One of only two prototypes of the very first magnetic strip credit cards developed by IBM is up for sale for the first time.
Sotheby's are offering the relic of financial history for sale at their New York branch, with an estimate of between $10,000 to $15,000.
Made of card, with its magnetic strips printed stuck somewhat askew across both sides, the card has been carried for nearly 50 years in the wallet of its developer Jerome Svigals.
Relic of financial history: This unassuming oblong of brown card is one of only two of the original prototypes of the modern day credit card developed by IBM in the late Sixties
Credited with making possible today's trillion dollar consumer credit industry, the card is a unique piece of financial history.
While credit cards for individual companies had been in use in the U.S. since the Twenties, it was only in the Fifties that the idea of a universal credit card came into general use and acceptance.
However, these raised letter cards required extensive customer service and substantial time to process.
Seeking to create an application that would increase computer sales, IBM set about transforming the raised letter credit card to make it more efficient.
Going under the hammer: The card is available for sale at Sotheby's at an auction set for December 14, with an estimate of between £10,000 and $15,000
Mr Svigals' prototype card goes on sale December 14 as part of a fine books and manuscripts sale at Sotheby's in New York.
On one side the magnetic strip has come away and been stuck back down with sellotape, but it is not thought to have affected the value of the almost unique item.
The only other example is kept at the Computer History Museum in California.
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