A BLACK and white banknote — produced when Bolton still printed its own money — has sold for £900 at auction.

The Victorian note, which is about 150 years old, raised £300 more than expected when it went under the hammer at Spink in London.

It is emblazoned with the words “Bolton Bank” and is a proof, so it was never issued as currency, and which is why it is in what auctioneers describe as “extremely fine” condition.

The Bolton banknote proof shows the names of the five Bolton businessmen who founded the Bolton Bank — Hardcastle, Cross, Ormrod, Barlow and Rushton.

At the time it was common for regional towns such as Bolton to have their own currency, which could only be used locally.

Banknote expert Barnaby Faull, from Spink, says he has only seen three such proofs in the 25 years he has worked in the business, and he has never seen an actual note.

He added: “It’s rare, and this is a rather nice looking one, which is rare in itself.

“There are some of these about, but a lot of them are not in very good condition.

This one is in excellent condition, which makes it very attractive.”

The Bolton Bank existed between 1818 and 1879, before becoming part of the Manchester and Salford Bank.

It later became part of Williams and Glyn’s Bank, which was eventually taken over by the Royal Bank of Scotland.