PMG-certified Greek Note Realizes More than $60,000

Posted on 6/19/2023

The note was the top lot in a June 2023 Karamitsos auction, selling for several multiples of its starting price.

An early Greek banknote was among hundreds of PMG-certified rarities in a sale presented by A. Karamitsos International Auctions. Coins, Medals & Banknotes Auction 718 was held June 17-18, 2023.

The top lot in the sale was a Greece, National Bank 1871-86 25 Drachmai graded PMG 20 Very Fine (lot 6569), which realized €56,640 (about $62,000). This is several multiples of the starting price provided by the auction house, which was €9,000 (about $9,700). This rare note is one of only four in the PMG Population Report, with only one graded higher.

Greece, National 1871-86 25 Drachmai graded PMG 20 Very Fine
Click images to enlarge.

Other PMG-certified highlights in the auction included:

  • a Greece, National Bank ND (1872-86) 500 Drachmai Specimen graded PMG 50 About Uncirculated EPQ (lot 6570), which realized €25,960 (about $28,000)
  • a Greece, Provisional Administration 1822-24 100 Grossi graded PMG 20 Very Fine (lot 6568), which realized €21,240 (about $23,000)
  • a Bulgaria, National Bank ND(1899) 10 Leva Srebro Specimen graded PMG 58 Choice About Uncirculated EPQ (lot 7394), which realized €14,248 (about $16,000)
  • a Greece, Bank of Greece / Regional World War II 1944 1,000,000,000 Drachmai graded PMG 58 Choice About Uncirculated EPQ (lot 6760), which realized €6,490 (about $7,100)
  • a Greece, National Bank 1921-22 500 Drachmai graded PMG 65 Gem Uncirculated EPQ (lot 6582), which realized €5,664 (about $6,200)
  • a Greece, National Bank 1901 500 Drachmai graded PMG 63 Choice Uncirculated EPQ (lot 6578), which realized €5,664 (about $6,200)
  • a Cyprus / British Administration 1955-57 1 Pound graded PMG 66 Gem Uncirculated EPQ (lot 6831), which realized €5,428 (about $5,900)

Prices realized include buyer's premium.

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