RARE £5 FROM THE BANK OF ENGLAND’S BRANCH IN LEEDS SELLS FOR HAMMER PRICE OF £32,000 – MORE THAN DOUBLE ITS PRE-SALE ESTIMATE - AT NOONANS

An exceptionally rare Bank of England £5 note that was issued in Leeds sold for a hammer price of £32,000 – more than double its pre-sale estimate of £12,000-£16,000 - in a sale of British and Irish Banknotes at Noonans today (Thursday, October 12, 2023). Dated July 12, 1900, it was signed by Horace G. Bowen who was Chief Cashier at the Bank of England from 1893 to 1902 [lot 120].

After the sale, Andrew Pattison, Head of Banknote Department at Noonans commented: “Bidding was extremely fierce, with the notes going to two different buyers, both of whom are advanced collectors of English banknotes.  There were multiple bidders on each note right to the top, which just shows that interest in rare and unique collectable banknotes is extremely strong.” 

The sale included several rare Bank of England notes. Also from Leeds is a very rare £5 note signed by Matthew Marshall who was Chief Cashier of the Bank of England between 1835 and 1864 and is dated 28 July 1862. This sold for a hammer price of £20,000 against an estimate of £10,000-£15,000 [lot 118].

Elsewhere, an excessively rare £50 note also signed by Matthew Marshall dated 6 October 1845 realised a hammer price of £26,000. This high denomination note had been estimated at £15,000-20,000 [lot 119].