Palestinian banknote exchangeable for £100,000

Next Wednesday, April 14, Spink is carrying out an auction of rare banknotes of the world, and it may top their exceptionally successful sale of December last year.

In this case, the most exciting lots are a series of Palestinian banknotes. Regular readers will recall that lots representing that country were are particular success at the last auction, with four notes achieving £82,000 between them - including two which sold for ten times their estimates.

This time, however, the auctioneer is pitching a little higher with its goods. These include a specimen note from January 1, 1944. The £10 note, with CANCELLED stamped in perforations is primarily and mauvish blue with a green centre.

Depicting the white tower at Ramla on the left of the face with the red serial number C 000000, the extremely fine note features the Citadel of Jerusalem and Tower of David on the reverse. It carries a guide price of £15,000-20,000.

Palestinian 50 Mils rare banknote

A very interesting lot, also with an estimate of £15,000-20,000 appears alongside it. It is a pink-on-white 50 mils note from 26 March 1943, of a similar quality to the 50 Mils note offered in the previous auction, except for two 'hole punch' perforations.

The last auction also included a 'hole-punched' 100 Mils note. Both that and the previous 50 Mils note exceeded their £2,000-3,000 estimates to sell closer to the price expected for the current note.

The star lot, however, is expected to be a green £100 trial note from circa 1938. The history of this type of note is not well recorded, but it is thought the design was submitted for trial, but rejected in 1939.

Palestinian £100

The exceptionally fine, attractive and extremely rare note is expected to sell for an enormous £100,000, and it makes the event attractive for notaphilists even if only as an opportunity to see it.

The sale takes place in London, and we will be reporting the results here.


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