Rare banknotes donated to Edinburgh charity shop sell for £85,000 at auction

A set of rare banknotes donated to an Edinburgh charity shop has sold at auction for more than £85,000.

The collection was handed in to the British Heart Foundation’s store at Straiton Retail Park.

It contained almost 160 banknotes from around the world, including a rare uncirculated note featuring a portrait of a young Queen Elizabeth II issued by the Board of Commissioners of Currency Malaya and British Borneo.

The collection also featured an extremely rare 1947 Iraqi 10 Dinars colour trial and a 1961 specimen 100 Riyal note from Saudi Arabia.

When staff at the shop realised its potential significance, it was passed to auction house Noonans.

The notes went under the hammer on Wednesday, raising £85,860 for the British Heart Foundation.

Shop manager David McCormack said: “When the donation came into the shop, we all looked through the folders but didn’t know much about the banknotes, so we sent them to our eBay team in Leeds to investigate.

“When we discovered their potential value, we were flabbergasted.”

Allison Swaine-Hughes, the charity’s chief commercial officer, added: “We are incredibly grateful to the donor who chose to entrust these remarkable banknotes to us, and to our brilliant shop team in Edinburgh who recognised that there was something very special about this donation.

“It’s wonderful to think that a collection generously handed into one of our charity shops can go on to raise such a fantastic amount for lifesaving research.

“Every pound raised through our shops helps us fund lifesaving research and this will help create a legacy that benefits both collectors and the millions of people affected by cardiovascular disease.”

The British Heart Foundation thanked Noonans – which waived its vendor commission – for its “expertise and generosity” in supporting the sale of the collection.

Andrew Pattison, head of Noonans’ banknotes department, said: “The biggest thanks must go to all our bidders, all of whom are passionate banknote collectors.

“Material of this quality is extremely rare and collectors all over the world have responded extremely well, with many of the notes selling for that little bit more than normal on account of the charitable nature of the sale.

“Everyone at Noonans would like to thank the British Heart Foundation for their trust, and for allowing us to be involved in this enterprise.

“To see the notes achieve such exceptional results, knowing that the proceeds will go towards funding vital and far-reaching research is hugely gratifying to all involved.”