Important British, Irish and World Banknotes (27 September 2006)

Date of Auction: 27th September 2006

Sold for £260

Estimate: £200 - £250

The Bank of Mona, One Pound, 1858, no.64126 (Quarmby 251). Half note; worn edges and splits in body, otherwise very good, rare (£200-250)


With the termination of the Isle of Man Commercial Banking Co in 1849, the City of Glasgow Bank established a spin-off business under the name of the Bank of Mona, with branches in Castletown, Ramsey and Peel. On Easter Day 1878 Andrew William Gray, the bank’s cashier, who had been relieved of his post the previous day following investigations into his financial position (see signature on the following lot), attempted to rob the bank of £8,873 in gold with the aid of two accomplices. At his trial Gray received a sentence of 10 years penal servitude, but within six months the City of Glasgow Bank itself had failed and the Bank of Mona had to close its doors after paying all depositors in full