What was the lowest ever denomination bank note ever distributed by the Bank of England?
The earliest bank notes issued by the Bank Of England were just that – a handwritten note given by the cashier in exchange for a deposit. So, in theory, they could have been for any amount. The following is an extract from the Bank Of England website – www.BankofEngland.co.uk/banknotes/history.htm In 1694 the Bank of England was established and almost immediately started to issue notes in return for deposits. The crucial feature that made Bank of England notes a means of exchange was the promise to pay the bearer the sum of the note on demand. This meant that the note could be redeemed at the Bank for gold or coinage by anyone presenting it for payment. These notes were handwritten on Bank paper and signed by one of the Bank’s cashiers. They were made out for the precise sum deposited in pounds, shillings and pence.
