The bank note, known as the ‘Red Guinea’, has been estimated at £1,500-2,000.

Noonans’ head of Banknotes, Andrew Pattison, said: “This is as much an historical document as it is a banknote… Politics and finance originally came together to shape the history of Scotland with the collapse of the Darien venture.

“The Royal Bank of Scotland was able to prosper as a shareholding company because the Scottish regional banking system was not restricted by the monopoly of the Bank of England, as institutions were south of the Border.

“The modern banking system has its origins in the days when this note was issued, and it is a fascinating reminder of those times.”