Pudsey £5 note designed by Dundee schoolgirl sells for £18,600

A limited edition Bank of Scotland £5 note designed by a Dundee schoolgirl has sold for £18,600 at auction.

The note, featuring a picture of Pudsey Bear raising a Saltire flag, was one of the first polymer notes issued on 17 July 2015.

The Pudsey design was created by Kayla Robson, 12, who won a Bank of Scotland competition in partnership with the BBC's Children in Need charity.

It had been expected to fetch between £1,000 and £1,200.

An anonymous collector bid £15,500 when the note went under the hammer at the Spink's World Banknotes auction in London on Tuesday.

But the actual amount paid rose to £18,600 including buyer's premiums.

Security features

Monica Kruber, a specialist in Spink's banknote department, said: "This Pudsey £5 note was designed by a young lady from Dundee.

"We knew it was going to be good but it made a fabulous price. We are delighted, especially as it is for BBC Children in Need.

"It is an extraordinary note, and an extraordinary issue - the first polymer from the Bank of Scotland.

"It has amazing security features. The note itself is very attractive and the colours are amazing -- they are also largely invincible."

The note was one of a limited edition of 50 notes. The serial numbers were unique, with the first 40 using the code PUDSEY01 to PUDSEY40 while the remaining 10 would be personalised to buyers.

Some of the notes were auctioned last year, but the latest sale coincided with the release of the general issue polymer £5 notes, which were made available to the public.

Annette Barnes, Bank of Scotland's retail managing director, said: "This new £5 note is brighter and bolder than most other banknotes in circulation and really brings to life what BBC Children in Need means to so many people.

"Kayla did a fantastic job with her design and I am delighted to see how we have been able to incorporate it into our first polymer banknote."