The Jan. 4 floor session auction of world notes by Heritage Auctions
resulted in sales of $1,348,808, including the 20 percent buyer’s fee,
for 475 lots.
As expected, a set of extremely rare Australian World War I
occupation notes for German New Guinea dominated the prices realized
at $168,000. The 5-, 10-, 20-, and 50-mark notes ranged in grade from
Paper Money Guaranty Very Fine 35 to About Uncirculated 53. The only
note missing from the series was the 100-mark issue. This was the
first time that two of the denomination had been offered at auction in
A South Vietnamese National Bank of Viet Nam 1,000-dong specimen
note of 1955–1956 in PCGS Currency Gem New 65 Premium Paper Quality
went for $40,800. The brilliantly-colored note was described as one of
the most popular engravings on all of world paper money, and one of
South Vietnam’s most desirable designs.
Connect with Coin World:
up for our free eNewsletter
Like us on
us on Twitter
Assignats are usually associated with the paper money of the French
Revolution, when they were issued backed by seized property, and then
depreciated rapidly. They also existed in Russia as assignatsionny
rubl (assignation rubles) that were issued by banks established by
Catherine the Great. They were the first paper money of Russia and
circulated from 1769 to 1849, with a bit more success than their
French counterparts. There were six issues of multiple denominations
in total. Two examples saw the kind of results we have come to expect
from Russian coin sales. A 10-ruble note from the third issue, dated
1788, sold for $33,600 in PMG VF-25 with minor repairs, and a 25-ruble
note of 1803 graded PMG VF-30, Repaired, realized $28,800.
When the assignation rubles were withdrawn from circulation in 1843,
they were replaced by state credit notes. One of them, an 1857
25-ruble note graded PMG VF-25 and the best of the three notes the
service has graded, reached $21,600 in the auction.
Collectors and dealers alike call many Hawaii Territory national
bank notes “trophy notes.” Their predecessors, issued when the islands
were an independent kingdom, are even more so, such as two in the
sale. Both were undated $100 silver certificates of deposit printed by
the American Bank Note Co. and issued in 1879. The first, selling for
$45,600, and originally from the collection of Eric P. Newman, was an
unissued and unsigned remainder graded Choice AU-58 by PCGS Currency.
The second was an issued example of the same note that brought $31,200
despite being graded only Good 6 by PCGS Currency. The reason for the
low grade but high price, Heritage explained, was that of the very few
high denomination notes released, nearly all were subjected to the
hardships of a tropical climate.