This glass paste medallion by James Tassie is one of only few authentic portraits of the great political economist and author of ‘The Wealth of Nations’ (1776). One of the most famous Scots ever, Smith is the father of the economic principle of free enterprise. He is also the first Scotsman ever to appear on an English banknote. This very portrait was used on the £20 notes issued by the Bank of England in 2007. Another almost identical portrait of Smith by Tassie is also in the collection of the Scottish National Portrait Gallery.