The black and white five shillings note (25p in modern money) featuring the word ‘Falkirk’ is dated April 6,1797.
However, according to London auctioneers Spink it is probably a 'contemporary forgery', meaning that it was forged around the end of the 18th century.
The identity of the forger is not known but the note says ‘Pay to Alex.Callander or bearer'.
Before the auction at Spink, in Bloomsbury, London, the rare note had been expected to fetch between Â£400 and Â£500. It was bought by a mystery bidder.
Three other black and white notes, all produced by the Falkirk Union Bank, sold for a total of Â£852 at the same auction.