Market strong for world paper

The results of Heritage’s Sept. 8-12 Long Beach Expo World Currency sale show the market for world paper is alive and thriving. At the end of four days prices realized totaled $1,016,828 with nine items making in excess of $10,000.

The number one spot, by almost $10,000, went to an Irish rarity: a Currency Commission £10 dated may 6, 1929 and issued by Northern Bank Limited, P-34. The “Paper Money of Ireland” considers no more than seven examples of this denomination remain for this issuer. That offer came in a highly collectible PMG Very Fine 30. It had no problems in attaining an effortless $32,900.

These days Russian rarities can be relied on to bring out the bidders. An imperial State Commercial Bank 25 rubles of 1840, P-A28, executed this trick at Long Beach. That on offer was ex-Eric P. Newman Numismatic Education Society. Heritage had graded it as F but with the caveats of a missing upper left corner, edge tears, and a small hole and one inch parting at center. Those defects mattered not. Rarity was the name of the game and the note romped to a comfortable $23,500.

Three lots realized $21,150. Two consisted of folders of Brazilian patterns for unissued notes ex-Waterlow & Sons. All are unlisted in the Standard Catalog of World Paper Money. All were uncirculated although some showed foxing.

The first such lot comprised various denominations mounted on card for Banco Central de Reservas do Brasil: five, 10, 20 and 500 mil reis and five contos de reis. All showed the same portrait of President Getulio Vargas.

The second group included five, 10, 20, 50, 100, 200 mil reis and 200 cruzeiros for Brazil Republica dos Estados do Brasil. All were dated Oct. 10, 1935.

The third $21,150 lot was a rare Canadian Bank of Commerce $5 dated Jan. 2, 1892 bearing a green YUKON overprint, ex Alta California Collection. The auction catalog considered, “This note is one of the greatest rarities of Canadian chartered bank note history, and integral to the development of the Canadian frontier.” Its price came not only for its PMG Very Fine 20 grade but for an absence of any significant problems.

High grade, low serial number examples of the Bahamas 1965 $100, P-25a, are turning up with surprising frequency this year. That on offer bore serial A000009. In PMG Choice About Uncirculated 58 it took $17,625 which was perhaps considerably less than many of those present expected.

Issues of the Great Ming continue to be in demand, particularly when they are problem free as was the example offered by Heritage: a one kuan, P-AA10, graded PCGS About New 50. It had no difficulty in making $12,925.

Other high fliers included:

• Canada $25 (Silver Jubilee), 1935, PMG About Uncirculated
58 EPQ: $8,812;

• Palestine £10, 7.9.1939, P- 9c, PMG Extremely Fine 45
EPQ: $8,812;

• Australia £5, ND (1913-18), P-5a, PMG Very Fine 20:
$7,050;

• Ireland Ulster Bank £10, 6-5-29, P-52a, PMG Very Fine 20:
$5,287.

Full catalog details and prices realized are available from the
Heritage website: www.HA.com.

More Collecting Resources

• Order the Standard Catalog of World Paper Money, General Issues to learn about circulating paper money from 14th century China to the mid 20th century.

• With over 22,000 listings and 13,750 illustrations, the Standard Catalog of World Paper Money, Modern Issues is your go-to guide for modern bank notes.