For nearly 40 years, David J. Saul, former premier and minister of
finance of Bermuda, steadily assembled his collection of Bermuda bank notes.
Today many charities on that island nation are benefitting from
the £398,760 ($640,739 in U.S. funds) realized at the Oct. 4 auction
of his collection by Spink of London. The pre-auction estimates
projected that the 295 lots would sell for at least £200,000
($321,366). The collection had notes dating back to the late 19th century.
Saul bought most of his notes from overseas collectors and auction
houses and, according to Spink, the “hunt” for the notes added a fun
dimension to building the collection.
A Bermuda Government £5 note dated Aug. 1, 1941, and with serial
number A 000001, sold for £45,600 ($73,271). That figure includes the
5 percent VAT on the hammer price of £38,000 in addition to the 20
percent VAT on the 20 percent buyer’s fee, according to the catalog.
The estimate for the note was between £10,000 and £15,000 ($16,068 to $24,102).
A Bermuda Government £5 note dated Oct. 20, 1952, and with serial
number A/1 000001, sold for £30,000 ($48,205), including the buyer’s
fee and taxes.
For the full list of prices realized for this auction, visit the
Spink website at www.spink.com. The
firm can also be reached by sending an email to firstname.lastname@example.org or by writing to Spink
and Son Ltd., 69 Southampton Row, Bloomsbury, London WC1B 4ET, United