Spring Paper Money Auction At Spink Smythe Sees Strong Demand For World Banknotes

New York, NY (PressExposure) April 19, 2008 -- Spink Smythe's March 20th (auction #278), spring paper money auction was well received by collectors of world banknotes, with heated bidding on higher quality lots. As has become the trend at Spink Smythe during recent numismatic auctions, quality lots have once again inspired bidders. This was typified by frantic bidding on several lots where the final bid well exceeded their pre-auction estimates. One of the more interesting lots offered was a 1932 Bank of Ethiopia, 500 Thaler, uncirculated note (see photo) which was described by Spink Smythe's cataloger as "Very rare in this perfect original condition. Finest this cataloger has seen and there can be none better." The pre-auction estimate on this note was $2500 to $3000. The final bid came in at $4000. The acquisition of quality world paper currency was not restricted to this one note. Other lots that saw strong interest included:

Lot #32 - Presale estimate $1,500-$2,000. Realized - $2,300 Bermuda Government. 1.5.1957. 5, 10 Shillings; 1, 5 Pounds. P-18b, 19b, 20b, 20c, 21b, 21c. Complete set of the 1957 QEII issue. The 5 Pound note with security strip is perforated "CANCELLED" across the front. All notes are fully original. Uncirculated, Uncirculated, Choice AU, Uncirculated, Choice AU, Uncirculated.

Lot #43 - Presale estimate $1,400-$1,650. Realized - $2,200 British Caribbean Territories. 2.1.1957; 2.1.1961. 1 Dollar. P-7b, 7e. Uncirculated. 3) 2.1.1964. 2 Dollars. P-8c. Uncirculated. 4) 2.1.1962. 5 Dollars. P-9c. Uncirculated. 5) 2.1.1962. 20 Dollars. P-11b. Lightly pressed VF

Lot #114 - Presale estimate $3,000-$3,500. Realized - $4,750 Government of Fiji. 1940 Provisional Issue. 1 Pound. P-45a, c. Two different overprint varieties. Problem-free. F-VF. 3) 5 Pounds. P-46b. No holes, tears or other problems. Paper has good body for formal grade. Much rarer than the 1 Pound overprints. Fine.

Lot #193 - Presale estimate $2,000-$2,500. Realized - $2,500 Government of Mauritius. 1954. 25 Rupees. P-29. Green QEII type and realistically the highest collectable denomination in the 1954 series. This one has a faint centerfold and small couple of spots on the back. Perhaps lightly book-pressed, but much originality evident. Quite attractive and rare in this high grade. Choice AU.

Lot #273 - Presale estimate $3,000-$4,000. Realized - $5,000 Large World Collection. Mostly circulated notes, some duplicates. Neatly organized alphabetically in glassine envelopes with catalog numbers and old evaluations.

Lot #282 - Presale estimate $3,000-$4,000. Realized - $4,250 $1. Fr.18. 1869. No.B6747114. Gem Uncirculated. Brilliantly colored Rainbow with less than perfect centering on the back. Nonetheless graded CGA 66.

Although World banknotes saw a great deal of action at the spring sale, several notes of U.S. origin also peaked the interest of collectors and saw strong bidding. Two noteworthy lots were:

Lot #698 - Presale estimate $1,500-$3,000. Realized - $4,500 AL. State of Alabama. 37 1/2 cents. 1st of June, 1822. (Cr. C66). Extremely Rare. Plate B. Uniface. Unnumbered and unsigned. Steamship. "ALABAMA". In ornate panel across left end. "TREASURY". In ornate panel across right end. Inscription: /The bearer is entitledto/ RECEIVE AT THE TREASURY OF THE STATE OF ALABAMA, /Thirty seven and a half Cents./ /Receivable also in taxes and all other publick dues. Issued conformably to the act of Dec/. 19, 1821. R-11.

Lot #805 - Presale estimate $2,000-$3,000. Realized - $3,500 Unusual denomination. RI. /Wakefield, South Kingstown. /Bank of the South County. $15. 18_. Proof on India paper mounted on card. Central allegorical trio with fasces, wheat, caduceus and U.S. Shield. Left sailor and Prosperity with Flag, cornucopia, anchor. Washington on horseback. Toppan, Carpenter, Casilear. Choice Uncirculated.

"Collectors have once again made it clear that they are looking for quality lots." said Mary Herzog, Vice President of Spink Smythe." Spink Smythe is in the unique position to bring it to them because consignors trust us with their quality merchandise. When you bring fervent collectors together with quality merchandise, the result is the success we saw in our Spring auction."

Realized prices listed, unless otherwise noted, do not include the 15% buyers premium. A complete catalog of all lots including photos and realized prices can be viewed online at: http://static.smytheonline.com/prices_realized/index.php

Accredited media interested in scheduling an interview to discuss this release or past or upcoming auctions are encouraged to contact Mary Herzog at 212-943-1880

About R. M. Smythe and Co

Established in 1880, Spink Smythe buys, sells, and auctions coins, paper money, stocks and bonds and autographs at their corporate headquarters at 2 Rector Street in the heart of the Financial District in New York City. To order a catalog, to contact any of the firm's specialists, or to make general inquiries, call 212-943-1880 or 800-622-1880, or visit the firm's website at: http://www.smytheonline.com

Press Release Source: http://PressExposure.com/PR/R._M._Smythe_and_Co.html

Press Release Submitted On: March 29, 2008 at 3:56 am
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