Northern provincial banknotes to sell from David Kirch Collection

paulfrasercollectibles

2015-06-26 13:21:31

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Northern provincial banknotes to sell from David Kirch Collection

The final part of the David Kirch Collection of English Provincial Banknotes covers the northern areas

July 17 will see the fourth and final part of the David Kirch Collection of English Provincial Banknotes sell in London through Spink, featuring a selection from across the northern regions.

Scarborough Old Bank noteThis 1896 example of the 5 note from Scarborough Old Bank is very rare and is inremarkably good condition for its age

Leading bidswill be 35 examples from the Lancaster Banking Company (1907), Leeds Bank (1891) and Scarborough Old Bank (1896), which are each valued at 700-900 ($1,058-1,360).

Until 1844, privately owned banks in England were free to issue their own banknotes, with each area generally having its own paper currency.

However, gold shortages led to the note-issuing powers of the banks being gradually restricted until the Bank Charter Act of 1844 gave the sole power to issue notes to the central Bank of England. This rule only applied to new banks, or those that merged, enabling pre-existing banks tocontinue issuing money.

The David Kirch Collection is one of the largest holdings of these provincial banknotes from the post 1844 period.

For numismatists, Paul Fraser Collectibles has a stunning collection of rare coins for sale.

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