A “very rare” – and possibly unique – Spalding five pound note issued almost two hundred years ago when the town printed its own money is set to fetch between £200 and £300 at an auction next week.
The black and white fiver, with its value underprinted in blue, was issued by the short-lived Spalding Commercial Bank on May 3, 1830.
Spalding Commercial Bank was founded in 1829 and after only three years in business it went bust in 1831, so it produced comparatively few notes and even fewer have survived.
London auctioneers Spink say the Spalding fiver is “very rare.”
In fact,it is so rare that Spink say that it is “the first note seen of this type”.
Spalding Commercial Bank was owned and run by the Bugg family – John,Henry and George Bugg – and George Bugg’s handwritten signature can be seen in the bottom right hand corner of the five pound note coming up for sale.
The Spalding fiver is now expected to sell for between £200 and £300 at Spink in Bloomsbury,London,on Friday.
It has been put up for sale by one of Britain’s richest men – Jersey-based property tycoon,David Kirch (75), who is said to be Britain’s joint 751st richest man, alongside Robbie Williams,David Bowie and George Michael, who, like Mr Kirch,are said to be worth £100 million each.
Mr Kirch’s collection of English provincial banknotes, worth around £1 million, will be sold in four parts at Spink.
It is described by Barnaby Faull, head of the banknotes department at Spink, as “the best collection of English provincial banknotes by miles”.