LOT #28219 |
Sold on Sep 18, 2020 for: Sign-in
or Join (free & quick)
East Africa East African Currency Board 1000 Shillings = 50 Pounds 15.12.1921 Pick 18 PMG Choice Extremely Fine 45.. ...
Click the image to load the highest resolution version.
Sold on Sep 18, 2020 for:
$24,000.00
Bid Source: Internet bidder
Get one of these:
Explore Available Items
Description
A Low Numbered George V High Denomination
East Africa East African Currency Board 1000 Shillings = 50
Pounds 15.12.1921 Pick 18 PMG Choice Extremely Fine 45.The East African Currency Board, founded in 1920, was tasked with providing for the currency and banking needs of the colonies of Kenya, Uganda, Tanzania, Zanzibar, and later, Somaliland and Aden. In 1921, the group adopted the Shilling, which remains the currency standard in all the former African colonies that were previously under British control.
An interesting blend of colors adorn the face of the 1000 Shillings, which was equivalent to £50 at the time. This was 10 times higher than the highest denomination typically seen in British Colonies that used the Pound system. As such, limited print totals were executed, in response to the small demand. In fact, 1000 Shillings was such a large amount of money that most of these banknotes were used as clearing tools within the banking system itself. Purchases of automobiles, or plots of land, however, could have been paid using a note of this caliber. Evidence suggests that some examples did, in fact, circulate. In 1964, the Currency Board commented that no new notes were needed of this denomination, and known examples were actively being redeemed. All but 222 have been accounted for at this time. The example on offer is serial number 24 for the date and type. This adds desirability to an already extremely rare type. Lightened stains, mentioned on the back of the third party holder, do little to diminish the overall impression of this splendid example, which shows limited folding and handling. At the time of cataloging, this is only the second example to be offered in public auction, and only the fourth graded in the PMG Population Report. Iconic, extremely rare, and missing from even the best collections of African, British Commonwealth, and King George V portrait banknotes.
View Certification Details from PMG
Auction Info
2020 September 18 World Paper Money Signature Auction - Dallas #4025 (go to Auction Home page)
Auction Dates
September, 2020
18th
Friday
Bids + Registered Phone Bidders: 1
Lot Tracking Activity: N/A
Page Views: 1,190
Buyer's Premium per Lot:
20% of the successful bid per lot.
Shipping, Taxes, Terms and Bidding
Terms and Conditions | Bidding Guidelines and Bid Increments | Glossary of Terms | Currency Grading Tutorial
Important information concerning Sales Tax and Resale Certificates. Learn More
Terms and Conditions | Bidding Guidelines and Bid Increments | Glossary of Terms | Currency Grading Tutorial