Overview
Since the first entry in the series, the Ultima games made use of the Runic Alphabet on its maps and game manuals (see especially The Book of Mystic Wisdom from Ultima IV). Beginning with Ultima V, it was also used for many of the in-game signs, books, etc. This alphabet is especially present in Ultima V and Ultima VI, less so in Ultima VII and Ultima VII Part Two.
The Translation spell found in Serpent Isle can translate both these runes and the ancient Ophidian writing.
By Ultima IX, the runic alphabet could be seen on the Maps of Ultima IX Towns.
It is based on the Germanic / Norse runic alphabet.
High resolution image
Note that Q is missing. Q has its own symbol, but it's on the chart above.