Old British Pound Note Value
The Bank of England has withdrawn several generations of notes, and unlike most central banks it will still exchange any of them at face value, indefinitely, either in person or by post. That sets a hard floor under every withdrawn British note.
Above that floor, collector value depends on the series, the signature, the serial number, and the condition. The older white fivers and the ten shilling notes are the ones people most often find and most often misjudge.
Quick facts
- Issuer
- Bank of England, plus Scottish and Northern Irish banks
- Exchange policy
- Bank of England exchanges withdrawn notes at face value indefinitely
- Ten shilling note
- Withdrawn 1970 on decimalisation
- White fiver
- Large white £5 note, withdrawn 1961
- Series letters
- A through G mark successive design generations
Old British Pounds value by condition
| Condition | Estimated value | Notes |
|---|---|---|
| Ten shilling note, circulated | $3 to $10 | |
| Ten shilling note, uncirculated | $20 to $60 | |
| Old £1 note, circulated | $3 to $8 | |
| Old £1 note, uncirculated | $15 to $50 | |
| White fiver, circulated | $70 to $180 | |
| White fiver, uncirculated | $250 to $700 | |
| Low or fancy serial | $60 to $2,000+ |
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The white fiver
Until 1957 the Bank of England £5 note was a large sheet of white paper printed in black on one side only, with no portrait and an elaborate copperplate design. Collectors call it the white fiver and it is one of the most distinctive banknotes ever issued in Britain.
It was withdrawn in 1961 and replaced by the smaller blue Series B note. Genuine white fivers are always worth well above face value, and the earlier signature varieties bring considerably more than the later ones.
Exchanging withdrawn notes
The Bank of England guarantees to honour its own withdrawn notes at face value forever. You can exchange in person at Threadneedle Street or by post. That is unusual; most central banks impose a deadline.
For a note with collector value, exchanging at face is a mistake. Compare the collector price to the face value first. For a common circulated £1 or ten shilling note the difference is small; for a white fiver it is enormous.
Frequently asked questions
Can I still exchange old British banknotes?
Yes. The Bank of England exchanges its own withdrawn notes at face value indefinitely, in person or by post. Scottish and Northern Irish issuers have their own policies.
How much is an old ten shilling note worth?
A few dollars circulated and up to sixty uncirculated. They were printed in very large numbers before decimalisation in 1971.
What is a white fiver worth?
Roughly $70 to $180 circulated and $250 to $700 uncirculated, with earlier signatures worth more. It is the standout among withdrawn British notes.