Banknotes

Old and rare banknotes in England

Old English rare banknotes can be valuable depending on these factors.

The condition of banknotes 

Banknotes that are in good condition are generally worth more than those in poor condition.

Age

Older banknotes are often worth more than newer banknotes because older notes tend to be rarer.

Denomination

Higher denomination banknotes are generally worth more than lower denomination notes. This is because higher denomination notes are rarer and were issued in smaller quantities.

Bank Issuer

Notes issued by the Bank of England were more commonplace and so are often less valuable than rarer private bank notes.

Examples of valuable old English banknotes

The Lloyds Bank £1 note from 1816 was a note issued by a private bank in Birmingham. It features a portrait of King George III on the front and the Lloyds Bank building on the back.

The Yorkshire Banking Company £5 note dating from 1864 was issued by a private bank in Yorkshire and features Queen Victoria on the front and Leeds Castle on the back.

The Bank of England £5 note from 1872 is one of the oldest surviving Bank of England notes. It has a portrait of Queen Victoria on the front and an illustration of the Bank of England building on the back.

The Clydesdale Bank £10 note from 1901 is a note that was issued by a private bank in Scotland. It features a portrait of Queen Victoria on the front and the Clydesdale Bank building on the back.

The Bank of England’s £1,000 note is the highest denomination of any British banknote.  It was issued in 1944 and circulated for a short time.

How to value rare banknotes

Notes need to be authenticated to make sure that they are genuine given that there are many counterfeit notes on the market.

Online auction results, such as eBay, provide a price guide although such results need to be interpreted with caution.

Recent English banknotes

English banknotes are now polymer, which is a type of plastic that is more durable and more difficult to counterfeit than paper.

Each English banknote has its own design. The £5 note features Winston Churchill, the £10 banknote features a picture of Jane Austen while the £20 banknote shows a portrait of the painter J.M.W. Turner.  The £50 banknote has a portrait of the mathematician Alan Turing.

How English banknotes are now protected

The notes are protected with a raised print which can be felt with your fingers and a watermark which is visible when the note is held up to the light.  Also, there is a security thread that is embedded in the note and glows under ultraviolet light.  Finally, there is a holographic image that changes colour when the note is tilted.  These protections mean that English banknotes are more difficult to counterfeit than earlier notes.  

The coins and currency page has more information on coins.