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Auction: 24862 - The Robin Benke Collection of English Banknotes
Lot: 119

Bank of England, J.G. Nairne, [Top Pop] Printer's Design £1 'gold note', London, ND (1902), serial number A/1 000000,

John Gordon Nairne was born on 4th January 1861 and began his distinguished career at the Bank of England in 1880. His outstanding service led to his appointment as the 16th Chief Cashier in 1902, and by 1918, he rose to the position of Comptroller. Nairne’s contributions to the Bank and British finance were widely recognised when he was knighted in 1914 and later created a Baronet in 1917. Additionally, he served as a Director of the Bank from 1925 to 1931.

As the world stood on the brink of war in 1914, it became clear that a new form of currency would be needed to replace the gold sovereign. The Bank of England, with its longstanding expertise, responded swiftly by preparing to issue a lower-denomination banknote. This led to the creation of this £1 note. The design features a striking black-and-white illustration, with Britannia depicted in a crowned vignette at the top left, and the denomination displayed in a black tablet at the lower left. The note measures 162 x 97mm.

Today, this unissued printer's design is a rare and highly sought-after collector’s item, with only about fifteen examples known to exist in private hands. What makes this particular note even more exceptional is its remarkable state of preservation. Certified by PMG with a grade of 65 EPQ, it ranks among the finest examples ever graded. Nairne’s legacy lives on through this rare and prized piece of history, designed to replace the world’s most recognised coins. He passed away on the 9th of February 1945, leaving behind a legacy that continues to be admired by collectors around the world,

(EPM B208a, Pick 303pd) in PMG holder 65 EPQ Gem Uncirculated, tied for Finest graded with just another example on PMG Census

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Estimate
£5,000 to £7,500

Starting price
£3200