Consider the weight of a million pounds in cash. Here at the Museum on the Mound, you can actually see what that looks like. The Museum on the Mound isn’t just about vast sums of money. It’s about the story of Scottish banking and currency.
This unique museum is housed in the former head office of the Bank of Scotland. Today, it also serves as the headquarters for Lloyds Banking Group. This impressive building dominates The Mound. The Mound is an artificial hill connecting Edinburgh’s Old and New Towns. The location was strategically chosen to showcase the bank’s status.
Let’s journey back to 1695. Scotland was an independent nation. Edinburgh was its political and economic center. The Bank of Scotland was founded then. The Museum on the Mound has artifacts reflecting these early days. A Grant of Arms from 1701 provides the earliest description of the Bank’s coat of arms.
Interestingly, the Bank’s original location wasn’t on the Mound. It was in the Old Town. Overcrowding and a rather unpleasant smell forced a move. The new head office was the first purpose-built bank in Scotland. It was a grand statement of the Bank’s success.
The Mound itself is intriguing. It’s a man-made hill created from earth and rubbish. Oyster shells were found during building work. This confirmed that the Old Town used the location as a dumping ground. Oysters were a cheap food eaten by the poor.
The building’s north side wasn’t always admired. Edinburgh-born architect David Bryce renovated it in the mid-1800s. Now, it’s an established part of the Edinburgh skyline. It is admired by visitors and locals alike.
The Museum on the Mound covers a wide variety of topics. It has numerous artifacts related to the history of currency and banking. The museum displays how currency has been made over the years. The Bank of Scotland first created paper bills in 1696. These were Scotland’s first banknotes. They were printed in denominations of £5, £10, £20, £50, and £100 sterling.
Banknote forgeries were a problem from the start. One story goes back to the Napoleonic Wars. French prisoners of war were held in Britain, including Scotland. They created banknote forgeries in a camp in Penicuik. They used mutton bones to create stamps for seals and watermarks. The Bank of Scotland offered £100 for information on the fake notes.
The printing plate process for creating banknotes has evolved. There are a variety of plates on display. The contemporary process involves complicated technology.
The Museum on the Mound opened in its present form in 2006. Before that, it was a single room in the Bank of Scotland’s basement. Admission is free. The Museum on the Mound offers a fascinating dive into the local history. You can explore the intricacies of banking. You can discover the treasures of the Royal Bank of Scotland. You can delve into the history of money in Scotland. It’s an ideal addition to your Edinburgh itinerary. The Museum on the Mound presents the enduring legacy of Scotland’s financial history.