For some months, Spink’s London and New York offices have been in close cahoots over the company’s Jan. 11 NYINC bank note auction, set to take place during the New York International Numismatic Convention. One result should see South American collectors spending considerable time mulling over the catalog.
A substantial portion of the sale is devoted to “The Ibrahim Salem Collection of South America.” If Spink’s previous sales of Salem’s holdings are anything to go by, the catalog holds numerous pleasant surprises.
One such is an El Banco Anglo-Costa-Ricense 50 pesos specimen dated 1 January 1864 (P-S110s). Any prospective bidder among Costa Rican aficionados may find stiff competition from those who delight in vignettes of Queen Victoria. All notes of this 1864 issue featured an engraving of Her Majesty at top center. Further, all denominations of this series are rare with the possible exception of the 10 pesos. In PMG 64 EPQ Choice Unc, it carries what could prove to be a conservative estimate of $7,000-8,000.
If issued South American notes are more your métier, how about a Banco Nacional de Costa Rica overprinted 5 colones of 22 June 1938 (P-198b)? What is unusual about this example is its grade of PMG 40 EPQ Extremely Fine. It shifts what is an uncommon note to one being seldom seen at auction. As such, the estimate is set at $2,500-3,000.
Apart from South America, the catalog includes contents from two different Waterlow & Sons sample albums. One is larger and is a presentation piece gifted to a company employee in the late 1920s.
The smaller is the type of portfolio used by Waterlow sale reps. These contained specimens of actual notes to illustrate the quality and variety of security printing potential customers could expect from Waterlows. To avoid any possible confusion with issued notes, the examples were produced in false colors and often lacked serials, signatures, or parts of the design.
The Crown Agents who liaised between the printers and the issuing authorities described all such items as “commercial specimens.” Most are extremely rare today, and for collectors the present sale represents an opportunity to acquire exceptional items.
Viewing of lots will take place in the Morosco Room of the Grand Hyatt in New York City on Wednesday, Jan. 9, from 9 am to 6 pm. The same location will house the auction itself two days later.
Details given above should be confirmed in the printed catalog or at www.spink.com. Those wishing to participate via the Spink Live bidding facility should ensure they are registered on the company’s website well in advance.
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