TWO centuries ago the world of high finance was a very different place and the concept of the national domination of a few big banks had not even been considered.

Instead, most towns and communities had their own small banks that issued their own notes.

Those banks have long since gone - they either went bust or were assimilated into bigger operations. However, some of the notes they issued are still around - and for collectors they are worth more than the value printed on them.

One of the rarest, a five guinea note issued by the long-defunct Ripon and Nidderdale Bank, is conservatively expected to fetch at least £550 when it goes under the hammer at Spink auctioneers, in London, tomorrow.

The note was issued by the bank on November 22, 1799, and bears the words "God Speed The Plough".

Spink's banknote expert Barnaby Faull said yesterday: "This is one of the rarest notes of its kind. I've been doing this job for more than 20 years and it's the first one I have seen."

Also up for sale is a rare relic from the dales when the Yorkshire Dales had its own bank.

A printer's proof of a five pound note issued by the Swaledale and Wensleydale Banking Company, it is expected to sell for between £250 and £350. It features a picture of Richmond Castle in the top left corner and a picture of Bolton Castle in the top right.

"It was probably a proof of a design that was submitted to the directors of the bank for their approval," said Mr Faull.