The first ever note issued by The Manx Bank has sold for £24,000 during an auction at Noonans Mayfair in London.

The £1 note was expected to fetch between £10,000 and £15,000 and dates from November 1882.

It’s decorated with an image of the Tower of Refuge in Douglas Harbour.

Andrew Pattison, head of the banknotes department at Noonans described the note ass ‘truly remarkable’ and it ‘fetched an equally remarkable price’.

He added: ‘The combination of early date, beautiful and evocative design, and serial number one, make this the finest Isle of Man note in existence.

‘Understandably therefore, this a world record for an Isle of Man bank note by a considerable margin.’

The earliest known Manx bank note is dated 1788, however this rare note that went under the hammer on Thursday last week is believed to be the oldest one that has survived.

The note is the first one issued by The Manx Bank which existed between 1882 and 1900.

There were many notes issued by local banks before that date, including Dumbell’s Bank which began trading in 1874 and subsequently crashed on ‘Black Saturday’, February 3, 1900.