Kavan Ratnatunga noticed this lot in the recent April 12, 2016 Spink sale. We'd discussed these notes earlier in The E-Sylum.
This example sold for £82,000. -Editor
Treasury note, for £1,000,000, with text: 'entitles the Bank of England to payment of ONE MILLION POUNDS', London, 30
August 1948, red serial number D 000008, green text on white Bank of England watermarked paper, crowned arms top centre flanked by lion and
unicorn, vertical green panel at left and right, PAYABLE ON DEMAND top right. Printed signature of E.E. Bridges low right. The note is hole
cancelled over the signature and stamped 'Cancelled, 6 October 1948, Bank of England'.
Light folding otherwise extremely fine. Of the greatest rarity and the highest denomination note available to collectors. One of only
two surviving examples, this one million pound note was issued in connection with the Marshall Aid plan after World War II and was intended
for internal use as 'records of movements', the notes were in use for only a period of six weeks. It is believed that nine examples
were produced, only two notes are believed extant, the other seven being destroyed.
The two surviving examples, numbers seven and eight were given as mementos to the respective U.S and U.K Treasury Secretaries. In the
U.K's case this was E.E. Bridges. 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. A magical denomination.
To read the complete lot description, see:
Auction: 16008 - British and World Banknotes Lot: 296
To read the earlier E-Sylum article, see:
SPINK TO AUCTION MILLION POUND BANKNOTE
Wayne Homren, Editor
The Numismatic Bibliomania Society is a non-profit organization
promoting numismatic literature. See our web site at coinbooks.org.
To submit items for publication in The E-Sylum, write to the Editor
at this address: firstname.lastname@example.org
To subscribe go to: https://my.binhost.com/lists/listinfo/esylum
Copyright © 1998 - 2020 The Numismatic Bibliomania Society (NBS)
All Rights Reserved.
NBS Home Page
Contact the NBS webmaster