Sep 28, 2008

Million Pound Note up for Sale!

Money is very cheap now a days! Don't believe me? Take a look at the bank note above. This one million pound banknote, which is believed to be one of only two in existence, is expected to fetch only £40,000 at auction.

Well, the eight-inch-wide green note was issued by the Treasury in connection with the Marshall Aid Plan to pump US money into Europe after the Second World War, in 1948. All total eight such banknotes were produced, out of which ony two with numbers numbers 000007 and 000008, survived as they were presented as mementoes to the respective American and British Treasury Secretaries.

Though, it is no longer a valid note, the 000008 number note still has some value for collectors. Because, it is the highest denomination note of British currency present today. On October 1, it will be sold by auction specialist Spink and is expected to fetch up to £40,000.



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