And one Ayr-based company that specialises in creating commemorative coins and banknotes, has made a collection to show how it could be done.
The prototypes from Scotmint resurrect the Scottish ryal, the unit of currency in use when James VI of Scotland acceded to the English throne in 1603. The new Scottish ryal, like the British pound, would be equal to 100 pence, but Scottish pence.
In the new nine-coin collection, the five ryal, two ryal and one ryal coins feature the famous statue of Sir William Wallace, while the 50 Scots pence, 20 Scots pence and 10 Scots pence coins feature a portrait of poet Robert Burns. The five Scots pence, two Scots pence and one Scots pence feature the Cutty Sark which was built on the Clyde in 1869.
Scotmint said: "A new currency for Scotland could be vibrant and attractive."