PMG-graded Falkland Islands Rarity Offered in Sedwick Auction

Posted on 10/7/2019

The note, certified by PMG, is a rare example of a century-old 1 Pound note from a far-flung part of the United Kingdom.

Daniel Frank Sedwick, LLC will auction an extremely rare Falkland Islands 1 Pound note that has been certified by Paper Money Guaranty (PMG). The note is part of the November 1-2, 2019 Sedwick auctions being held in Lake Buena Vista, Florida, and has a starting bid of $3,000 (USD).

The Falkland Islands are an archipelago located about 300 miles east of Argentina’s Patagonian coast. The United Kingdom asserted its claim to the islands by establishing a naval garrison there in 1833, and today the Falkland Islands are a British Overseas Territory with the United Kingdom taking responsibility for its defense and foreign affairs.

This rare uniface note, listed as Pick# A3 in the Standard Catalog of World Paper Money, is part of the first series of paper money issued for the British-administered Government of the Falkland Islands notes. Graded PMG Fine 12, the note is stamp-dated 3 March 1915 with three manuscript signatures at the bottom right.

Falkland Islands, Pick# A3, 1915 1 Pound, PMG Fine 12, FRONT, above, and back, below.
Click image to enlarge.

As the Fine 12 grade suggests, the note shows signs of circulation and has been previously mounted. However, the note faces up very well for the grade and exhibits clearly legible signatures and date. Just a handful of these amazing 1 Pound notes are known. To date, PMG has graded a total of just two issued notes — this Fine 12 being one, the second being a Very Fine 30 with serial number 1 that last sold in public auction in August 2013 for £19,000 (about $29,000 USD at prevailing exchange rates of the time). In addition, PMG graded an Extremely Fine 40 unissued remainder with counterfoil that sold in public auction in June 2017 for $7,000 (USD).

This 1915-dated note harkens back to the time of one of the most decisive naval battles of World War I, the December 1914 Battle of the Falkland Islands, during which the Imperial German Navy’s attempt to raid the Falkland Islands was thwarted by the British Navy. Germany lost nearly 2,000 sailors and four ships in the battle, compared with 10 British deaths. The battle is commemorated every year on December 8th in the Falkland Islands as a public holiday.

The sovereignty status of the Falklands (or the Islas Malvinas in Spanish) is part of an ongoing dispute between Argentina and the United Kingdom. In recent times, tensions hit a flash point when Argentina invaded the Falklands in an armed conflict in 1982, briefly occupying them until a UK expeditionary force regained control over the territory.

Paper money collectors of both the Falklands Islands and Argentina will have a keen interest in this first 1 Pound denomination issue by the Government of the Falkland Islands.

Connor Falk of Daniel Frank Sedwick Auctions commented: “We're pleased to offer this historical Falklands note. Given its rarity and the added confidence of being authenticated and graded by PMG, I believe this note will attract spirited bidding.”

To see more rarities offered in the Sedwick auctions, click here.

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