REVIEW: BANKNOTES 1-2 MARCH

The extremely rare Bank of England Leeds Branch £500 white note has done even better at auction than hoped, selling for £24,000.

Sold to a major collector of Bank of England notes, it was signed by Kenneth O. Peppiatt who was Chief Cashier at the Bank of England. It is one of only two notes existing in private hands and had been expected to fetch £18,000-22,000.

As Andrew Pattison, Head of Banknote Department at Noonans commented: “It is indeed a fantastic note. £500 notes are very rare, and in fact only available from three Bank of England branches – London, Liverpool and Leeds – although some were issued in Birmingham and Manchester none have ever come to light. Of those available, Leeds branch, like this one, are the rarest. It came from a long-term collector and is only the second example ever to come to the open market.”