Banknote

A Bank of England £1m Treasury note sold at Spink on October 1 for £68,000.

Spink are to offer a £1m Treasury Note. Dated London 30 August 1948, and printed with the red serial number 000008, it is one of only two surviving examples from the nine thought to have been printed in connection with the Marshall Plan.

This $1000 Straits Settlement bill was described by Spink specialist Barnaby Faull as “the holy grail of Asian Pacific banknotes” after it had sold for Sin$420,000 (£180,000) plus buyer’s premium in Singapore on July 5.

All Bank of England banknotes issued prior to the early 1800s are rare but the note, pictured here, dated 30 August 1705, is believed to be the oldest in private hands.

The specialist British sale held by Spink (15% buyer’s premium) on May 5 consisted exclusively of the collection formed by Samuel King.