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Auction: 24862 - The Robin Benke Collection of English Banknotes
Lot: 163

Bank of England, B. G. Catterns, [Top Pop] £5, Bristol, 22nd January 1932, serial number T/102 57499,

this £5 note from the Bank of England, issued in Bristol on the 22nd January 1932, is a significant piece of British numismatic history. It features the signature of Basil G. Catterns, who served as Chief Cashier from 1929 until 1934. Born in 1886, Catterns was a figure of considerable influence, having previously held positions at the Bank of New South Wales and the Commonwealth Bank of Australia before returning to the UK. His tenure at the Bank of England was marked by the transition into the Great Depression, where he played a role in managing the UK's monetary policy during those challenging times.

This note, with the serial number T/102 57499, has been graded by PMG (Paper Money Guaranty) at 30 Very Fine, with minor rust, making it the single finest graded example on the PMG census for this particular issue. Despite having seen circulation, it has maintained much of its original detail, colour, and paper quality.

The Bristol branch, where this note was issued, was established in 1826, the same year as major financial reforms that led to the creation of several Bank of England branches outside of London. Bristol, with its rich history in trade, particularly in tobacco, sugar, and later in manufacturing, was a strategic choice for a branch, symbolising the Bank's intent to exert control and offer stability in one of Britain's key economic centres.

Among the £5 notes of this series, those from the Bristol branch are often the most valued and hardest to come by, only surpassed, if at all, by notes issued from the Plymouth branch. Although the difference in value between Bristol and Plymouth notes isn't vast, it is quite substantial when compared to notes from other branches, including those from London,

(EPM B228b, Pick 328i), in PMG holder 30 Very Fine, minor rust, the single finest graded on PMG Census

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Estimate
£7,000 to £10,000

Starting price
£4800