The note, which is dated October 15, 1935, is expected to fetch £18,000-22,000 at Dix Noonan Webb's sale of British and World Paper Money on September 29, just after the Coinex weekend.
To put the note in context, when it was printed in 1935, the average UK house price was £530 and the average annual salary £192.
Apparently the £1000 note's demise was prompted by Operation Bernhard, the German plan to destabilise the British economy by flooding the country with counterfeit notes during the Second World War. The original plan was to parachute the money into Britain but it was found more practical to use the notes to pay German agents operating throughout Europe.
The Bank of England reacted by withdrawing all notes over £5. The £1000 note was last issued in 1943 and ceased to be legal tender on April 16, 1945.
When they were withdrawn from circulation and destroyed, just 63 of the notes remained unaccounted for and today about two dozen - including this one - are thought to exist.