An elite example of one of the most famous and desirable of all African banknotes sold for $45,600 to lead Heritage’s World Paper Money Signature Auction to $1,974,016 March 27-28.
That total, along with the supplemental Showcase offering of the Balmoral Collection of Queen Elizabeth II banknotes that realized $185,559, lifted the total for the entire event to $2,159,575. The two parts of the Balmoral Collection in Signature and Showcase realized nearly $300,000 in total.
The German East Africa Deutsch-Ostafrikanische Bank 500 Rupien 2.9.1912 Pick 5 PMG Choice Uncirculated 63 at the top of this auction is tied with three other examples, and bettered by just one, in the PMG Population Report.
“This note was the highest denomination of the Emperor Wilhelm II series that was dated 1905 and 1912,” says Dustin Johnston, Senior Vice President of Numismatics at Heritage Auctions. “Rarity is always of utmost appeal in the collecting community, and this note was printed in small numbers. Over the years, the number of surviving examples has been reduced, making this a coveted rarity today.”
Another high-denomination prize in the Heritage World Paper Money auction was a Suriname Surinaamsche Bank 1000 Gulden 1.7.1865 Pick 51r Remainder PMG Choice Uncirculated 64 that climbed to $43,200. The demand is understandable, as Surinamese banknotes issued in the 19th and early 20th centuries are long known for their rarity, sometimes unknown in issued format. This is the highest denomination of the Surinamese Bank’s series issued from 1865 to 1910. It is a magnificent note, a survivor from a minuscule 200 notes bearing the first date that actually were issued, the only example of this denomination in the PMG Population Report and the first offered at Heritage. There are no issued notes, Specimens, or Proofs recorded to date.
Two magnificent notes brought winning bids of $36,000:
- Germany Imperial Bank Note 100 Billionen Mark 15.2.1924 Pick 140 PMG Extremely Fine 40, issued at the height of hyperinflation during Germany’s interwar period that was decimated by the massive inflation and economic turmoil. All five notes in this series are rare, with this highest denomination type being especially scarce. This beautiful note is one of just four examples graded by PMG, and the price marks a new record for German Imperial notes.
- An extremely rare, genuine Russian Rainbow Back 100 Rubles 1882 Pick A53 PMG Very Fine 25, from The IL Collection, was issued during the late 19th century – 1882 is the first date of this design issued by the Gosudarstvenniy Bank – and is one of the most famous of all Russian banknotes. Genuine examples are exceedingly rare, and the example in this auction is the first ever offered at Heritage.
A curious and high denomination offering found in some 19th-century Dutch and Dutch colonial banknote series, an impressive Suriname Surinaamsche Bank 300 Gulden 1.1.1882 Pick 58r Remainder PMG Choice Uncirculated 64 closed at $28,800. The Surinamese Bank’s series of notes dated 1865 to 1910 are the rarest, with this 300 Gulden being the first and only remainder graded in the PMG Population Report; only one Specimen of this date is graded in the PMG census. Printer records indicate that only 500 notes were printed and issued bearing this middle date of the series.
A rare unissued Egyptian Government 5 Piastres 22.5.1920 Pick 162As Specimen PMG About Uncirculated 55 EPQ raced past pre-auction expectations when it drew $26,400. Perhaps the rarest of all Egyptian Government small change notes, this type never was offered officially and is therefore only available in some sort of prototype format. This Specimen created by Bradbury, Wilkinson & Company is the first and only example present in the PMG Population Report, and the first example ever offered at Heritage.
A beautiful Bank of Lithuania 10 Litu 1938 Pick 28s Specimen PMG Choice Uncirculated 63 ended at $25,200. An extremely rare Independence Commemorative Specimen for a type note that is rarely seen, this example is the first offered at Heritage in any format. PMG has graded just two issued examples and 20 Specimens. Soviet Union banknotes began being issued in Lithuania in 1940, and all previous issues were subsequently withdrawn.
The Balmoral Collection features rare banknotes from around the world featuring Queen Elizabeth II, who has appeared on more banknotes and coins around the world than anyone.
Top lots in the collection from the Heritage World Paper Money Signature Auction included, but were not limited to:
- Fiji Government of Fiji 20 Pounds 1.11.1958 Pick 57s Specimen PMG Choice Uncirculated 64: $6,000
- Matching Serial Number 81 Bahamas Bahamas Government 1/2; 1; 100 Dollar/s 1965 Pick 17a; 18a; 25a Three Examples PMG Gem Uncirculated 66 EPQ; Gem Uncirculated 65 EPQ; Choice About Uncirculated 58: $5,520
- Canada Bank of Canada $1000 1954 BC-36S “Devil’s Face” Specimen PCGS Banknote Choice Unc 63: $5,520
Top results from the March 30 Balmoral Collection of Queen Elizabeth II Showcase Auction included:
- Rhodesia and Nyasaland Bank of Rhodesia and Nyasaland 10 Pounds 15.8.1958 Pick 23as Specimen PMG Uncirculated 62: $4,800
- Canada Bank of Canada $20 1935 BC-9b English Text PMG Very Fine 25: $2,520
- British Caribbean Territories Currency Board 20 Dollars 2.1.1962 Pick 11b PMG Very Fine 20: $2,340
Complete results from the March Heritage World Paper Money Auctions can be found at can be found at HA.com/4054.
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