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Philippine rarities sold at Memphis block

By Kerry Rodgers

A remarkable tranche of Philippine rarities anchored Lyn Knight’s Memphis world paper sale, June 2. This group commenced with a number of Spanish Philippine issues, including a discovery note, worked its way through various Republican, Japanese occupation and Victory pieces, to culminate in a serial No. 1 21st-century item.

Prior to the sale the auction house observed that the 44 lots included a number of key items absent from the remarkable Dr. Greg Pineda collection sold by Knight’s at Memphis in 2012.

Top-selling complete Philippines VICTORY Series No. 66 set, one to 500 pesos (P-94, -95a, -96, -97, -98a, -99a, -100a, -101a) all with serial number #0000008 that realized $28,200.

Top-selling complete Philippines VICTORY Series No. 66 set, one to 500 pesos (P-94, -95a, -96, -97, -98a, -99a, -100a, -101a) all with serial number #0000008 that realized $28,200.

Top price of $28,200 went to a complete Philippines VICTORY Series No. 66 set, 1 to 500 pesos, whose notes all bore serial No. 0000008. The set came from the William Neish collection and is also believed to have once belonged to Abe Fortas, a U.S. Supreme Court Justice in the 1960s. A similar set, also ex-William Neish, with matched serial No. 0000002 failed to sell.

Ultra-rare, unissued, overprinted Philippine Islands 20 pesos Silver Certificate of 1905, NIP, that fetched $23,500 in EF 40 EPQ. The auction catalog comments, “In this shocking condition, this original is an absolute treasure for any Philippines collection.”

Ultra-rare, unissued, overprinted Philippine Islands 20 pesos Silver Certificate of 1905, NIP, that fetched $23,500 in EF 40 EPQ. The auction catalog comments, “In this shocking condition, this original is an absolute treasure for any Philippines collection.”

Not all that far behind price-wise was the $23,500 paid for an ultra-rare 1905 “Philippine Islands” 20 pesos Silver Certificate overprinted “Subject to the provisions of the Act of Congress, approved June 23, 1906.” This is the first 20 pesos intended for issue under the U.S. administration but was never released. The design showing Mount Mayon was used on later 20 pesos  issues, e.g. P-64, -72.

The 25 pesos (P-A15) and 10 pesos (NIP) Spanish Philippines Billete del Tesoro of April 26, 1877 that sold for $21,150 and $19,975 respectively. Prior to this sale Neil Shafer did not know of the existence of a 10 pesos from this 1877 series. It is not listed in any catalog.

The 25 pesos (P-A15) and 10 pesos (NIP) Spanish Philippines Billete del Tesoro of April 26, 1877 that sold for $21,150 and $19,975 respectively. Prior to this sale Neil Shafer did not know of the existence of a 10 pesos from this 1877 series. It is not listed in any catalog.

The next four items were all Billete del Tesoro Spanish Philippines notes, all dated “26 April 1877.” These were led by the highest denomination in the series: a 25 pesos, P-A15. In EF 45 it took $21,150. The 10 pesos on offer was a discovery note. It is unlisted in the Standard Catalog of World Paper Money. In VF 35 Apparent it had no difficulties in reaching $19,975.

A four pesos, P-A13, also in VF 30 Apparent, took $18,800, while a one peso, P-A11, made $15,275 in VF 25 Apparent.

Rarest note of the entire JIM series: 100 pesos c. 1945, P-113. With just five examples known, this example in VF had no difficulty in finding a new home for $9,988.

Rarest note of the entire JIM series: 100 pesos c. 1945, P-113. With just five examples known, this example in VF had no difficulty in finding a new home for $9,988.

Prices dropped sharply among the rest of the Philippine group. Nevertheless some stiff bidding saw one piece of JIM bid above its upper estimate to fetch $9,988. This price was paid for one of only five-known examples of the rare 100 pesos c.1945, P-113. These notes were never issued making them the rarest of the entire JIM series.

Other top prices went to:

• 500 pesos VICTORY Series No. 66, P-101c, Ch. UNC 64 EPQ: $7,638;

Philippine National Bank five pesos overprint, P-43; old date 1912, new issue date 1919. An unknown number were printed and despite being graded, “VG 8 Apparent minor damage; small rust stains; overprint bled through to back.” it sold for $5,993.

Philippine National Bank five pesos overprint, P-43; old date 1912, new issue date 1919. An unknown number were printed and despite being graded, “VG 8 Apparent minor damage; small rust stains; overprint bled through to back.” it sold for $5,993.

• Five pesos overprint (1919-old date 1912), P-43, VG 8 Apparent: $5,993;

• 20 pesos, 1936, P-85b, Ch. AU 58 NET: $5,331;

• 500 pesos, VICTORY Series No. 66, P-101c, VF/EF: $5,288;

• 100 pesos, 1920, P-50, Fine/VF: $4,994.

And from a little closer to the present day, $2,644 was paid for a 2,000 piso of 2001, P-189b, with serial No. A 000001.

Full details of the sale lots and prices-realized can be found at new.lynknight.com/LK. A buyer’s premium of 17.5 percent has been added to the prices cited above.

This article was originally printed in Bank Note Reporter.
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