Rare £100 note to sell for £20,000 at auction… and it hides a shady past

AN INCREDIBLY rare bank note is set to sell for more than £20,000 at auction this month.

The £100 note - not in circulation in the UK since the 19th century - is almost 170 years old.

It's set to go under the hammer on June 26 as part of an auction for British and Irish banknotes.

The precious paper has a fascinating history behind it - as do the other valuable notes set to go on auction at the same time.

Because £100 was such a large sum in 1855, around £15,000 today, the note was cut in half to be posted separately.

Once it arrived safely the pieces were taped back together and it could still be used.

Pictures of the old currency show a line down the middle where it was ripped.

The auction will also include valuable £10 notes which are expected to go for more than £15,000.

They all date back to a Liverpool branch of the Bank of England.

The £10 notes were signed by chief cashier of the Bank of England Frank May at the time - a man who was later disgraced after a financial scandal.

Andrew Pattison, head of auction house Noonans banknotes department said of the £100 note: “This remarkable note is of the highest quality and is dated from January 26, 1855, making it almost 170 years old.

“It was signed by Matthew Marshall who was Chief Cashier of the Bank of England between 1835 and 1864 and is one of the highest denominations he signed.

“The note has been cut in half and then taped back together.

“This is because £100 was so much money (around £15,000 today) that the two halves of the note were posted separately for security and then put back together later on so the note could still be used.”

Recently a rare £5 bank note bearing the face of King Charles sold for £11,000.

New banknotes featuring the monarch started entering circulation last week via a number of Post Office branches.

The notes are slowly replacing ones with the late Queen Elizabeth II's face on as they become worn out or to meet an increase in demand.

But some are worth much more than their face value due to the serial numbers they have on them.

Meanwhile, nine other rare £5 King Charles III banknotes sold for up to £7,000.