During the Second World War the Bank of England was concerned that the currency could be counterfeited. To thwart counterfeiters it was decided to change the colour of the £1 note from the traditional green to blue pink Perhaps the most significant change was the introduction of an embedded security thread in the body of the note. We regard this feature as standard today but then it was considered revolutionary. The bank ditched the new colours once the war was over reverting to the traditional green. The new security feature was retained . This is a classic note which any Bank of England collection should include. It is important because it was the first note to contain an embedded metal security thread. Available in Fine, Very Fine and Extremely Fine and Uncirculated Image of note is a representative item from stock and will not necessarily be the actual item supplied.
KO Peppiatt was one of the longest serving Chief Cashiers at the Bank of England in the modern period. He served from 1934 until 1948. During that time there were 4 different varieties of the Britannia £1 note. The fourth and last variety was issued in September 1948, just 6 months before he stepped down to become an Executive Director of the bank. The Fourth Issue follows the regular Britannia £1 design except an embedded metal security thread is included (B260) Available in Crisp Good Fine-VF.