To some, a crumpled old five quid note may look just like a five quid note, but to others it could be worth more than $10,000.
Mowbray Collectables has such a note - a rare Bank of Otago £5 note - which is to be auctioned in its upcoming coin, banknote, medal and stamp auctions in Wellington, set for tomorrow and Saturday.
Mowbray director David Galt said the note was just one of four in existence, and the only one available outside of museums.
That was why it had an estimated value of $10,000.
‘‘In 1863, the Bank of Otago set out to capitalise on the discovery of gold in the region and the flourishing New Zealand wool market.
‘‘However, an excess of personal loans overextended the institution and led to the bank being sold to the emerging National Bank of New Zealand in 1873.
‘‘Although the Bank of Otago collapsed, their banknote is now estimated to sell at 1000 times its original face value.’’
The note was just one of a handful of Otago-related items up for auction, he said.
A group of World War 2 medals awarded to Otago soldier Wilfred Clyma would also be sold.
Mr Clyma was born in Dunedin in 1911 and began service on August 27, 1940.
He was killed in action on December 1, 1941, in the Western Desert.
His group of medals were estimated to be worth $600, Mr Galt said.
Also on offer is a letter that features the last recorded use of the Mt Ida postmark.
On December 15, 1872, a letter was sent to England via San Francisco, from the Mt Ida post office.
‘‘The postmark was only in use from 1863-1872 before the name change to Naseby in 1873.’’
It was estimated to fetch about $500 at auction.
Other ‘‘treasures’’ up for auction include a rare 1916 United States Buffalo nickel 5 cent coin, featuring a bison and a Native American, estimated to fetch $15,000; a unique vertical pair of New Zealand’s first stamp, the 1855 Penny, worth $12,000; and a New Zealand £1 note from 1955, signed by Chief Cashier Gilbert Wilson.
‘‘Bearing the serial number OK102558, it is one of only 14 known to exist,’’ Mr Galt said.
‘‘Its estimated value is $8000.’’
Mr Galt said the auction would feature more than $1.5 million worth of coins, banknotes, medals and stamps.
