A rare £100 Palestine banknote sold for $170,000

A rare £100 Palestine banknote discovered in a charity shop in the UK has sold for £140,000 ($174,000).

During the British Mandate of Palestine in 1927, the note was issued to high-ranking officials.

Paul Wyman, an Oxfam volunteer, spotted the unusual note in a box of items donated to the charity’s Brentwood branch in Essex, according to the Independent.

He contacted an auction house where experts valued it at £30,000 ($37,300), however, when it went under the hammer at Spink auction house in London, it sold for a whopping $170,000, the newspaper 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,” said Paul.

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The note was given to the store by a mystery donor in October 2020, and it was evaluated at an auction house in February 2022.

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

Bidders worldwide, including the United States and the Middle East, submitted offers in attempt to secure the note.

Elaine Fung, a banknote specialist for 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.”

Meanwhile, Lorna Fallon, retail director for Oxfam, said: “We are really thankful to Paul and the Brentwood store crew for finding this banknote, as well as the kind individual who contributed it to us. We are delighted that the banknote has earned so much money for Oxfam’s global mission, which includes supporting famine-stricken people in East Africa and refugees from Ukraine.”