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Zanzibar note tops FUN World Currency sale

Heritage Auctions’ paper money team should be more than content with the results of their Jan. 9-15 FUN World Currency Signature sale in Orlando At hammer fall, the total realized had achieved a most satisfactory $2,042,662, with 32 lots fetching in excess of $10,000.

Two major collections contributed to the majority of top prices: The Minot Collection and Yuri Solovey Collection of Canada. Both came jam-packed with high-grade rarities – and one or two of those super-rarities whose grade is nigh irrelevant!

Top-selling issued Zanzibar 10 rupees of 1 February 1928 (P-3) that realized $87,000 graded PMG Very Fine 30 at Heritage Auctions’ January FUN sale in Orlando. (Image courtesy and © www.ha.com)

When any Zanzibar note is offered in any world paper sale, it can be expected to top the bill. Such was the case in Orlando when the Minot Collection supplied an issued 10 rupees dated 1 February 1928 (P-3). It was a lovely example graded PMG Very Fine 30 and lacking the rust spots and staining that affect too many surviving Zanzibar issues. As such, it deservedly took $87,000.

Top-selling Canadian lot from the Solovey Collection was the choice 1911 $1000 specimen sporting George V (DC-20s). With just two issued notes known extant of the 34,000 printed, collectors proved more than happy to compete for the privilege of plugging this gap in their collections. In PMG Choice Uncirculated 64, the bidding bolted away to end at $43,200 on a $10,000-15,000 estimate.

Rarity trumps condition: Manitoba overprint Dominion of Canada $1 of 1870 (DC-2bii). It made an easy $38,400 in PMG Good 6 given it is likely the sole example in private hands. (Image courtesy and © www.ha.com)

From the same provenance, an 1870 Dominion of Canada Manitoba overprint $1 (DC-2bii) attracted considerable attention. Given that it is likely unique in private hands, its grade of PMG Good 6 proved immaterial. A few years back, this note had fetched nearly $25,000. At Orlando, the price jumped to $38,400.

Prices of other high-grade Canadian high-rollers included: front and back proof for a 1924 $50,000 “bank special” (DC-39P) – $36,000; a 1911 $500 specimen featuring Queen Mary (DC-19s) – $33,600; and a 1925 $500 George V specimen (DC-28s) – $31,200.

Notably, one of two known 1878 Dominion of Canada $2s “Payable at St. John” (DC-9c) sold for $31,200 in PMG Very Good 10.

The rare 1941 Panamanian Banco Central de Emission 20 balboa specimen (P-25s) that fetched $38,400, or well over double upper estimate. (Image courtesy and © www.ha.com)

Among rarities contributed from other noteworthy collections were four superb 1941 Panamanian Banco Central de Emission specimens ex-Goldsworthy Collection. The three higher denominations graded PMG Gem Uncirculated 66 EPQ with the dollar a hair’s breadth lower at 65 EPQ The 20 balboa (P-25s) made $38,400 on a $10,000-15,000 estimate, the 10 balboa 1941 (P-24s) realized $25,200, the 5 balboa (P-23s) took $9,600, and the 1 balboa (P-22s) went for $6,000.

The sale offered collectors of World War II emergency issues the rare opportunity to bid on two classic Gilbert & Ellice Islands pieces of scrip dated 1 January 1942: a 10 shillings (P-4) and a pound (P-5).

Desirable WWII Pacific rarities: Gilbert & Ellice Islands’ 10 shillings (P-4) and pound (P-5) that sold for $11,700 and $11,400, respectively. (Images courtesy and © www.ha.com)

These scrip were created on Ocean Island when it became isolated from the main GEIC colony following Pearl Harbor. They were required to pay the workers in the phosphate digs and were produced on an ink stencil printer. All are extremely rare today.

The 10 shillings came in PCGS Very Fine 20 and made $11,700. The pound graded PCGS Fine 15 and took $11,400.

Full catalog details and prices realized, including those of the accompanying internet sale, as available at www.ha.com.

 

This article was originally printed in Bank Note Reporter. >> Subscribe today.

 


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