1960 Bank of England £1 Banknote – Queen Elizabeth II Portrait Issue | P#374b
This 1960 £1 banknote from the Bank of England is the first portrait note to feature Queen Elizabeth II, marking a pivotal change in British currency design. Issued at the dawn of the 1960s, it replaced earlier Britannia motifs with a finely engraved portrait of the young Queen, symbolising modernisation and continuity in the nation’s monetary system. Printed at the Bank of England Printing Works, this note circulated widely until decimalisation in 1971, making it both a familiar everyday currency and a landmark collectible today.
Key Specifications
Attribute Details
Issuer Bank of England
Denomination One Pound (£1)
Year of Issue 1960
Pick Number P#374b (Standard Catalog of World Paper Money)
Dimensions Approx. 140 × 75 mm
Material Paper, intaglio printed
Watermark Portrait of Queen Elizabeth II
Printer Bank of England Printing Works
Design Overview
Obverse: Green on multicolour underprint featuring the engraved portrait of Queen Elizabeth II at right, with ornate scrollwork and denomination panels.
Reverse: Decorative guilloche patterns with repeated denomination, designed for symmetry and security.
Security Features: Watermark of Queen Elizabeth II, unique serial number sequences, and fine line engraving.
Collector Appeal
Historic First Portrait Issue: The earliest Bank of England note to depict Queen Elizabeth II, making it a milestone in British numismatics.
Pre-Decimal Legacy: A key denomination from the pre‑1971 system, representing everyday currency of the era.
Distinctive Green Design: Instantly recognisable and highly nostalgic for collectors.
Catalogued Rarity: Listed as P#374b, aiding identification and valuation.
Cultural Significance: Reflects Britain’s transition into a new era under Queen Elizabeth II’s reign.
This 1960 £1 note is a cornerstone collectible, valued for its artistry, symbolism, and its role as the first Bank of England note to feature Queen Elizabeth II.
