief Cashier, Andrew Bailey.
As with coin the head side is obverse, the tails side (but of course also contains several heads) is the reverse.
All the notes issued since Series C in 1960 also depict Elizabeth II of the United Kingdom in full view facing left and as a watermark, hidden, facing right.
The Bank of England Series D 1 pound note was discontinued in 1984, being replaced by a pound coin - see British coinage.
10 pound note featuring Mary Slessor on the front and a vignette of a map of Calabar and African missionary scenes on the back.
20 pound note featuring Robert the Bruce on the front and a vignette of the Bruce on horseback with the Monymusk Reliquary against a background of Stirling Castle on the back.
50 pound note featuring Adam Smith on the front and a vignette of industry tools against a background of sailing ships on the back.
1 pound note, green, St Helier Parish Church (In 2004, a special edition 1 pound note is in general circulation alongside the St. Helier Parish Church note. This commemorative note marks the 800th anniversary of the division of the Duchy of Normandy in 1204 and the design consequently includes Mont Orgueil Castle and other historic symbolism).
5 pound note, purple, La Corbière lighthouse.
10 pound note, red, The Death of Major Pierson, Battle of Jersey, 1781.