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Bank of England old bank notes are often used for both collecting as hobby and collecting for investments. Because the English economy has generally been among the strongest in the world, its old bank notes are seen as solid investment vehicles by many individuals. This article outlines a brief history of old Bank of England bank notes, how to invest/collect these notes and how to find their market values.
Brief History of Bank of England Bank Notes
The Bank of England was established in 1694 and began to issue bank notes or paper money to finance a war. The Bank took in deposits from the general public and in exchange issued bank notes. The Bank of England currency was marketable and exchangeable for gold or coins by any individual presenting it to the Bank.
Old Bank of England notes could be redeemed partially or in full amounts. These were handwritten for the amount deposited by the customer. The notes denominations initially included pounds, shillings and pence. In 1696 the Bank of England eliminated the small denomination paper and the smallest banknote issued was for 50 pounds.
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