AN “exceptionally rare” £5 note has been found and now sold for an eyewatering price.
The banknote dating back to July 12 1900 has been bought at auction for £32,000 – 6,400 times its original value.
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It was from when Horace G Bowen was the Bank of England‘s chief cashier and very few notes from his time survive in private hands, making them especially prized when becoming available.
This one was issued by the Bank’s branch in the West Yorkshire city of Leeds and later paid into a bank and stamped 25 miles away in York, North Yorkshire.
The fiver carries the worlds: “I promise to pay to Bearer on demand the sum of Five Pounds here or in London.”
This banknote was in the collection of British businessman Sir David Kirch before he sold it on a decade ago.
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Now another major collector has put it back on the market, sparking a bidding war at London-based auctioneers Noonans – and ultimately fetching double its estimate.
Andrew Pattinson, head of Noonans’ banknote department, said: “This is a great note.
“Very few Bowen notes are in private hands especially from this exceptionally rare Leeds branch.
“The York hand stamp shows part of the journey of the note, issued in Leeds and paid into a bank at some point in York.
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“”This note was sold by Sir David Kirch as part of his collection a decade ago when it was sold to a major collector of notes from all over the United Kingdom.”
The first Bank of England £5 banknote was issued in 1793 to compensate for a gold shortage caused by the French Revolutionary Wars.
A £5 note issued in 1900 would be worth £390 at today’s prices.
Rare banknotes and coins have been highlighted by experts as unexpected ways for people to cash in.
There was advice last month on £10 notes which could actually be worth hundreds of pounds, as well as £20 notes too.
This latest sale comes after a person who discovered an extremely rare English Civil War coin from 400 years ago sold it for a startling amount.
A rare coin collection from 500 years ago was also found in Worcester.
Money gurus have urged people to be on the look-out for rare and lucractive coins such as £2 and 20p pieces with rare glitches.
The Royal Mint have issued limited-edition coins including a rare Olympics-themed 50p showcasing the triathlon event.
There are also coins celebrating Kew Gardens and featuring a design by a youthful viewer of BBC One programme Blue Peter.
Coin experts at Change Checker identified the rarest 20p coins which could net sellers as much as £1, 400.
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An unusual 10p piece has been valued at 300 times its face price and six dateless 20p coins were sold for more than £300 in Redditch in Worcestershire.
And the Royal Mint today revealed eight new coins featuring King Charles.
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