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The Stack’s Bowers World Paper Money Auction at the January New York International Sale
Author: Stack's Bowers Galleries
Monday, January 23, 2017
SANTA ANA, CA.(January 23, 2017) — Stack's Bowers Galleries is pleased to announce the results of their January 2017 NYINC World Paper Money Sale. This sale produced pleasing results, with many lots fetching above their high estimate. This sale solidified the notion that many areas of the World Paper Money market are continuing to grow! (All prices realized include the standard buyer's premium).
This International sales was set apart by a few never before offered notes, or unique offerings crossing the podium. Such lots were Dr. Magid Al-Kimawi's notes that were offered in lots 1169 and 1170 – issued 50 and 100 Tomans notes from the Imperial Bank of Persia. Lot 1169, Pick 7, brought $37,600 while Pick 8, the 100 Tomans in Lot 1170 fetched an outstanding $49,350! Although a small number of other issued examples have recently surfaced, these were the first offered in auction, and Stack's Bowers is very proud to have set the tone for the market on these pieces.
Also notable was the Iranian book containing an assortment of 36 Iranian specimens that was offered in Lot 1165 and sold for $30,550. This realization eased any concern of a potential weakening of the specimen market for older Iranian notes, and reestablished that there are still many collectors seeking these rare pieces.
Other highlights worthy of mention included a 25 Riyals from Qatar and Dubai in a PMG 25 (lot 1331) that sold for $17, 625. The Burundi issued PCGS Gem 65 PPQ notes also brought staggering results. Lot 1052, the 500 Francs in Pick 6 sold for $10, 575 while lot 1053, the 1000 Francs, brought $9,400.
Of all of the lots in the sale, none brought more astonishing results than the issued, uncancelled Zanzibar masterpiece in lot 1405 that realized $129,250! This record price has the entire hobby marveling, as it nearly doubled the already aggressive high estimate.
Overall, for both bidders and consignors, the Stack's Bowers Galleries World Paper Money auction at the January New York International sale was a success. For those considering consignment to a future Stack's Bowers sale, the firm is currently accepting consignments for the 2017 auction season. Consignment specialists can be reached at 949-253-0916 or via email at info@StacksBowers.com.
About Stack's Bowers Galleries
Stack's Bowers Galleries conducts live, Internet and specialized auctions of rare U.S. and world coins and currency and ancient coins, as well as direct sales through retail and wholesale channels. The company's 80-year legacy includes the cataloging and sale of many of the most valuable United States coin and currency collections to ever cross an auction block — The D. Brent Pogue Collection, The John J. Ford, Jr. Collection, The Louis E. Eliasberg, Sr. Collection, The Harry W. Bass, Jr. Collection, The Norweb Collection, The Cardinal Collection and The Battle Born Collection — to name just a few. World coin and currency collections include The Louis E. Eliasberg, Sr. Collection of World Gold Coins, The Kroisos Collection, The Alicia and Sidney Belzberg Collection, The Wa She Wong Collection, The Guia Collection, The Thos. H. Law Collection, and The Robert O. Ebert Collection.
Topping off this amazing numismatic history is the inclusion of the world record for the highest price ever realized at auction for a rare coin, the 1794 Flowing Hair Silver Dollar graded Specimen-66 (PCGS) that realized over $10 million, part of their sale of the famed Cardinal Collection. The company is headquartered in Santa Ana, California, with offices in New York, Wolfeboro, Hong Kong, and Paris. Stack's Bowers Galleries is an Official Auctioneer for several important numismatic conventions, including American Numismatic Association events, the New York International Numismatic Convention, the Professional Numismatists Guild New York Invitational, the Whitman Coin & Collectibles Spring, Summer and Winter Expos, and its April, August and December Hong Kong Auctions.