1944 Palestine Currency Board 5-Pound banknote sells for $12,980 at Archives International Auctions

A Palestine Currency Board £5 note dated 1944 and with rare “F” prefix sold for $12,980 at a sale of U.S. and worldwide banknotes, Federal bonds and documents and security printing ephemera held March 10th by Archives International Auctions.
By: Archives International Auctions
 
 
This 1944 Palestine Currency Board 5-Pound banknote sold for $12,980.
This 1944 Palestine Currency Board 5-Pound banknote sold for $12,980.
 
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FORT LEE, N.J. - April 5, 2015 - PRLog -- A Palestine Currency Board (http://auction.archivesinternational.com/Palestine-Currency-Board-1944-Rare-Prefix-Banknote-One-of-2-Sequential-Notes-Being-Offered_i21540579)  £5 note dated 1944 and with rare “F” prefix sold for $12,980 at a sale of U.S. and worldwide banknotes, Federal bonds and documents and security printing ephemera held March 10th by Archives International Auctions, in the firm’s offices at 1580 Lemoine Avenue in Fort Lee, and online at www.ArchivesInternational.com

Of the more than 1,040 lots offered, 670 changed hands in an auction that grossed $279,110. Headlining the sale was a fine collection of Middle Eastern banknotes that included the Palestine Currency Board £5 note, the sale’s top lot.  “These banknotes featured rarities missing from even the most advanced collections,” said Dr. Robert Schwartz of Archives International Auctions.

Palestine Currency Board issues were especially popular with collectors, as six out of seven lots sold for between $4,720 and $12,980. Other star performers included Eastern notes from Syria, Iran, Lebanon, Kuwait, the United Arab Emirates, Sudan and other countries, 1941 Egyptian specimens of 5 and 10 pound notes by Bradbury, and many other Egyptian specimen banknotes.

Following are additional highlights from the auction. All prices quotes include an 18 percent buyer’s premium.

The auction began with foreign banknotes. Australia proved weaker than expected, with only 10 lots out of 31 selling. A Reserve Bank of Australia (http://auction.archivesinternational.com/Reserve-Bank-of-...) $1 ND 1979 serial #1 note gaveled for $737. Twelve lots of Austrian POW Notgeld notes sold for between $45 and $230 each. Canada proved to be popular, with 16 of 19 lots selling, including a $50 War Loan of 1917 (http://auction.archivesinternational.com/Dominion-of-Cana...) that brought $5,900.

From China, a very attractive Ming note (http://auction.archivesinternational.com/Ming-Dynasty-Circulating-Note_i21540130) breezed to $4,720, while an equally beautiful Costa Rican 1912 2 Colones (http://auction.archivesinternational.com/Banco-Central-de-Costa-Rica-Issued-Note-1912_i21540158) banknote finished at $855. Egypt did well, with 9 of 12 lots selling, to include 5 and 10 Egyptian Pound specimens commanding $1,416 and $1,536, respectively. Also, an Equatorial African States 1000 Francs specimen ND banknote from 1963 coasted to $1,003.

German Notgeld notes were a hit, with nearly every lot selling, for $50 to $150 each, except for a spectacular Notgeld specimen sample book with denominations of up to 20 billion that fetched $3,422. India and Indonesia also proved popular; all but one lot sold. Two lovely Imperial Bank of Persia (http://auction.archivesinternational.com/Imperial-Bank-of-Persia-1890-Second-Issue-Specimen-Banknote_i21540374) specimens – 1 Toman and 20 Toman notes – realized $3,304 and $7,965, respectively.

Lebanon was very strong, as all 13 lots sold, for between $70 and $2,950 each. The highlight was a Lebanon, Banque de Syrie et du Liban (http://auction.archivesinternational.com/Banque-de-Syrie-et-du-Liban-1945-Specimen-Banknote_i21540478) specimen, 1945, for 25 Livres, that commanded $2,950. A rare Pakistan specimen sample book of five different 1973-1978 specimens went for $9,440. Peru was highlighted by a circa-1870s Banco de Tacna issued banknote rarity ($1,298).

Two scarce Swedish “Skansa Provat-Banken (http://auction.archivesinternational.com/Skansa-Privat-Banken-1841-Issue-Banknote_i21540711)” notes from 1842 both brought $1,475. Syria was highlighted by a Banque de Syrie et du Grand Liban 1935 (http://auction.archivesinternational.com/Banque-de-Syrie-et-du-Grand-Liban-1935-Issue-Specimen-Banknote_i21540714) specimen for 100 Livres that went to a determnined bidder for $4,779; and a Timor, Banco Nacional Ultramarino 1945 ND provisional issue that changed hands for $1,239. Hundreds of other banknotes also attracted many bidders.

In the security printing ephemera portion of the auction, the highlight was anew find of security printer’s advertising sheets. It was an 1820’s Draper, Toppan, Longacre & Company ad sheet (http://auction.archivesinternational.com/Draper-Toppan-Longacre-Co-ca-1820-s-Advertising-Vignette-Proof-Sheet_i21540845) with an obsolete look-alike banknote surrounded by dozens of vignettes and counters that saw a vigorous battle ensue between a floor and floor bidder. The phone bidder won, with a $5,900 bid.

A circa 1870s-1880s American Bank Note Company (http://auction.archivesinternational.com/American-Bank-Note-Co-Advertising-Sheet-in-Spanish-Similar-to-their-First-Stock-Certificate_i21540842) advertising sheet sold for $2,478; a 1907 Pressed Steel Car panic currency note finished at an impressive $973.50; a 1902 Salem, N.J., $20 plain back note hammered for $855.50; and U.S. Federal documents, savings bonds and Liberty Loan items did very well, with 30 of 38 lots selling. Many sailed past even their high estimates.

Archives International auction schedule includes a May 7th, 2015 U.S. & Worldwide Banknote and Scripophily Auction to be held at their offices in Fort Lee, NJ and a May 23rd auction to be held in Hong Kong of Chinese and Asian Banknotes, Coins & Scripophily and will feature the Alexander E. Pogrebetsky Family Archives of Rare Chinese Banknotes.

Archives International Auctions is always looking for U.S. and worldwide banknotes, coins, stocks, bonds, stamps, postal history, autographs and historic ephemera and documents for future auctions, or to buy outright. To sell or consign one piece or an entire collection, you may call AIA at (201) 944-4800; or you can send them an e-mail, to info@archivesinternational.com.

You may also write to Archives International Auctions, at 1580 Lemoine Ave., Suite #7, Fort Lee, NJ 07024. To learn more about Archives International Auctions and the firm’s upcoming calendar of events, please visit www.ArchivesInternational.com. Updates are posted frequently.

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