Rare Australian Commonwealth banknotes set to lead at Heritage Auctions



2015-06-26 12:56:35

Rare Australian Commonwealth banknotes set to lead at Heritage Auctions

A series of rare Australian Commonwealth banknotes will star on September 5-10

A collection of rare Australian Commonwealth banknotes will highlight Heritage Auctions' World Paper Money sale on September 5-10.

Australian type two 1984 $100 banknote A rare specimen noted for the unusual position of its security thread

One of the sale's main draws will be supplied by a1984 Commonwealth of Australia paper issue $100 specimen from the Reserve Bank of Australia. The embossing of the serial numbers and "specimen" overprints are as bold as can be found, and the note boasts the first prefix used on regular issue notes, ZAA,before a solid 000000 serial number.

The banknote is noted for its unusual security thread, which is situated to the left of the portrait of Antartic explorer Sir Douglas Mawson, rather than the usual centre and side positions found on notes that were actually issued for circulation. An incredibly rare specimen graded Gem Uncirculated 65 EPQ, it is expected to bring between $20,000-30,000, with an $18,000 starting bid.

Following this will be a scarce Type Two five dollar specimen, also from the Reserve Bank of Australia. This banknote features the "specimen" overprint eight times on each side - an attribute common to the very rare Type Two specimens - and is part of just two sets of the Type Two notes in existence. It will sell with a $30,000-35,000 estimate.

Outside of the Australian section, a newly discovered and unique 1880 Bank of Ottawa $5 note will star. This spectacularly designed note is one of just four other $5 examples known, one of which is housed in the Canadian National Currency Collection.The item at auction is unique in that it displays blue sheet numbers -a feature which has never been recorded before. Showing even circulation and with still bold printed details, it is expected to make $20,000-30,000, graded PMG Choice Fine 15.

The auction comes amid a resurgence for banknotes, which are featuring more heavily in 2012 auctionsfollowing a slump caused by the global economic crisis. With the market still undervalued yet displaying a strong increase in interest from collectors, now is the time to invest. The ANA World's Fair of Money will see some incredible examples offered, including a stunning US $500 note from 1878.

For more banknotenews visit our dedicated Coins & Banknotes section. We also have a stunning range of investment-grade coins here.

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