Alternatively, they are still worth Fifty Pounds if you return it to the Bank of England.
A reputable coin dealer will be able to give a more accurate valuation.
Because it is a long withdrawn banknote, the Bank of England will honour it to the value of Fifty Pounds. As far as any collector value is concerned, it would depend on the Chief Cashier, serial number and condition of the note.
You have not provided a serial number or a place of issue, but you potentially have a note of value.
The first British Fifty Pound note was issued in 1725.
The first gold Fifty Pound coin issued by the Royal Mint was in 1987.
You have omitted the first 3 or 4 characters of the serial number and not provided the name of the Chief Cashier. Modern Bank of England One Pound notes were issued from 1928 to 1984. Please narrow down the possibilities a lot.
The Bank of England has yet to advise a date for the Sir John Houblon Fifty Pound note to be withdrawn. Some banks, building societies, and Post Offices will still accept the most recent of the notes withdrawn from circulation for deposit to customer accounts or exchange for current series notes however, this is at the discretion of the business concerned. The Bank of England will always accept old notes for face value in current notes. The Bank of England Fifty Pound note featuring Boulton and Watt on the reverse was issued in November 2011.
Without knowing the serial number, your 1952 Bank of England white Five Pound note could fetch up to £200 GBP in mint condition. The Chief Cashier was P.S. Beale.
The Bank of England One Pound note was demonetised in 1988.
A Bank of England 1948(?) One Pound note (Series A - green)(Chief Cashier K.O. Peppiatt - serial T81A), circulated but still in good condition, might fetch anything from £4 to £25 GBP. A reputable coin dealer will be able to give a more accurate valuation.
The banknote you describe does not exist. G.M. Gill was Chief Cashier of the Bank of England from 1988 to 1991. Please submit a new question including the serial number of the note.
Although the US dollar is currently worth less than the United Kingdom pound, its current value hasn't reached 50% yet. As of March 26, 2009, one United Kingdom pound is equal to $1.458 US dollars (about 68.6% the value of the currency in the United Kingdom).
The modern Fifty Pound note was introduced into the currency in 1981 to keep pace with the times and inflation. The introduction of a higher value banknote, such as the Fifty Pound note, relieves the pressure on the smaller banknotes such as the Ten and Twenty Pound notes. This means that the Ten and Twenty Pound notes will last longer in circulation and become relatively cheaper to produce and maintain in circulation due to a reduced demand for them.