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Lot 985: BANK OF ENGLAND
October 29, 2016
Brussels, BelgiumLive Auction
Description: 23 June 1709 Exchequer Bill of £100. black. No 10023. Folds with tears, repaired. In 1709 an Act of Parliament extended the Bank of England's charter of incorporation to 1732 with the power to double its share capital by the issue of new shares. In return, the Bank was required to circulate, service at 3.042% interest, and repay to the holders £2.5 million of Exchequer loan notes ("bills"). This is a rare example of a £100 Exchequer bill repayable at the Bank. Several interest notes on the back until 1719. Signed by George Montagu, 1st Earl of Halifax (1684-1739). He was member of the Majesty's Privy Council and Auditor of the Exchequer. Rarity 9.
Condition Report: F