By Kerry Rodgers
Spink London’s mid-summer world paper sale took place on July 5. Compared with recent Spink blockbusters this was a more modest affair. Just 700 lots graced the catalog with sufficient goodies to bring out collectors in droves. The total realized including commission was $407,387.
As anticipated pre-sale the top selling item was the British Solomon Islands 10 shillings dated Jan. 2, 1926, P-2a. Signed by Kane, de Heveningham and Johnson, its serial number A/1 04001 was the first for this series. Its good VF grade made it highly desirable. Deservedly it was bid up to $19,350 [£15,000] on it £7,000-9,000 estimate.
A short distance behind came an Iraq specimen 100 dinars c. 1942 with a portrait of Faisal II as a small boy at right, P-21as. The note is extremely rare. Even so the $16,254 [£12,600] price realized was no doubt helped by its PCGS About New 53 Apparent grading.
Bank of England rarities are very much in demand. As the present sale showed they are more than capable of fetching five-figure sums.
Lot 547 was a Bank of England £100 dated Oct. 14, 1937 signed by KO Peppiatt. It was an attractive item in itself. The fact that it came in “a fresh and original extremely fine” made it doubly so. But the frosting on this particular cake was its office of issue. Birmingham is a very rare branch for a Peppiatt issue and one not listed in Standard Catalog of World Paper Money. It all added up to a price of $13,932 [£10,800].
The last few years have seen numerous examples of Ming Dynasty Da Ming Bao Chao one kuan, P-AA10, appear on the market. The better examples continue to command top dollar. That offered by Spink was one of the better ones to come to the block in recent months. The paper quality was excellent, the printing strong, the red chopmarks vibrant, and there was just one central fold. In the circumstance the $12,384 [£9,600] price realized on an estimate of £4,500-5,500 was unsurprising.
Other serious money was paid for:
• Bermuda five pounds, Aug. 1, 1941, P-13, PCGS VF25: $5,882 [£4,560];
• Ceylon Oriental Bank five rupees, Jan. 1, 1881, P-S168, VF: $4,954 [£3,840];
• East Caribbean States $100, P-20u, PMG 65EPQ: $3,870 [£3,000];
• Darlehnskassenschein 25 rubles specimen, April 17, 1916, P-125s, EF: $4,644 [£3,600];
• India 1,000 rupees (Calcutta), P-21b, PMG 53EPQ: $4,644 [£3,600];
• Qatar 1-500 riyals specimen set c.1981, P-7s to -12s, PCGS 65-68: $10,836 [£8,400].
Full details, including catalog and prices realized, are available at the www.spink.com. A 20 percent buyer’s premium has been added to the prices cited where 1GBP = 1.29USD, i.e., post Brexit.
This article was originally printed in Bank Note Reporter.
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• The Standard Catalog of United States Paper Money is the only annual guide that provides complete coverage of U.S. currency with today’s market prices.
• 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.