A spectacular £10 banknote is expected to sell for as much as £26,000 when it goes under the hammer at auction next week.
The note, which is being sold at a Noonans Mayfair auction on Wednesday, is described as “incredibly rare”.
It dates back to 1895 and is likely the only surviving example of the denomination in private hands.
Andrew Pattison, head of the banknote department at Noonans, said: “Late Victorian Bank of England notes are incredibly rare, and this £10 signed by the Chief Cashier, Horace Bowen, is likely the only surviving example of this denomination in private hands.
“It represented a very large sum of money at the time of issue - around £1300.
“This was several months wages for many people, and it is therefore likely that most people would have gone through life never even seeing a note like this.”
While £5 note dating from 1856 is estimated at £18,000-£22,000 at the same auction.
As Mr Pattison explains: “In 1855, the Bank of England decided to update the design of their notes and bring in larger, sharper and more secure version of the classic black and white design that had been in service for more than a century.
“This incredible note represents one of the first of the newly updated design and is even more incredible for being issued in Birmingham.
“Most notes of the era were issued from the head office in London, and this is believed to be the only Birmingham example in private hands.
“The updated design was only modernised exactly 100 years later in 1956.”
Bank of England announces change to banknotes
A major change is being made to banknotes in the UK after more than 50 years, the Bank of England has announced.
Brits will notice their banknotes looking noticeably different in a couple of years’ time as historical figures will be replaced on the notes.
Instead, images of UK wildlife will feature on the next series of Bank of England banknotes, with the public given the chance to pick which elements of nature should feature.
It marks a shift after more than 50 years of showcasing people from Britain’s history on the banknotes, including Sir Winston Churchill, Alan Turing and Jane Austen.
The Bank said the change to wildlife imagery creates an opportunity to celebrate another important aspect of the nation.
It also makes it more difficult for the notes to be counterfeited while making security features more distinguishable, according to the central bank.
Representation of England, Scotland, Wales and Northern Ireland will be an important factor of the design.
Victoria Cleland, chief cashier at the Bank of England, said: “The key driver for introducing a new banknote series is always to increase counterfeit resilience, but it also provides an opportunity to celebrate different aspects of the UK.
“Nature is a great choice from a banknote authentication perspective and means we can showcase the UK’s rich and varied wildlife on the next series of banknotes.
“I look forward to hearing about the public’s favourite wildlife during our forthcoming summer consultation.”
More than 44,000 responses were received, including from online surveys, emails and designs submitted by schools and the public.
A second consultation will be run this summer to gather views on the specific wildlife they would like to feature, which can include plants, landscapes and animals.
It will be several years before the banknotes are issued and they will continue to show a portrait of the monarch.
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