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Rare 1927 Palestine 10 Pounds Leads Sale
 | By Bank Note Reporter
January 19, 2009 |
A 1927 Palestine 10 pounds led results, bringing a hammer price of $62,500, in the LKCA World Paper Money sale on Dec. 10, 2008.
According to Joel Shafer of LKCA World Paper Money, preliminary results indicate the hammer value of all of the lots in sale was $565,422, with 89.68 percent of lots selling. The sale was held at Lyn Knight's building in metropolitan Kansas City, Mo.
The sale was described as strong throughout, including the 1927 Palestine 10 pounds, which is possible "the highest price ever realized for this type/variety." It was graded Fine/VF.
All prices are hammer amounts.
- Lots 6010-6012 - three Australian notes from Kangaroo Islands and a South Australia pair that brought a combined $29,000. Lot 6010, a Kangaroo Island South Australian Company NL one pound, July 7, 1836, sold for $12,000 in EF/AU.
- Lot 6083 - Bahamas Government L, 1965 presentation set of eight notes serial No. 10 for $12,000.
- Lot 6146 - Cuba 20 pesos, the highest denomination in the series and the first of its type the firm has offered, $26,000.
- Lot 6190 - Fiji 20 pounds Queen Elizabeth II series, July 1, 1954, for $6,500. It was graded Ch. Fine/VF.
- Lot 6230 - Guernsey, State of Guernsey 30, two shillings six pence, Jan. 1, 1943, for $2,300 in AU.
- Lot 6237 - India, Government of India NL/J2.1D2?, 10 rupees, Nov. 10, 1868, "Bombay issue; type of Jhunjhunwalla No. J2.1D.2" for $7,500 in Fine/VF.
- Lot 6254 - Iran five pahlevis proof for $7,500, described as an unusual note, with the Banque Nationale de l'Iran on back. According to Shafer, no notes were ever issued with this bank title. It was cataloged as an "unlisted type and a very important and spectacular piece."
- Lot 6267 - Iraq, Central Bank of Iraq NL, 1990 five dinars, "unadopted design with 'proof no 727//2' at lower left" picturing Saddam Hussein and described as a modern rarity. It sold for $6,500 in VF/EF.
- Lot 6268 - Iraq, Central Bank of Iraq NL, 1990 10 dinars, next in series and similar to Lot 6267, for $6,500 in VF/EF.
- Lot 6356 - Kuwait Currency Board 1/4, 1/2, one, five and 10 dinars "complete first series of the country," graded UNC, for $3,100.
- Lot 6366 - Mexico, Banco de Londres y Mexico S293a 1,000 pesos, the highest denomination in the series, for $4,400 in VF/EF.
- Lot 6385 - Morocco, Banque d'Etat du Maroc 32, 5,000 francs, Aug. 1, 1943, for $2,800 in Ch. Fine/VF.
- Lot 6387 - Morocco, Banque de'Etat du Maroc 45B, 500 francs specimen, May 29, 1951, for $3,200 in AU/UNC.
Russian gold rubles in Lots 6490-6492 and Lots 6494-6496 as well as a specimen 5,000 rubles in Lot 6500 were mainstays of a strong selection from that country. The last piece sold for $6,000, and the others landed between $7,001 and $10,500 each.
Early assignats/credit notes went well into and on several occasions far over the full estimate ranges.
In summing up the results, Shafer said: "Obviously, there are significant concerns about our economy, and both individuals and companies have suffered. However, at this point our results have stayed strong. I am not at all suggesting that the world paper money market is impervious to the general economic slide. However, it is difficult to imagine the notes from this sale performing better overall than they did in December."
Consignments are still being accepted for LKCA World Paper Money's offering in conjunction with the Chicago Paper Money Exposition in March.
For additional information, contact LKCA World Paper Money, P.O. Box 7364, Overland Park, KS 66207; telephone 800-243-5211.
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