TWO RARE, HIGH-GRADE 1939 SEQUENTIAL BANKNOTES FROM THE PALESTINE CURRENCY BOARD BRING $31,860 AND $34,220 AT ARCHIVES INTERNATIONAL AUCTIONS’ TWO-DAY, TWO-SESSION SALE HELD OCTOBER 25th & NOVEMBER 4th

. November 25, 2014

The Oct. 25th session was held in New York City; the Nov. 4th session was held in Fort Lee, N.J.

FORT LEE, N.J. – A pair of rare and high-grade 1939 sequential banknotes from the Palestine Currency Board, each in the amount of 10 Palestine Pounds, sold for $31,860 and $34,220 at a two-day, three-session auction held Oct. 25 (in New York City) and Nov. 4 (in New Jersey) by Archives International Auctions, based in Fort Lee. The banknotes were the auction’s top lots.

Assistant TreasurerIn all, about 1,450 lots of U.S. and worldwide banknotes, coins, medals, scripophily (stock and bond certificates) and security printing ephemera came up for bid. The Oct. 25 auction was held at the Museum of American Finance in lower Manhattan, in conjunction with the Wall Street Coin, Currency, Scripophily & Collectibles Show. The Nov. 4 sale was held at AIA’s offices.

“This auction proved that the collector market is still very strong for fresh material at all levels of price and type,” said Dr. Robert Schwartz of Archives International Auctions. “United States and worldwide banknotes did very well, with a majority selling between low and high estimates, U.S. and worldwide coins and medals also did well. The scripophily session featured over 430 lots.”

When the final gavel fell, the auction had grossed $411,968, with very active floor and internet bidding (driven through the AIA website, www.ArchivesInternational.com). Phone and absentee bids were also taken. Already, the firm is looking forward to its fourth auction in Hong Kong (in January 2015), as well as a late February auction event in the Fort Lee offices.

Following are additional highlights from the Oct. 25 and Nov. 4 auctions. All prices quoted include an 18 percent buyer’s premium.

As stated, the Palestine Currency Board sequential banknotes took top lot honors, as bidders were impressed by their rarity and grade (both PMG Choice Uncirculated 64). Other stars of the worldwide banknotes category included a presentation booklet of five different State Bank of Pakistan 1973-1978 specimens ($7,375) and an historic 1762 1 Rigsdaler Courant note ($2,124).

Other worldwide banknotes included a 1920 Republica de Chile 100 Pesos specimen ($1,180); a 1945 500 Sucres Banco Central del Ecuador issued note ($1,711); a 1000 Sucres issued note ($1,475); a 1720 La Banque Royale John Law paper currency note with ties to Mississippi and France ($796); and a circa-1900 Jhalawad Bank of India 20 Rupees “Pick Plate” note ($1,357).

Also sold was a large Israeli Government fractional issue assortment ($1,770); a 1955 high-grade Bank of Israel assortment ($1,357); two Jordan high-grade specimens ($590 each); a Kuwait first issue 1968 set of five notes ($1,121); an uncirculated 1990 Macau Banco Nacional Ultramarino banknote for 500 Patacas ($442); and a Banco Nicaragua 1889-1890 50-centavos rarity ($796).

United States banknotes and related material included an uncut sheet of four different Delaware Colonial notes ($1,416); a proof circa-1850s $2 Hackettstown Bank obsolete note ($737); a newly discovered City of Newark (N.J.) 1865 obsolete one-year scrip sheet of four banknotes ($495); a first issue 10-cent perforated fractional ($560); and other highly collectible examples.

Security printing ephemera featured an 1891 original watercolor with a matching engraved large die proof of a Prairie Chicken ($620); an ornate Bradbury Wilkinson & Company advertising calendar with numerous vignettes of scenes and allegorical figures ($3,186); a Rawdon, Wright & Hatch advertising vignette sheet, circa 1850s ($738); and an extremely rare 1862 uncut pair of Assistant Treasurer of the U.S. gold coin certificates (Hessler X134F) that gaveled for $16,815.

U.S. and worldwide coins and medals were led by an unassuming lot of nine items estimated to bring $100-$200, but ended up fetching $10,030 because of a 1932 Lake Placid 3rd place bronze U.S. Olympic medal that was at first falsely thought to be a reproduction; a Grover Cleveland Indian Peace Medal, NGC graded MS 65 ($2,950); a pair of 1939 New York World’s Fair Palladium coins ($4,425); and a Confederate Stonewall Jackson medal from 1863 ($649).

Other highlights from the category included a British Colony coin assortment ($1,062); an 1858 Canada 10 cents coin NGC graded AU 58 ($737); a 1934 Palestine 20 Mils coin graded NGC MS 62 ($2,478); a Wayte-Raymond album of mostly uncirculated Indian and Lincoln head cents ($2,006); a 1909-S VDB Lincoln cent, rare and graded NGC MS 63 RB ($1,416); a large lot of Canadian large cents ($767); and a Newfoundland 1904H 20 cents coin graded AU 55 ($885).

The scripophily session was packed with rare stocks and bonds, including mining, railroads, technology and foreign bonds and shares. Highlights included a rare, early Mexican 1825 Real Compania de Guadalajara bond, issued and uncanceled ($2,350); an 1865 Mexican “Two Presidents” speculative bond ($2,124); and a collection of over 100 aviation certificates ($944).
Also sold was an 1899 certificate from the New York Electric Vehicle Transportation Company ($649); an 1869 proof City of New Orleans, State of Louisiana bond ($501); a 1925 Hamburg-American Line specimen bond ($885); a Russian 9% Railway Loan (Moscow) of 1927 specimen bond ($1,888); and a Bodie Bluff Consolidated Gold Mining Co. 1879 stock certificate ($944).

Railroads were well represented in the sale, with 178 bonds and shares. Top lots included an 1885 Vicksburg, Shreveport & Pacific Railroad Co. $1,000 bond specimen ($855); a rare 1892 Great Northern Railway Co.$1,000 specimen bond ($885); and an issued Lamoille Valley, Montpelier & St. Johnsbury and Essex County Railroad with rare imprinted revenues ($826). Also, 18 out of 19 Cuban and Caribbean Sugar Company stocks and bonds sold for between $140-$330 each.

The October 25th and November 4th auctions were the 21st event for Archives International Auctions since its founding in 2005. The firm has become synonymous with quality auctions dedicated to U.S. and worldwide banknotes, scripophily, coins, security printing ephemera, historic medals, philatelic material, postal history, historic documents, autographs and ephemera.

Archives International Auctions is always looking for U.S. and worldwide banknotes, coins, stocks, bonds, stamps, postal history, autographs and historic ephemera and documents for future auctions. To sell or consign one piece or an entire collection, you may call Archives International Auctions at (201) 944-4800; or you can send them an e-mail, to info@archivesinternational.com.

To learn more about Archives International Auctions and the firm’s calendar of upcoming auction events, please visit www.ArchivesInternational.com

Category: Auction News

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