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Rare Australian £100 note worth $350,000

(Image: Noble Numismatics)

An extremely rare Australian 100-pound note is estimated to fetch $350,000 at an auction next week.

The note, which was printed in 1914 and has never been circulated, was originally found in a deed box in an attic in Tasmania.

At the time of issue, 100 pounds would have been enough to purchase a row of houses in Australia, according to the auctioneer Jim Noble of Noble Numismatics.

Image: Noble Numismatics

The collector's item was last sold in 1987 for $42,000, which works out to be about a 7 per cent gain per year for that investor if the $350,000 sale price is realised at the upcoming auction.

The 100-pound note is part of the owner's larger collection of 80 rare banknotes up for sale. The estimate for the entire loot is $1.4 million.

The August 1 auction in Sydney will also see unusual items from other owners go under the hammer.

They include bravery medals, a 1937 Australian penny estimated to be worth $50,000, and a Mogul coin expected to fetch $150,000.

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