On this day in 1958 The Quarrymen featuring their frontman John Lennon, Paul McCartney, George Harrison, John Lowe and Colin Hanton went to a small studio in an electronics shop owned by Percy Phillips in Liverpool, England and made a vanity disc. The two songs they recorded were a cover of Buddy Holly’s “That’ll Be The Day” and an original “In Spite Of All The Danger” which was written by Quarrymen Paul McCartney and George Harrison. It cost the boys 17 shillings and six pence. Only one copy was made and the deal was each band member could have possession of the disc for a week. Lowe was the last to have it and he had it for 25 years. Paul McCartney later bought it from Lowe. The original record in 2004 was named by Record Collector magazine as the most valuable record in existence.