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Auction: 24862 - The Robin Benke Collection of English Banknotes
Lot: 156

Bank of England, C. P. Mahon, £5, Plymouth, 23rd August 1926, serial number 307/U 75965,

the Plymouth branch of the Bank of England, where this note was issued, was established in 1826 as part of a broader strategy to extend the Bank's control and influence beyond London. This move was in response to the financial crises that had shaken the British economy, aiming to stabilise regional finances through centralised banknote issuance. Plymouth, nestled between the Rivers Plym and Tamar on Devon's south coast, had long been a pivotal port city with a rich naval history. Its strategic location made it an ideal candidate for a Bank of England branch, facilitating not just the distribution of currency but also supporting the burgeoning industries and trade that thrived in this maritime hub.

In the 1920s, Plymouth was a city of contrasts, where ancient history intertwined with modern aspirations. The city's skyline was dotted with the spires of St Andrew's Church and the grandeur of the Royal Citadel, remnants of its medieval and military past, while new architectural ventures like the Guildhall spoke of a city on the cusp of modernity. The naval dockyards and the sound of ships in Plymouth Sound were emblematic of its identity, with the community life bustling around the Barbican, where the Pilgrim Fathers had once set sail.

This £5 note does more than just represent currency; it encapsulates a moment in time when Britain was rebuilding, both economically and culturally. The signature of Cyril Patrick Mahon on this note from Plymouth symbolises not just the person but the institution's commitment to stability and progress during a pivotal era. While Plymouth notes from this series might not be the rarest, this particular note, in such fine condition, is a testament to a city's enduring significance and the legacy of those who shaped its financial landscape,

(EPM B215h, Pick 320h), in PMG holder 53 About Uncirculated, only 1 note in higher grade on PMG Census

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Estimate
£2,000 to £3,000

Starting price
£1400