Previous Lot Next Lot

Auction: 25360 - The 360th Anniversary Sale
Lot: 41

PIONEERING EXAMPLE OF THE BRADBURY SERIES £1 TREASURY NOTE

PMG 62 Uncirculated | Treasury Series, John Bradbury (1914-1919), Second Issue £1, ND (23 October 1914), serial number A/1 00002. This note is a direct link to a pivotal moment in British history - the dawn of the Bradbury notes, when paper replaced gold and the nation adapted to wartime exigencies. Its remarkable condition, historical significance and provenance make it a centerpiece for any serious collection, certain to captivate and inspire even the most discerning collectors, (EPM T11.1).
Toned, a historic and important banknote, rare, in PMG holder, graded 62 Uncirculated (Cert. #2164673-002).

This iconic £1 Treasury note is a pioneering example of the second issue of the Bradbury series. Its exceptionally low serial number, A/1 00002, places it among the very first notes issued, offering collectors a rare and tangible connection to the earliest days of Britain's emergency wartime currency.

At the outbreak of the First World War, the British government faced an unprecedented crisis: the urgent need to conserve gold reserves for the war effort. To meet this challenge, the Treasury intervened directly in currency issuance, producing notes that would temporarily replace gold coinage. These notes were quickly nicknamed "Bradburys", after Sir John Bradbury, Permanent Secretary to the Treasury. Bradbury, a highly respected civil servant who had advised successive Chancellors on financial policy, recognized the necessity of this bold measure. He remained the government's chief financial adviser throughout the war, guiding Britain through one of its most turbulent periods, and his signature on every note remains a testament to his pivotal role.

These second issues were refinements of the initial emergency notes. Printed uniface in sheets of thirty (5 x 6) by De La Rue on banknote paper supplied by William Joynson & Co, they feature a watermark of wavy lines incorporating the Royal Cypher, the denomination, and the four British emblems: rose, thistle, shamrock, and daffodil. The issue was legal tender for a tumultuous six years until 12 June 1920, and notes of this type are now highly sought-after for their powerful design, evocative of the strength and resilience shown by the United Kingdom during that period.



Provenance

Lou Manzi Collection, 'one of the first notes of the new £1 currency issued by the treasury, October 23rd 1914. The note was framed in a presentation frame and signed by David Lloyd-George Chancellor of the Exchequer himself initially. However, the frame with signature was claimed by the tides of time.



https://www.pmgnotes.com/certlookup/2164673-002/62/

Subject to 20% VAT on Buyer’s Premium. For more information please view Terms and Conditions for Buyers.

Estimate
£5,000 to £8,000

Starting price
£1666