PREVIEW: BANKNOTES 24-25 NOVEMBER

As Viscount Peel told the House of Lords during the passage of the Currency and Bank Notes Bill on 7 June 1928, the Great War had forced the government to abandon the principles of the Bank Charter Act 1844, which governed sterling, while “tremendous disturbances” in 1919 led to the prohibition of the export of gold until 1925.

The purpose of the 1928 Currency Note Bill was to re-order these interventions, he advised: “This Bill, providing for the transference of the note issue to the Bank of England, is the final step of a series of measures for the reorganisation of credit and currency in this country.”

Among other provisions, the Act also made it a criminal offence to deface a banknote.

While this financial housekeeping may have proved a rather dry affair for the debating chamber, one of its more interesting by-products was a series of 125 notes issued by the Bank of England as gifts of thanks to those involved with the legislation, which was introduced under the government of Stanley Baldwin.

Around 15 have come to market in the past.

Noonans have two presentation sets to offer here, consecutively numbered A01 000084 and A01 000085, and each complete with its vellum envelope and original plastic wallet. Neither has been on the market before and this is the first time consecutive sets of Parchments Pairs have ever appeared for sale.

Each is estimated at £5,000-7,000.