Paper money of India in spotlight

The 5,138 lots of Noble Numismatics’ recent sale in Sydney included a notable group of 114 items of paper money of India assembled by a Melbourne collector.

Most were issues of the British Raj. They included the rare, the occasional and the ubiquitous. All were in highly collectible condition.

Top price went to an ever-popular and scarce undated George V two rupees eight annas of 1918, P-2. Despite the usual spindle hole plus numerous folds and creases, it came graded good F and realized $4,680 [A$5,963] on a A$2,500 estimate.

Next was a George V 100 rupees signed by J.B. Taylor and issued at Bombay c. 1928, P-10b. It, too, had a spindle hole and minor toning but was otherwise about EF. It took $3,089 [A$3,935] on a A$3,000 estimate.

George VI came to the party with a 1,000 rupees also signed by J.B. Taylor but drawn on Calcutta c. 1937, P-21b. With slight fading and a staple rather than spindle hole, it fetched $2,340 [A$2,981] in good VF.

And then it was back to George V for a five rupees of 1925, P-4b. Apart from that expected spindle hole, it graded UNC and made a very comfortable $1,685 [A$2,146] on a A$1,000 estimate.

Four other lots sold for between A$1,000 and A$1,600. The remainder went for under A$1,000. Among these were some very nice bargains.

Full catalog details and prices realized for these and other lots in the July 25-28 sale can be found at Noble’s website at www.noble.com.au. A buyer’s premium of 19.25 percent has been added to the prices cited, and these have been converted at 1AUD = 0.785USD.

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.

• Start becoming a coin collector today with this popular course, Coin Collecting 101.