Stack’s Bowers Galleries
is pleased to announce the results of their January 2017 NYINC World Paper
Money Sale. This sale produced pleasing results, with many lots fetching
above their high estimate. This sale solidified the notion that many areas of
the World Paper Money market are continuing to grow!
Among the notes to cross
the podium were some that had never before been offered notes, or that were
unique. These included the notes of Dr. Magid Al-Kimawi offered in lots 1169,
and 1170: issued 50 and 100 Tomans notes from the Imperial Bank of Persia. Lot
1169, Pick 7, brought $37,600 while Pick 8, the 100 Tomans in lot 1170 fetched
an outstanding $49,350! While a small amount of other issued examples have
recently surfaced, these were the first offered in auction, and Stack’s Bowers
is very proud to have set the tone for the market on these pieces.
Another special Iranian
offering was the book that contained an assortment of 36 Iranian specimens that
was offered in lot 1165 and sold for $30,550. This realization eased some
concern of a potential weakening of the specimen market for older Iranian
notes, and reestablished the belief that there are still many collectors
seeking these rare pieces.
Other highlights worthy
of mention include the 25 Riyals from Qatar and Dubai in PMG 25 in Lot 1331 that
sold for $17, 625. The Burundi issued PCGS Gem 65 PPQ notes also brought
staggering results. Lot 1052, the 500 Francs in Pick 6 sold for $10,575 while
lot 1053, the 1000 Francs, brought $9,400.
Of all the lots, none
brought more astonishing results than the issued, uncancelled Zanzibar
masterpiece in lot 1405 that sold for $129,250! This record price has the
entire hobby marveling, as it almost nearly doubled the already aggressive high
estimate.
Overall, for both bidders
and consignors, the Stack’s Bowers Galleries World Paper Money auction at the
January New York International Convention was a success. For those
considering consignment to a future Stack’s Bowers sale, the firm is currently
accepting consignments for the 2017 auction season. For more information,
or further inquiries please contact our World Currency Specialist at Aris@stacksbowers.com.
