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Rare £100 note spotted by Oxfam charity worker makes £140,000 at auction

A rare £100 bank note given to a charity shop has been sold for £140,000 at auction.

Oxfam volunteer worker Paul Wyman spotted the unusual looking note in a box of donated items handed into the charity in Essex by an unknown person.

The £100 Palestine note is one of ten still known to exist.

It was issued to high-ranking officials during the British Mandate in the country in 1927.

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Realising the note was “a little different” to others he’d seen, Paul contacted a specialist auction house.

Experts valued it at £30,000.

But when it came to auction it went for an amazing £140,000.

Paul said: “I realised that I was holding something in my hands that was incredibly rare.

“I couldn’t believe it when it went for £140,000.

“The auctioneers originally valued it at £30,000 and I was amazed at that already – never mind £140,000.

“Up until then I don’t think I really believed it could be a real note because they are so incredibly rare.”

Bidders worldwide drove up the auction price at Spink in London.

Paul said: “It’s brilliant to know I played a part in raising so much money for Oxfam’s work helping the world’s poorest people.”

Elaine Fung, a banknote specialist for London auctioneers Spink, said:

“Less than ten of these banknotes are known to exist.

“It would have been issued to a high ranking official at the time as a token of appreciation for their services.”

Lorna Fallon, retail director for Oxfam, said:

“We are so grateful to Paul and the Brentwood shop team for spotting this banknote, not to mention the generous member of the public who donated it to us.

“We are delighted that the banknote has raised so much money for Oxfam’s work around the world, which includes helping people in East Africa who are at risk of famine and assisting refugees from Ukraine.”

 

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