Bank Notes from the Levant at Noonans
A strong showing of rare Levantine bank notes drove Noonans’ sale of the Ibrahim Salem Collection to more than £617,000.
The final hammer struck £617,085 at Noonans Mayfair’s sale of the Ibrahim Salem Collection of bank notes on February 12. Over 478 lots were up for sale, with 96% lots sold. According to Noonans, Mr. Salem was a collector of printed paper currency that spanned Levantine history and enjoyed specimens, proofs, and art. One of the most “noteworthy” examples from his collection was a 500 piastres note with an illustration designed by Lucien Jonas of the Khalid ibn al-Walid Mosque in Homs that sold for £10,000 (lot 244).
“As an auctioneer I have had the good fortune to handle many of the world’s finest bank notes and the opportunity to see Ibrahim’s ‘Levant’ collection go under the hammer was tremendously exciting,” says Noonans Senior Banknote specialist Barnaby Faull. “I loved the variety Ibrahim has assembled in this collection over the years and one must give credit to the time and dedication it takes to build a collection of this scale.”
Highlights of the sale included a very fine and rare 1939 overprinted 50 livres note (lot 229) from the Banque de Syrie et du Grand-Liban, Syria, with the serial number B.14 009, which sold for £24,000. The reverse of the issue features an illustration of the Al Baddawi Mosque in Tripoli and gardens in northern Tripoli. Another 50 livres note, from 1925 and by the Banque de Syrie et du Grand-Liban, Syria, shows the same Baddawi Mosque and garden image sold for £10,000.
More Syrian notes that found the spotlight included an incredibly rare Syrian 1930 5 livres (lot 197) that was won with a £20,000 winning bid, and a Syrian 25 livres (lot 336) from 1947 that was bought for 17,000, which is from a small number of similar notes existing today. An excessively rare 1920 100 livres printers' archival order specimen (lot 174) from the Banque de Syrie, showing the Bank of Beyrouth Headquarters building and landscape images, earned £11,000.
Lastly, a rare large-format 1939 specimen 250 livres from the Banque de Syrie et du Liban, Lebanon, with the serial number 0.0 000 (lot 19), showing images of the Baptistry of St John-Marc Cathedral in Byblos and the Sea Castle in Sidon, received a hammer price of £13,000.
More information about the sale is available at noonans.co.uk.
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