Bank Stock for £992 11s 4p. black. Folds but no corner missing (contrary to most BoE paper). The Bank of England was founded in 1694, on the inspiration of King William III (following the example of his native Holland), primarily to raise money for the King in his war against France. For100 years it has been the sole Bank of Issue of currency in England. It was nationalised after World War II. The buyer paid five shillings for over £900 of stock. The reason is that 5 shillings was the standard price for a no-value transfer. Possibly it was the amount of a transfer tax, or more likely a nominal (frictional) consideration to make the transfer legally effective.