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Auction: 24500 - World Banknotes - e-Auction
Lot: 568

Bank of England, Cyril P. Mahon, £100, Manchester, 14th September 1925, serial number 50Y22410,

this £100 note from the Manchester branch of the Bank of England, dated 14th July 1925, is a remarkable piece of British financial history. It bears the signature of Cyril Patrick Mahon, who served as the Bank of England's Chief Cashier from 1925 to 1929.

The Manchester branch of the Bank of England was established in response to the financial crisis of 1825-1826, which saw many provincial banks fail. The branch was part of an initiative to expand the Bank's control over banknote circulation across the UK, aiming to stabilise the economy by centralising currency issuance.

In 1925, 100 Pounds was an enormous sum, equating to roughly 25 to 33 weeks of wages for a skilled worker. This denomination would have been sufficient to cover a significant portion of a family home's cost, represent a substantial portion of an annual salary for civil servants or teachers, or fund a large part of a luxury car purchase. Such high-denomination notes were not for everyday use but were indicative of savings, significant transactions, or investments. Given their high value, these notes were more likely to be redeemed for newer currencies or banked rather than kept in circulation, which contributes to their rarity today. Thus, finding a 100-pound note from this era in such fine condition is exceptionally rare, making it not just a piece of currency but a historical artefact from a pivotal time in British economic history.

This particular banknote, in very fine condition with only minor stains, showcases the intricate design typical of the period, with a crowned Britannia and ornate scrollwork. The promise to pay the bearer, the prominent denomination, and Mahon's signature make this note a testament to both the personal career of Cyril P. Mahon and the broader narrative of the Bank of England's expansion and influence in regional economic development. The rarity of such a high denomination note in this condition underscores its value to collectors and historians alike,


(EPM B219f), good very fine, minor stains

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Sold for
£11,000

Starting price
£11000