"In Spite of All the Danger" is one of the first songs recorded by The Quarrymen, then composed of John Lennon, Paul McCartney, George Harrison, pianist John Lowe and drummer Colin Hanton.
The song was written by McCartney and Harrison and is the only song to credit the two alone. It is believed to have been recorded on Saturday 12 July 1958. The tape was wiped after being pressed on a 10-inch disc. Only one copy of the recording was made. In 1981, pianist John Lowe attempted to sell it at auction. McCartney purchased it from him and had engineers restore as much of the record's sound quality as possible and then made approximately 50 copies of the single that he gave as personal gifts to family and friends. In 2004, Record Collector magazine named the original pressing as the most valuable record in existence, estimating its worth at £100,000, with the 1981 copies made by McCartney coming in second on the list at £10,000 each.
Here's a video of Paul telling the story of the recording and performing the song: