A RARE Blackburn one pound note, produced 200 years ago when the town printed its own money, is set to fetch up to £450 at an auction.

The valuable black and white note is emblazoned with the words ‘Blackburn Bank’ and, although it is not dated, it was printed sometime between 1792 and 1814.

It was produced at around the time of the Battle of Trafalgar, the death of Lord Nelson and the publication of Jane Austen’s masterpiece, Pride and Prejudice.

It is known that the note is from the 1792-1814 period because of the tell-tale letter ‘s’ at the end of the word ‘Cunliffes’ printed on the note.

Blackburn Bank was founded in 1792 and for 22 years the partnership running the bank was Cunliffes, Brooks & Co.

In 1814, the name of the partnership changed to Roger Cunliffe & Brooks.

At the time a £1 note would have been a lot of money, with most people earning less than half that a week. Blackburn used to print its own money in the late 1700s and during the 1800s because it was too difficult and dangerous to bring in large sums of cash from London.

Barnaby Faull, from auctioneers Spink in London, where the note will be sold later this month said: “All towns and cities in Britain used to issue their own banknotes, but their notes, which were like IOUs, could only be used locally.”