London, Sept 26 : A one million pound banknote, believed to be one of only two in existence, is expected to fetch 40,000 pounds, when it goes under the hammer next month.
The eight-inch-wide green note, which is no longer legal tender, will be auctioned by Spink, the specialist auctioneers, on Oct 1.
The Treasury issued the note on August 30, 1948, in connection with the Marshall Aid Plan after the Second World War.
Named after its architect - American Secretary of State George Marshall - the Marshall Aid Plan was the programme of funding given to Western Europe by America between 1948 and 1951.
US ploughed billions of dollars into Western Europe whose recovery from the 1939-1945 war had been slower than expected.