The Collection of British and Irish Banknotes formed by the Late Edward Barnby

British Provincial, Warwickshire, Birmingham, Birmingham Bank, Five Pounds, 1 July 1818, no. 3691, for Smiths, Gray, Goode & Co, signed by William Smith (Outing 163; Grant 285). Heavily trimmed, otherwise fine £60-80

This lot was sold as part of a special collection, The Collection of British and Irish Banknotes formed by the Late Edward Barnby.

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Collection

At the conclusion of the Peninsula War there were six banks in Birmingham, of which the largest was Smith, Gray, Cooper & Co, based in Union street and known in the city as Smiths Bank. After several changes, the firm became Gibbins, Smith, and Goode. In the great panic of 1825 one of their customers, a merchant named Wallace, failed, owing them £70,000. This, with other severe losses, brought the bank down, but such had been their actual stability that, after all their losses, and after payment of the costs of their bankruptcy, the creditors received a dividend of 19s. 8d. in the pound