Old Birmingham-printed £5 note expected to fetch £26,000 at auction

An old £5 banknote from 1892 is set to fetch about £26,000 at auction, more than 5,000 times its face value, according to specialist Noonans. The Birmingham-printed note, signed by then-chief cashier Frank May, is being offered as a rare artifact of Bank of England history and is described by experts as a once-in-a-lifetime opportunity for collectors. The sale is scheduled for October 15 in London.

The note is believed to be the only surviving Birmingham-issued £5 of its kind, making it one of the most coveted pieces in the Bank of England's history. Andrew Pattison, head of the banknote department at Noonans, said: 'The note is being sold by a long-term collector of high-end Bank of England notes, and we believe it is the rarest Birmingham £5 in existence. It is also likely to be the most expensive, as we fully anticipate that it will match or exceed its estimate.' Pattison added: 'With this being the only known example in private hands, when we say a once in a lifetime chance for collectors, we really mean it.'

Experts say the auction highlights the niche market for historic currency, where extremely rare notes can realize significant sums. The Birmingham £5 is believed to be the only surviving example of its kind in private hands, a status that has drawn collectors from around the world. Auction houses emphasize provenance and condition as key determinants of value, with buyers often weighing signature authenticity, paper quality and historical context as part of the bidding process. The upcoming sale at Noonans serves as a barometer for how high well-preserved, Birmingham-issued Bank of England notes can rise in today’s collectibles market.