A seldom-seen £10 banknote issued by the Bank of England is set to be auctioned off for an estimated £26,000. This unique note dates back to 1895 and is believed to be the sole remaining example of its kind in private possession. During its time of circulation, a £10 note held significantly greater purchasing power than it does in today’s economy.
Renowned expert Andrew Pattison remarked on the rarity of late Victorian Bank of England notes, highlighting the significance of this particular £10 note signed by Chief Cashier Horace Bowen. With a value equivalent to approximately £1,300 at the time of issuance, it represented a substantial sum of money. Pattison noted that for many individuals, several months of wages were required to match the value of this note, making it a rare sight for most people.
Another noteworthy item up for auction is a £5 note from the Birmingham branch of the Bank of England dating back to 1856, priced at £22,000. This note marked a design update by the Bank of England in 1855, introducing a more sophisticated and secure version of the traditional black and white design that had been in use for over a century. The Birmingham-issued note is considered exceptional, as most notes of that era originated from the London head office.
Also up for sale is a rare £2 banknote issued by the Bank of England in 1788, listed at £16,000. This historical note hails from the French Revolutionary Wars period late in the 18th century, a time when the Bank of England began issuing paper money in smaller denominations to fund the wars. The £2 note from 1798, in exceptional condition, is regarded as one of the finest examples in private ownership.
The auction will feature various rare Irish banknotes, including a Bank of Ireland £1 note from 1831 issued in Newry, Dublin, and Armagh. This unique find is projected to fetch £10,000 and represents a note previously known to exist but never before seen.
Interested buyers can participate in the auction at Noonans, London, on 25 March.