PMG-certified Russian-American Note Realizes $192,000

A very rare Russian-American Company banknote graded by Paper Money Guaranty® (PMG®) led the way at the Heritage Auctions FUN World Currency sale held January 21-22, 2021. The price realized of $192,000 was far above the pre-auction estimate of $80,000 and up.

The Russian-American Company ND (1820s-60s) 25 Rubles graded PMG 55 About Uncirculated is a superb example of the currency used for decades by the Russian firm. The Russian-American Company was formed in 1799 in order to capitalize on the fur trade and other opportunities in Alaska and elsewhere in North America.

Russian-American Company ND (1820s-60s) 25 Rubles graded PMG 55 About Uncirculated. Realized: $192,000 Click images to enlarge

Russian-American notes were often printed on parchment made from animal skin, such as walrus. It is one of an estimated 150-200 total notes produced by the Russian-American Company still in existence today, and the only known 25 Rubles example, according to Heritage.

Nineteen of the top 20 prices realized in the sale were for PMG-certified lots, underscoring PMG's expertise authenticating and grading world banknotes. Other PMG-certified highlights included:

• a pair of Dominion of Canada 1924 $50,000 Front & Back Bank Specials both graded PMG 64 Choice Uncirculated that realized $45,600
• a Spain, Banco de España 1880 500 Pesetas graded PMG 25 Very Fine that realized $45,600
• a East Africa Currency Board 1921 10,000/- Shillings = 500 Pounds graded PMG 30 Very Fine that realized $36,000
• a Spain, Banco de España 1876 100 Pesetas graded PMG 35 Choice Very Fine that realized $24,000
• a Canada, The Quebec Bank 1908 $5 graded PMG 20 Very Fine that realized $24,000
• a East Africa Currency Board 1920 20 Florins = £2 graded PMG 45 Choice Extremely Fine that realized $24,000
• a Spain, Banco de España 1876 1000 Pesetas graded PMG 15 Choice Fine that realized $24,000
• a Spain, Banco de España 1884 1000 Pesetas graded PMG 40 Extremely Fine that realized $24,000
• a Spain, Banco de España 1876 500 Pesetas graded PMG 20 Very Fine that realized $21,600
• a Spain, Banco de España 1884 500 Pesetas graded PMG 53 About Uncirculated that realized $21,600

Prices realized included buyer's premium and are in US dollars. Estimates are provided by the auction house.