1777 One Guinea

This one guinea banknote was issued by the Royal Bank of Scotland on 1 September 1777. This note is of considerable importance as it is the first British note to be printed in three colours.

The head of George III, printed in red, is similar to that which appeared on the obverse of the contemporary gold guinea piece. In the bank records this is known as the 'The Red Head' issue.

Founded in 1727, the capital of the Royal Bank of Scotland was to be used to support economic development on Scotland. It did not establish branches, nor did it try to absorb other banks. However, during the late 19th century these policies changed.