An extremely rare Bank of Ireland specimen £20 ‘Ploughman’ banknote recently sold for £52,800 – 16 times its pre-sale estimate. Dating from 1929, it was from the collection of the late Gus Mac Amhlaigh of Dublin. Prior to the auction, it had only been estimated at £2,600-3,200.
As Andrew Pattison, Head of Banknote Department at Dix Noonan Webb, explained:
“This beautiful specimen is the first to appear at auction in many years and attracted a huge amount of interest. Bank records show beyond doubt that all issued £20 notes were redeemed and destroyed, which means specimens like this one are the only way collectors are able to acquire one. Two very serious Irish collectors, both based abroad, evidently felt that this was going to be very difficult to acquire another example, and despite a modest estimate of £2,600-£3,200, the hammer came down at an almighty £42,000 (£52,800 including BP).”
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