Palestinian banknote exchanged for $103,000 at Spink's rare currency auction



2015-06-26 12:34:52

Palestinian banknote exchanged for $103,000 at Spink's rare currency auction

Issued by the Palestinian Currency Board in the late 1920s, the note trounced expectations

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Spink has concluded another of its important rare banknotes auctions with nearly 2,000 lots of paper currency from all round the world going under the hammer.

As with previous auctions at the company, some particularly strong results came up for Palestinian currency, suggesting a consistently strong market - perhaps particularly so in the light of Palestine's recent drive for statehood at the UN.

Two of the key lots, both from the Palestinian Currency Board, were a 10 and 50 note issued in September 1927 and 1929 respectively.

The former bears the red serial number A011386. It is a blue and pale green note with the White Tower, Ramleh, at the left and value in pale brown guilloche at the centre.

The value appears at each corner, with three printed signatures of the Members of the Palestine Currency Board, Leslie Couper, Sir Percy Ezechiel and A.J.Harding and the low centre.

Palestinian banknote Palestinian banknote

The reverse is blue, with the Citadel of Jerusalem focussed on the Tower of David at the centre; the value appears at the left, right and low centre. It is one of only 12 examples believed extant and a cornerstone note for the series, missing in most collections of Palestine currency.

It is one of the finest examples extant and was expected to bring 30,000-35,000 ($54,500) but actually brought 39,000 ($60,800).

The 50 note has red serial number A008248, and is purple and pale green with the same design as the other. The signatures have changed to Sir John Caulcutt, Sir Percy Ezechiel and Roland Venables Vernon however.

One of about 30 examples believed extant and without doubt one of the finest examples known, it beat its 40,000-45,000 listing to bring a stunning 66,000 ($103,000)

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