Look after the pennies and the pound will look after themselves was a true maxim in the case of a rare Arbroath £1 bank note sold for grand £480.
The unissued one pound note was auctioned at specialist currency auctioneers Spink’s in London on April 16th and was described by them as “fine and rare with lovely engraving.”
Dated December 22 1852 the note is printed in black and white and features some notable local sights.
The Arbroath Abbey is positioned in the middle at the top of the note with the Bell Rock Lighthouse appearing at the left.
The Arbroath Banking Company amalgamated with the Commercial Bank of Scotland in 1844 and it is assumed that the note was left over.
The bank issued its own notes and opened a branch in Forfar in 1825. During the mid 1830s it played a prominent role in financing the Arbroath & Forfar Railway.