Rare £10 note is sold for £26,000 thanks to unusual squiggle you’d usually ignore – could you have one in your wallet?
A RARE £10 note has sold for a whopping £26,000 because of a squiggle everyone ignores.
Brits are being urged to check the loft to see if they have a note from the same print as the one that’s fetched thousands for its lucky owner.
The chunk of cash to look out for could be hidden among ancestor keepsakes.
It’s from a group of notes signed by disgraced Chief Cashier Frank May in 1882.
A squiggle on each note by May, who was caught up in scandals, is the reason why it’s worth so much.
May is the the only Bank of England Chief Cashier to have resigned due to misconduct.
He lost the bank £250,000, the equivalent of £6million today, through speculation and unauthorised transactions.
Andrew Pattison, head of the banknotes department at Noonans, said: “Newly published information regarding the minuscule surviving quantities of such banknotes (many are unique survivors) is giving bidders a well-founded sense of security when spending larger amounts.
“Additionally, these notes come up for auction so infrequently, if ever, that bidders are clearly concluding that they need to take the chance when offered, as they may never see another!”
How to sell rare and valuable coins
There are two main ways you can sell rare coins – through eBay or at auction.
If you want to sell the coin you’ve found in your spare change on eBay then you need to know the risks.
Remember to set a minimum price that is higher or at the very least equal to the face value of the coin.
Even if your coin “sells” on eBay for a high price there’s no guarantee that the buyer will cough up.
In its terms and conditions, the auction website states that bidders enter a “legally binding contract to purchase an item”, but there’s no way to enforce this rule in reality.
The most eBay can do is add a note to their account of the unpaid item or remove their ability to bid and buy.
This is because in order to sign up to the website users do not need to put in valid bank or PayPal details before making a bid.
If a bidder refuses to pay, then the only option for sellers is to give “second chance offers” to other bidders or re-list the item.
For items of a high value, eBay recommends that sellers put a limit on their listing to approve bidders.
It means bidders must email you before placing a bid but not that they must pay out the cash if they win.
If you’ve got a coin that you would like to sell at auction then you can contact a member of the British Numismatic Trade Association.
They usually deal in very old coins but they may be able to help you assess whether it’s worth selling your coin at auction or whether it would be valuable to collector.
They’ll usually charge you a fee for the service or take a percentage of the sale money.
You’ll often have to visit them in person with the coin for them to assess it. Helpfully you can sort the members according to the county where they are based.
We’ve searched through the top ten rare coins you might have in your change that could sell for plenty on eBay.
How do I find out what my coin is worth?
You can compare rare coins on online auction sites to get an idea of how much they might be worth.
Websites like Coin Hunter and even The Royal Mint itself can help verify any loose change you’ve got.
Remember though if you are looking to sell a coin the price you get depends on what someone is willing to pay on the day.
Sometimes buyers pull out after an auction has ended too, so the coin may not have actually sold for the price it says it did.
Also, keep an eye out for fake coins, as they do exist, so make sure that you do your research and seek a professional opinion if necessary.