A RARE nine bob banknote that was printed more than 200 years ago has been sold for more than 60 times its value at an auction in London.
According to calculations from the Central Bank, the nine shilling note, which was printed in Waterford, is worth a paltry €53.16 in terms of present-day purchasing power.
However this didn't stop the winning bidder paying e3,000 for the historic cash.
Despite being stained and tattered, the note, pictured above, is considered to be in good condition and sparked feverish bidding at Spink's auction house earlier this week.
It eventually sold for €3,125, almost three times its guide price.
The banknote was issued by Newport's Bank in Waterford on December 1, 1799, when the city printed its own money.
Barnaby Faull, head of the banknotes department at Spink, said: "Any Irish banknote from this period is extremely rare. It is also difficult to find Irish notes of this age in fine condition, as Irish notes tended to be handled and circulated much more than some others, for some reason."
Newport's Bank was owned by the wealthy Waterford businessman, Simon Newport and his son, John Newport.
The younger Newport also served as the local MP for 29 years and was also appointed Chancellor of the Exchequer for Ireland.
Altogether some 26 rare Irish lots were put up for auction by their owner, Canadian collector WLS Barrett, and fetched a total of €35,000.
Among them were two notes produced in Clonmel in the early 1800s, a five pound note which sold for over €2,760 and a one pound five shilling note which was bought for almost €2,250.