Scarce PMG-certified Palestine £100 Note Dominates Spink Sale

Posted on 5/3/2022

The extremely rare banknote realized over $200,000 in the April World Banknotes sale.

High-denomination notes are highly desired and challenging to collect; the Palestine, Currency Board 1927 £100 banknote is no exception. One example certified by Paper Money Guaranty® (PMG®) realized an incredible £168,000 (about $210,500) to lead the way at a Spink auction held on April 28, 2022.

Palestine, Currency Board 1927 £100 graded PMG 15 Choice Fine.
Realized: £168,000 (about $210,500)
Click images to enlarge.

The Palestine Pound was produced during an era when the region was counted as part of the British Empire, which continued until the late 1940s. Only 1,600 examples of this high-value note were produced. Today, this £100 note, graded PMG 15 Choice Fine (lot 257), is one of about 10 known examples and is considered the highlight of any Middle Eastern currency collection.

The Palestine Pound features significant regional buildings, such as the Tower of Ramleh and the Tower of David. In addition, these banknotes include three languages: English, Hebrew and Arabic, which were used in the area at that time.

Other PMG-certified highlights in the Spink sale included:

  • a consecutive pair of Palestine, Currency Board 1929 £10 notes, each graded PMG 55 About Uncirculated (lot 258) that realized £33,600 (about $42,100)
  • a Zanzibar / British Administration 1908-28 5 Rupees graded PMG 15 Choice Fine (lot 319) that realized £28,800 (about $36,100)
  • an India / British Administration ND(1917-30) 100 Rupees graded PMG 58 Choice About Uncirculated (lot 168) that realized £16,800 (about $21,000)
  • a Guernsey / British Administration 1914-19 £1 graded PMG 58 Choice About Uncirculated EPQ (lot 105) that realized £16,800 (about $21,000)
  • a Singapore ND(1980) 10,000 Dollars Specimen graded PMG 64 Choice Uncirculated (lot 286) that realized £16,800 (about $21,000)
  • an India / British Administration 1918-22 50 Rupees graded PMG 25 Very Fine (lot 162) that realized £13,200 (about $16,500)
  • a Palestine, Currency Board 1945 500 Mils graded PMG 40 Extremely Fine (lot 266) that realized £12,000 (about $15,000)
  • an India, Reserve Bank ND(1937) 1,000 Rupees graded PMG 55 About Uncirculated (lot 172) that realized £9,600 (about $12,000)

All prices realized include buyer’s premium. The $ symbol represents US Dollars.

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