Although the Royal Bank of Scotland was established in 1727, it was not until 2005 that the bank issued a note with the £50 denomination (P367). This note had the distinction of being the first ever £50 note for the Royal Bank as well as the last ever printed on paper. It’s quite a handsome note, printed in green with the portrait of Lord Ilay, first Governor of the bank, on the front. The back is dominated by a view of Inverness Castle. Uncirculated.