Mint-condition tenner from Lynn to go under hammer

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Two rare black and white Lynn banknotes, printed in an age when the town produced its own money, will go under the hammer next month.

The late 19th century Lynn Regis & Lincolnshire Bank ten pound note and the Upwell & Lynn Regis Bank sight bill, which dates from 1776, will be auctioned in London on May 3.

Experts believe the items could fetch up to £200.

And the 19th century note is thought to have been printed shortly before the bank became part of what was to become the banking giant Barclays.

The privately-owned Lynn Regis & Lincolnshire Bank was founded in 1782 by the Gurney family and their business partners John Birkbeck and Joseph Taylor.

Barnaby Faull, head of the banknotes department at auctioneers Spink, said: “All towns and cities used to issue their own banknotes.

“Merchants would get together and set up their own banks.

“But their notes, which were like IOUs, could only be used locally, so when many of these provincial banks went bust, their notes became completely worthless.”

But, even though many of its rival provincial banks did go bust, the Lynn Regis & Lincolnshire Bank was remarkably well run and resilient.

It withstood financial crises and economic downturns and remained in business for more than a century.

The valuable Victorian King’s Lynn tenner was never issued and is said to be in “good very fine” condition, which is one of the auction house’s gradings for notes of this kind.

Although it is undated, the note is thought to have been printed sometime between 1887 and 1896, because of the names of the bank’s partners listed on it.

In 1896, the Lynn Regis & Lincolnshire Bank was formed into Barclay & Co Ltd, which, in 1917, became Barclays Bank Ltd.