A rare £5 note is up for sale for a jaw-dropping amount (stock image)(Image: GETTY)
A rare Bank of England note has gone up for sale at a price 5,000 times more than its original worth.
The 133-year-old five pound note, that dates back to May 5, 1892, has now gone up for sale for a staggering £25,000. It is believed to be from a branch in Birmingham that opened in 1827 and was relocated several times before it closed in 1997.
This figure is much higher than the Bank of England’s own inflation calculator that suggests the sliver of money would be worth £550 in today’s money.
Speaking about the item, expert Andrew Pattison said: “The note is being sold by a long-term collector of high-end Bank of England notes, and we believe it is the rarest Birmingham £5 in existence.
“It is also likely to be the most expensive, as we fully anticipate that it will match or exceed its estimate. With this being the only known example in private hands, when we say a once-in-a-lifetime chance for collectors, we really mean it.”
The rare, 133-year-old Bank of England £5 note
(Image: Jam Press/Noonans)
This isn’t the only slice of Bank of England money up for sale with a £500 note signed by Cyril P Mahon that dates back to December 15, 1925, also on the list of items for sale.
Brits are often told to check their wallets in case they have ultra-rare coins and notes knocking around without realising.
Factors such as their mintage and condition will impact how much you could get for certain items. When coins are released by the Royal Mint, certain limited edition pieces have a much higher value than others.
Back in June, one expert identified what he believes to be the “rarest” 50p piece – the Kew Gardens 50p. Meanwhile, a £5 bank note featuring King Charles on the front has sold for a jaw-dropping amount on eBay.
According to Coincollectingwizard, collectors are ‘on the hunt for the early, low-numbered issues of the new monarch’s notes’. While the 133-year-old banknote selling for £25,000 seems extraordinary, it is nothing on some of the world’s most valuable coins.
Back in 2013, one US dollar – considered to be the first ever struck by the US mint – sold for more than $10million (£7.5m). More recently, in 2021, a 1933 Saint-Gaudens Double Eagle (a gold coin totalling $20 or £15) was sold for a staggering $18.9m (£14.2m).
But how do you know if you’re carrying a valuable coin? Scroll down to find out…
Tips for identifying valuable coinsCheck for mint errors (misstrikes, double dies, off-center strikes)Look for low mintage years (the fewer made, the more valuable)Examine the coin’s condition (uncirculated or proof coins are worth more)Research coins from key dates in popular series (e.g., Lincoln cents, Morgan dollars)Consult coin guides like the Red Book or professional grading services (PCGS, NGC)