Friday, September 22

Scotland’s £5 notes sell for £100 as collectors snap up new plastic currency on eBay



New plastic £5 notes in Scotland are being snapped up for £100 each by foreign and English collectors on internet auction sites.

Two million of the Clydesdale Bank polymer notes will enter circulation over the next few months after the launch on March 23.

Crucially, the non-paper notes – which are waterproof and crumple-free – can only be issued over the counter in Scotland.

Auctioneer Gavin Tavendale, of Edinburgh firm Thomson Roddick, says banknotes regularly sell for much more than their face value, reports the Daily Record.

But Gavin, a notes, medals and coins specialist for 15 years, added: “To see this at £100 shocks me. It doesn’t make much sense.

“But collectors sustain any market.

“If you are a Scot living down south or abroad and you want to get a hold of one of these, it might be the only way to do it.

“When it comes down to it, if there’s a demand there, it will sell at whatever price.

“Money’s no object when you are a collector, especially if you want the note instantly. You’ll pay top dollar to get it.”

We found 15 adverts for the £5 notes on eBay priced up to £100 each.

Clydesdale Bank branches were initially limiting the notes to two per customer – but tellers have now been advised to use their discretion.

The bank said they were surprised they were selling for such a high price.

A spokesman added: “We’re delighted with the response we’ve had so far and branch stocks will continue to be replenished in the coming weeks.

“Note collectors can also contact our head office in Glasgow, where a commemorative pack is available for £8, which includes a £3 charity donation.”

Would you pay £100 for a £5 note?