<Tr> <Th> Design date </Th> <Td> </Td> </Tr> <P> The Royal Bank of Scotland £ 1 note is a banknote of the pound sterling . It is the smallest denomination of banknote issued by The Royal Bank of Scotland . The current cotton note, first issued in 1987 bears an image of Lord Ilay, one of the founders of the bank, on the obverse and a vignette of Edinburgh Castle on the reverse . </P> <P> The £ 1 note is currently the smallest denomination of banknote issued by The Royal Bank of Scotland . The bank ceased regular production of £ 1 notes in 2001; the denomination is still in circulation although rarely seen in cash transactions today . </P> <P> In common with a number of other banks in Scotland, the Royal Bank of Scotland has retained the right to issue its own banknotes . It first issued notes in 1727, the same year the bank was founded . The issuing of banknotes by Scottish banks was formerly regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009 . Though strictly not legal tender in Scotland, Scottish banknotes are nevertheless legal currency and are generally accepted throughout the United Kingdom . Scottish banknotes are fully backed such that holders have the same level of protection as those holding genuine Bank of England notes . </P>

When did scotland stop using 1 pound notes