Northern Ireland and Scottish banknotes are issued by commercial banks rather than a central banking authority and therefore have the status of a promissory note rather than legal tender.
By agreement between the banks of the United Kingdom, all banknotes are treated as legal tender.
However, shopkeepers and other business people are not obliged to accept Northern Ireland and Scottish banknotes.
The Series "B" Bank of England (blue) Five Pound note was demonetised in 1967. The Series "C" Bank of England (blue) Five Pound note was demonetised in 1973. The Series "D" Bank of England (blue) Five Pound note was demonetised in 1991.
See the Bank of England link below.
The Bank of England Five Pound note issued from 1971 until 1990, features the Duke of Wellington and the Battle of Waterloo.
Therre are no "red indians" on Bank of England Five Pound notes.
The Bank of England currently issues Five Pound, Ten Pound, Twenty Pound and Fifty Pound notes for Britain, plus a variety of banknotes for a number of other countries.
The Bank of England white Five Pound note was first issued in 1793, last issued in 1957 and ceased to be legal tender in 1961.
The Bank of England first issued a regular Fifty Pound note in around 1725. The Bank of England issued the modern Fifty Pound note in 1981.
The currency of the UK is the Pound Sterling (or more normally, just Pound). The Bank of England produces all of the banknotes for England and Wales, whilst several banks in Northern Ireland and Scotland produce notes to their own designs. Jersey, Guernsey and the Isle of Man also issue their own notes. The only notes in current issue in England are £5, £10, £20 and £50. Scotland, Jersey, Guernsey and the Isle of Man also have £1 notes. Scotland and Northern Ireland also issue £100 notes.
A Bank of England 1943 Five Hundred Pound note (K Peppiatt), circulated but still in good condition, might fetch anything up to £7,300 GBP. The Bank of England Five Hundred Pound note was last issued in 1943 and ceased to be legal tender in 1945. A reputable coin dealer will be able to give a more accurate valuation.
1 pound= $1.50 usa dollars
Apart from Queen Elizabeth II, the famous faces on current Bank of England banknotes are - Five Pound - Elizabeth Fry Ten Pound - Charles Darwin Twenty Pound - Adam Smith Fifty Pound - Sir John Houblon
In mid-2002, the Bank of England withdrew a batch of Five Pound notes due to the ink on the serial numbers smudging and being able to be rubbed off.