The Rare Coin Company paid a huge sum of money for an Australian 1924 George V One Thousand Pound banknote. The company paid not less than $1,223,250. It is worth mentioning that the exclusive banknote was sold at an auction held in Sydney by Nobles Numismatics. The banknote proved to be of much interest to private bidders and those who represent commercial interests.
Interesting to note that the one thousand pound banknote was the only sample held in private hands. Back in November 1998 the note was sold at an auction for $86,000. However, the banknote was suddenly surrounded by controversy. The Federal Police seized the note after the ownership claim that came from the Reserve Bank of Australian, which was later relinquished.
The banknote is an extremely important numismatic item since there are only two in the history of the green continent that went over the $1 million barrier.
"As one of Australia’s leading numismatic specialists, we are thrilled to secure such an important numismatic rarity as we believe that through our many years experience we are able to direct clients as to the areas with the best investment potential," outlined Robert Jackman, the director of Rare Coin Company.
"The numismatic industry in Australia is now widely renowned to offer investors with an outstanding record of strong and dependable capital growth and this is no better demonstrated by the return on investment the seller of the £1,000 note is now benefiting from," he added.
Additional information about the banknote:
- Presumably the note was issued in Australia for the shortest circulation ever.
- The £1,000 note wasn't to go public. Currently its value many times exceeds its intrinsic value of $2,000.
- The note is the only circulated sample known in private hands that includes the signatures Kell/Collins.
