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£1m bank note to go under hammer £1m bank note to go under hammer
(40 minutes later)
A £1m Bank of England note is to go under the hammer in London.A £1m Bank of England note is to go under the hammer in London.
The eight-inch-wide green banknote, believed to be one of only two existing notes of such a high denomination, will be auctioned at Spink on Wednesday.The eight-inch-wide green banknote, believed to be one of only two existing notes of such a high denomination, will be auctioned at Spink on Wednesday.
The note, numbered 000008, was issued after World War II in connection with the Marshall Aid Plan.The note, numbered 000008, was issued after World War II in connection with the Marshall Aid Plan.
The Marshall Plan was a programme of funding given to Western Europe by the United States to help with recovery after the 1935-45 war. The Marshall plan was a programme of funding given to Western Europe by the United States to help with recovery after the 1939-45 conflict.
Private ownership
The other £1,000,000 note is numbered 000007 and was sold for £8,000 by Spink in 1977, through a private sale.The other £1,000,000 note is numbered 000007 and was sold for £8,000 by Spink in 1977, through a private sale.
Private ownership
It was listed by the Guinness Book of Records as being the highest denomination in private ownership.It was listed by the Guinness Book of Records as being the highest denomination in private ownership.
The number eight note is dated 30 August 1948.The number eight note is dated 30 August 1948.
It has the signature of E E Bridges in the lower right hand corner and is cancelled over the signature and stamped October 6 1948, Bank of England. It bears the signature of E E Bridges, secretary to the treasury, in the lower right hand corner and is cancelled over the signature and stamped 6 October 1948, Bank of England.
A spokesman for Spink told Coinlink that the defunct number eight note, entered for sale by UK-based banknote collector Bill Parkinson, may fetch between £35,000 and £40,000 at its sale of world banknotes at its auction house in Bloomsbury. A spokesman for Spink told Coinlink that the defunct number eight note, entered for sale by UK-based banknote collector Bill Parkinson, may fetch between £35,000 and £40,000 in the world banknotes sale at its auction house in Bloomsbury.
It is believed notes number seven and eight are the only remaining notes of nine that were produced at the time.It is believed notes number seven and eight are the only remaining notes of nine that were produced at the time.
They were given as mementoes to the US and UK Treasury Secretaries.They were given as mementoes to the US and UK Treasury Secretaries.