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Gilbert & Ellice Islands Gilbert and Ellice Islands Colony 1 Pound 1.1.1942 Pick 5 PMG Choice Extremely Fine 45.. ...
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Sold on Oct 16, 2025 for:
$10,500.00
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Description
Incredibly Rare Emergency Issue of 1942
Gilbert & Ellice Islands Gilbert and Ellice Islands Colony 1
Pound 1.1.1942 Pick 5 PMG Choice Extremely Fine 45.Wartime eras have throughout history have caused coin and currency shortages, and that is especially true for small or remote locales. The Gilbert and Ellice Island Colony, present day Kiribati and Tuvalu, experienced a shortage of coinage and paper money in 1941, and created an emergency series of notes in denominations of 1 Shilling, 2 Shillings, 10 Shillings, and 1 Pound. The decision to create this simply designed but necessary paper money was spurred by a lack of funds to pay workers of the Pacific Phosphate Company.
Once these notes were issued, their simplicity caused some hesitation, but when the public realized this was the only form of currency in the remote islands, they were accepted. Redemption was a bit tricky as well, as notes were paid into accounts in Australia via the Government in the Gilbert and Ellice Islands. Because of the simple printing and lack of security features, virtually all notes from this 1942 series were redeemed. At the time of cataloging, this impressive £1 is the finest graded of only three examples present in the PMG Population Report. A pinhole and paper damage are mentioned for accuracy, but since these notes were cut by hand, the one rough margin may have been "as-made." A simply incredible World War II issue that is missing from nearly all relevant collections. Not to be missed.
Auction Info
2025 October 16 World Paper Money Signature® Auction #4056 (go to Auction Home page)
Auction Dates
October, 2025
16th
Thursday
Bids + Registered Phone Bidders: 2
Lot Tracking Activity: N/A
Page Views: 483
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20% of the successful bid per lot.
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