PMG-certified British India 'Discovery Note' Realizes £74,400

The Spink October 2019 world banknotes auctions in London featured over 750 notes certified by Paper Money Guaranty® (PMG®). The top 20 highest-realizing notes were all PMG-certified.

An India / British Administration 1925 1,000 Rupees – Kurrachee graded PMG 25 Very Fine realized £74,400 (about $94,000 USD), including the buyer’s premium. This note is considered a “discovery note” because it was not previously known to specialists. Overall, the India section performed very well, attesting to the interest in Indian rarities.

India / British Administration 1925 1,000 Rupees – Kurrachee graded PMG 25 Very Fine, Price Realized: £74,400 (about $94,000 USD) Click image to enlarge.

PMG-certified East African notes also realized high prices. For example, an East Africa, Currency Board 1947-51 10,000/- Shillings (£500) – Nairobi graded PMG 58 Choice About Uncirculated EPQ realized £91,200 (about $115,600 USD), which was over three times the starting bid.

Other PMG-certified highlights in the Spink world banknotes auction included:

• An East Africa, Currency Board 1921 10,000/- Shillings (£500) – Mombasa graded PMG 35 Choice Very Fine realized £86,400 (about $110,000 USD).
• An East Africa, Currency Board 1920 20 Florins (£2) – Mombasa graded PMG 55 About Uncirculated realized £84,000 (about $106,000 USD).
• An East Africa / British Administration 1912 50 Rupees – Mombasa graded PMG 62 Uncirculated realized £78,000 (about $99,000 USD).
• An East Africa / British Administration 1912-16 500 Rupees – Mombasa graded PMG 53 About Uncirculated NET realized £74,400 (about $94,000 USD).
• An India / British Administration 1865 50 Rupees Proof graded PMG 50 About Uncirculated realized £62,400 (about $79,000 USD).
• An East Africa, Currency Board 1920 50 Florins graded PMG 53 About Uncirculated realized £57,600 (about $73,000 USD).
• An India Undated 1,000 Rupees Progressive Proof graded PMG 64 Choice Uncirculated EPQ realized £43,200 (about $55,000 USD).

All prices realized include buyer’s premium.