Dix Noonan Web London sale offers valuable paper notes

Arthur L. Freidberg highlights offerings from an upcoming London auction in December
By , Special to Coin World
Published : 10/31/15
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Two extremely rare high-denomination bank notes issued in Malaya and British Borneo in 1953 will be among the rarities in an auction sale of paper money, coins, medals, and tokens being held by Dix Noonan Webb in London from Dec. 7 to 9.

The Malaya and British Borneo notes are both dated 21 MARCH 1953 and bear the signature of W.C. Taylor, chairman of the newly established Board of Commissioners of Currency for Malaya and British Borneo. Previously the two territories had issued separate notes. The changeover to the combined currency coincided by chance with the death of King George VI, so these notes bear the portrait of the young Queen Elizabeth II as well as the name of the new board.

The two highlighted notes are a $10,000 note estimated at £12,000 to £15,000 ($18,400 to $23,000), and a $1,000 note, expected to bring £10,000 to £12,000 ($15,300 to $18,400). Both are extremely rare, with the number of known examples in single figures.

Neither of these particular notes has been on the market before. They were produced as specimens to familiarize bank staff handling notes with this entirely new series.

Although the $1,000 denomination note was issued to the public, the $10,000 issue was restricted to inter-bank use. Both were of high value, the exchange rate at the time being 8.57 Malaya and British Borneo dollars to the pound.

The auction will also include a Singapore $1,000 specimen note. This is from the first series of notes for Singapore in 1967, known as the “Orchid Series.” The $1,000 note is scarce as an issued note and rare as a specimen. This example is estimated at £2,000 to £2,500 ($3,100 to $3,800). More information is at www.dnw.co.uk.

 

 

 

 

 

 

 

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