Seldom-seen Palestine £100 Note Among PMG-certified Rarities in Spink Auction
Posted on 4/12/2022
Obtaining a Palestine Currency Board £100 note has been a challenge since that currency was first issued in 1927 in the British Mandate of Palestine. The value was extremely high, representing more than three times what many residents in the region would make in a month. Only 1,600 were printed, compared to the more than 9 million £1 notes. The Palestine Pound was phased out when the British rule in the region ended after World War II.
Today, the £100 notes are extremely rare and highly sought after. Many consider them to be the pinnacle of Middle Eastern currency collecting. One is being offered during a Spink auction that concludes on April 28, 2022. Paper Money Guaranty® (PMG®) is honored to have certified the note (lot 257), grading it PMG 15 Choice Fine.
The note, which is the first Palestine £100 to appear for sale in 15 years, has an estimate of £70,000 to £140,000 (about $91,000 to $182,000 USD). Fewer than 10 are known to the numismatic community.
Palestine Pound notes were issued in denominations of £1, £5, £10, £50 and £100. The notes include information in English, Arabic and Hebrew, major languages used in the territory at that time. The front side the £100 note includes a drawing of the Tower of Ramleh, a famous landmark that was once a minaret for a mosque. The back side of the note features a drawing of the Citadel of Jerusalem with the Tower of David.
Other PMG-certified highlights in the auction include:
- A consecutive pair of Palestine, Currency Board 1929 £10 notes, each graded PMG 55 About Uncirculated (lot 258), with an estimate of £28,000 to £36,000 (about $37,000 to $47,000)
- A consecutive pair of Palestine, Currency Board 1944 £5 notes graded PMG 45 Choice Extremely Fine and PMG 50 About Uncirculated (lot 259) with an estimate of £18,000 to £22,000 (about $23,000 to $29,000)
- A Zanzibar / British Administration 1908-28 5 Rupees graded PMG 15 Choice Fine (lot 319) with an estimate of £10,000 to £15,000 (about $13,000 to $20,000)
- An Arabian Gulf Currency Board ND (circa 1960s) 25 Riyals Front Artist’s Rendition graded PMG 63 Choice Uncirculated (lot 3) with an estimate of £9,000 to £14,000 (about $12,000 to $18,000)
- An India / British Administration ND (1917-30) 100 Rupees graded PMG 58 Choice About Unicrculated (lot 168) with an estimate of £10,000 to £14,000 (about $13,000 to $18,000)
- A Government of the East African Protectorate 1912-18 20 Rupees Color Trial Specimen graded PMG 55 About Uncirculated (lot 35) with an estimate of £7,000 to £12,000 (about $9,000 to $16,000)
- A Guernsey / British Administration £1 dated graded PMG 58 Choice About Uncirculated EPQ (lot 105) with an estimate of £8,000 to £12,000 (about $10,000 to $16,000)
- A Singapore Board of Commissioners of Currency ND (1980) 10,000 Dollars Specimen graded PMG 64 Choice Uncirculated (lot 286) with an estimate of £7,000 to £12,000 (about $9,000 to $16,000)
- A Sudan, Bank of Sudan 1996 10,000 Dinars graded PMG 25 Very Fine (lot 291) with an estimate of £8,000 to £12,000 (about $10,000 to $16,000)
All estimates are provided by the auction house. The $ symbol represents US Dollars.
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