An extremely rare Australian specimen note sold for nearly $9,000 at a May 20 auction by Archives International Auctions in Fort Lee, N.J.
The Commonwealth of Australia 1974 $50 specimen note sold for $8,850. The note had an estimate of $8,000 to $16,000. It was graded by Paper Money Grading as Choice About Uncirculated 58 Net with a notation of being “previously mounted,” according to the catalog.
Of the more than 630 lots offered, 433 sold for an overall sell-through rate of 68.5 percent in the auction that grossed $219,188.
Tasmanian Devil Collection
The note was part of the first installment of “The Tasmanian Devil Collection,” a total of 31 lots which included rare Australian replacement and specimen notes.
The lots represented one of the largest offerings of rare, modern Australian notes offered in the United States in decades, said Robert Schwartz, AIA president.
A 1932 Commonwealth of Australia £5 note, graded by Paper Money Guaranty as Very Fine 30 Net “with a note of PVC,” according to the catalog, sold for $3,422. The note had an estimate of $3,500 to $5,000.
A 1984 Commonwealth of Australia $20 note bearing serial number 1, graded by PMG as Gem Uncirculated 65 Exceptional Paper Quality, sold for $2,422. The note had an estimate of $5,000 to $10,000.
Other world note highlights
A 1973 to 1976 specimen set of five banknotes from the United Arab Emirates sold for $16,520 during the auction against a pre-sale estimate of $7,500 to $12,500.