Notes of Canada, Colombia, British Honduras draw most attention in auction

Stack’s Bowers Galleries sale during NYINC focuses on world paper money
By , Special to Coin World
Published : 01/20/18
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Stack’s Bowers Galleries ran a pair of paper money auctions at the New York International Coin Convention Jan. 11 and 12. One sale was of 481 lots of diverse world currency, while the other, the Eldorado Collection, comprised 605 lots of Colombian paper money.

All four top lots in the world sales sold above their estimates, including an extremely rare 1894 $1 note of British Honduras featured on the catalog cover. One of three known, it sold for $57,600 on an estimate of $30,000 to $50,000. Paper Money Guaranty graded it Very Fine 20 Net, Ink Stamp, Splits, Minor Rust. 

Collectors’ Clearinghouse author Mike Diamond identifies a new kind of error. Also inside this issue, protecting your paper money collection from mold and advice for participating in online auctions.

The other three notes were Canadian. Selling at $24,000, after a $10,000 to $15,000 estimate, was a serial number 9 Series 1935 Banque du Canada $5 note in PMG Gem Uncirculated 65 Exceptional Paper Quality. Orange with French text, it features Prince Edward of Wales and a male allegory of Electric Power.

Another Banque du Canada serial number 9 note from Series 1935, with the same estimate, sold for $20,400 in PMG Gem Uncirculated 65. The $2 note shows Queen Mary and a transportation allegory with Mercury, trains, and ships. 

Finally, at $12,600 was a PMG VF-20 Union Bank of Canada $50 note issued at Winnipeg on July 1, 1912; it beat its low estimate by $6,500 but fell a bit short of its $25,000 upper number. It may be the only example known.

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The Colombian sale was characterized by a number of notes that didn’t just beat their estimates, they shattered them. Among the many examples: A Banco de la República Billete provisional overprint on a Casa de Moneda de Medellín 5-peso note of 1923 sold for $33,600 (against an estimate of $6,000 to $9,000). A matching low serial number 3 1923 gold note set of 1-, 2-, 5-, and 10-peso issues reached $84,000 (estimate: $2,500 to $5,000). 

Both sales, with prices realized, are recorded at the firm’s website.

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