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V11 2008 INDEX
E-SYLUM ARCHIVE
SPINK TO AUCTION MILLION POUND BANKNOTE
A rare UK bank note for one million pounds is set to sell at auction for #40,000, but it is not the bargain it first appearsThere have only ever been nine #1,000,000 notes produced and only two remain ... but you shouldn't take it at face value.
They were issued by the Treasury on August 30, 1948 in connection with the Marshall Aid Plan after World War II and were intended for internal use as 'records of movement' for a period of six weeks only.
A spokesperson for Spink, the specialist auctioneers, who will sell the note on October 1 said: "It is believed that nine examples were produced and only two, Numbers Seven and Eight, survived.
"The two notes were given as mementoes to the respective U.S. and U.K. Treasury Secretaries. The Number Seven was first sold in 1977 and is listed in the Guinness Book of Records as being the highest denomination note in private hands.
"The Number Eight note is dated 30 August 1948. It bears the signature of E. E. Bridges in the lower right hand corner and is cancelled over the signature and stamped 6 October 1948, Bank of England."
To read the complete article, see: #1,000,000 banknote to sell for #40,000 (http://newslite.tv/2008/09/26/1000000-banknote
-to-sell-for-4.html)
Wayne Homren, Editor
The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.
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