PMG-certified Lebanon Rarity Offered in Stack’s Bowers Galleries Auction
Posted on 6/23/2025
A Lebanese rarity that is certified by Paper Money Guaranty® (PMG®) and rarely found in high grade is expected to have collectors taking note in a Stack’s Bowers Galleries auction this summer. Online bidding is already underway for the Mid-Year 2025 World Paper Money Auction, which will be held on July 8, 2025.
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A remarkable rarity leading the way in this auction is a Lebanon 1939 250 Livres Specimen graded PMG 64 Choice Uncirculated (lot 70323), with an estimate of $30,000 to $50,000. This standout piece from the 1939 Banque de Syrie et du Liban series was created during the French Mandate period for both Lebanon and Syria, reflecting the complex colonial and monetary history of the region. The obverse depicts the baptistery of St. John’s Church in Byblos, one of the oldest continuously inhabited cities in the world. The reverse shows the Sea Castle in Sidon, a 13th-century Crusader fortress built on a small island connected to the mainland by a narrow causeway.
Despite their striking design and historical importance, high-grade surviving examples of this note are difficult to find today. Even Specimens, which were never circulated, often show handling wear and typically appear in much lower grades. This particular note is the finest-known example of its type, whether issued or Specimen, and the only one PMG has ever graded in Uncirculated condition.
Other PMG-certified highlights in this auction include:
- a Denmark, National Bank in Copenhagen 1888-1902 100 Kroner graded PMG 58 Choice About Uncirculated EPQ (lot 70109), with an estimate of $15,000 to $17,000
- a Belgian Congo, Banque du Congo Belge 1929 100 Francs graded PMG 30 Very Fine (lot 70013), with an estimate of $5,000 to $10,000
- a Syria / French Administration 1919 50 Piastres graded PMG 58 Choice About Uncirculated (lot 70411), with an estimate of $4,000 to $8,000
- an Iran, Bank Melli ND (1938) 10,000 Rials Specimen graded PMG 63 Choice Uncirculated (lot 70226), with an estimate of $5,000 to $7,000
- a Burma / British Administration ND (1937) 5 Rupees graded PMG 35 Choice Very Fine (lot 70033), with an estimate of $3,000 to $6,000
- a France, Tresor Central ND (1944) 5,000 Francs Specimen graded PMG 64 Choice Uncirculated EPQ (lot 70152), with an estimate of $3,000 to $5,000
- an Iran, Bank Melli (1938) 10,000 Rials Specimen graded PMG 55 About Uncirculated (lot 70227), with an estimate of $3,000 to $5,000
- an Iraq, Government of Iraq 1931 1/4 Dinar graded PMG 12 Fine (lot 70271), with an estimate of $3,000 to $5,000
Estimates are provided by the auction house. The $ symbol indicates US Dollars.
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