PREVIEW: BRITISH & IRISH BANKNOTES: 26 JUNE

A selection of four of the rarest notes issued by the Bank of England appear in this sale with combined hopes of almost £100,000.

Dating from as early as 1789, and as late as 1922, they include very high values and are signed by some of the most notable Chief Cashiers, including Abraham Newland.

 

Few Chief Cashiers of the Bank of England can have been as dedicated to their task as Abraham Newland (c.1730-1807). Holding the post from 1782 until the year of his death, he made a point of sleeping at the bank for the entire quarter century.

Such was his association with the bank in the public’s mind that banknotes were referred to as Abraham Newlands because without his signature they were non-negotiable. 
The nickname was even celebrated in song as follows: “Sham Abram you may, In any fair way, But you must not sham Abraham Newland.”

Newland had begun life fairly modestly as the son of a miller and baker in Buckinghamshire who had 25 children in all by two wives.

Although he slept at the bank, he took a daily drive to Highbury Place, where he owned a house, to take tea and walk.

Owing to growing infirmity, in 1799 Newland was forced to delegate some of his responsibilities to one of his assistants, the cashier Robert Aslett, whom he had known for over 20 years.

This sale has a £10 note, dated, 4 April 1789, with the serial number 8135. The paper quality is superb and the print strong and clear. Exceptionally rare and remarkable that a higher denomination note such as this has survived in such wonderful condition, the estimate is £20,000-26,000.

A £100 note signed by Matthew Marshall, who was Chief Cashier from 1835-64, was issued from Liverpool, and dated 26 January 1855, carrying the serial number O/J 65115. Officially split and rejoined, it has annotations, a red ‘S’ stamp, and pinholes. In overall good fine condition, but with superb original paper quality, this is a high denomination for this cashier – equivalent to around £13,500 in today’s values – and a remarkable note of the highest rarity. It is expected to fetch £24,000-30,000.

Frank May served as Chief Cashier for 20 years from 1873, and a Liverpool issued £10 note dated 23 December 1882 and signed by him is on offer here. It carries the serial number 72/M 41408, as well as graffiti and handstamps on the obverse and reverse. In very fine condition, notes issued by May are rare but a £10 Liverpool branch note staggeringly rare. It is pitched at £15,000-20,000.

Ernest M. Harvey was the Chief Cashier in 1922 when the Bank of England produced a specimen £1000. Dated 7 September 1922, and with the serial number 08/Q 00000, its value would have been around six and a half times the average annual wage at the time.

With two red SPECIMEN overprints, one horizontal and one vertical fold, it is in extremely fine condition – “an unbelievably rare opportunity to obtain a Harvey £1000 note as there is only one issued note recorded, iconic!” said Noonans’ Head of Banknotes Andrew Pattison. The guide is £18,000-20,000.