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Specimens Command Big Prices at Spink's
 | By Kerry Rodgers, Bank Note Reporter
August 06, 2008 |
Spink's June London auction saw 1,412 lots of world paper on the block. They included many rarities and specimens. Bidders proved to be targeted, bent on obtaining specific note types. Prices well above estimates were realized among the numerous Indian, Russian, Saudi Arabian, and South African offerings. In other categories, knock-down prices at or slightly below estimates were commonplace. Seven of the top 12 prices-realized were paid for specimens.
The highest price of $54,680 was fetched by a presentation set of De Nationale Bank der Zuid-Afrikaansche Republiek (Beperkt) issues, 189- (P48-53). All were perforated SPECIMEN C.SKIPPER & EAST and in good Extremely Fine. All notes, bar the unnumbered £20, had serial number 0001. The pre-auction estimate on the present lot was $50,000-70,000.
Second highest price went to a Bank of New South Wales specimen 5 shillings with no date. It is a New Zealand note, PS150, and was the Pick plate note. This New Zealand denomination is possibly unique in private hands. Printed in brown on white, with an allegorical maiden top center, it came heavily hand-stamped twice SPECIMEN CHARLES SKIPPER & EAST. In good EF it sold for $41,000 on a $40,000-50,000 estimate.
Other major prices were obtained by:
" Ceylon 1000 rupees specimen, 1 July 1938, P39, almost Very Fine: $21,760 on $12,000-15,000 estimate.
" Saudi Arabia 100 riyals specimen, AH 1379, P10a, Uncirculated: $19,500 on $2,000-3,000 estimate.
" Saudi Arabia 100 riyals specimen, AH 1379, P10a, UNC: $17,450 on $2,000-3,000 estimate.
" India 5000 rupees specimen, ND, P48a, VF: $13,800 on $6,000-7,000 estimate.
" Russia 1000 rubles specimen, 1919, P42, UNC: $11,550 on $1,000-1,500.
" Russia 25 rubles, 1870, PA45, VF: $11,550 on $800-1,000 estimate.
" Malaya 50 dollars specimen, P4, Tan M21S, UNC: $10,640 on $4,000-6,000.
For U.S. collectors a delightful $5 of the East Orange National Bank, New Jersey, FR472, was on offer. Dated June 29, 1892 and with serial N573231E, it had been consigned by the great-great-granddaughter of manuscript signatory Frederick Michael Shephard. It came with an envelope bearing text stating it to be one of the first bills signed by "F.M.S". In a fresh, bright EF condition, but with a central crease it sold for $7,900 on an estimate of $2,000-2,400.
Total prices realized were in excess of $1.3 million. The full catalog and prices realized are available at www.spink.com.
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