2016-06-13 Mon

The 40th International Paper Money Show was held in Memphis, Tenn from 2nd to 5th June. The prime attraction at the sale was banknotes of Philippines. Officials have stated that the value of banknotes has seen an upward trend and were extremely delighted to see 24 notes auctioned for over $10,000 each. Four of these were currency notes of Philippines and were sold for more than $10,000 each.

One of these Philippine notes was the first ever note to be issued under the government of America. It was graded “Extremely Fine 40 Exceptional Paper Quality” by Paper Money Guaranty and was sold for a whopping $23,500.

A light blue uniface 25-peso Billete del Tesoro or Treasury bill from the Spanish Philippine, dated April 26, 1877, graded “PCGS Currency EF-45”, was sold for $21,150. This note was known to be the highest denomination note of its times.

A light-brown 10-peso Treasury bill from the Spanish Philippine, dated April 26, 1877 was sold for $20,562.50. It was an unknown type until now and is graded “Very Fine 35 ‘Apparent edge tears and minor damage’” by PCGS Currency.

A set of 8 undated Philippine notes from 1944, belonging to Supreme Court Justice Abe Fortas, featuring the same serial number F0000008 of 1-, 2-, 5-, 10-, 20-, 50-, 100-, and 500-peso denominations was sold for $28,200. The grading of these notes ranged from “About Uncirculated 58” to “Gem Uncirculated 65”.

Another Philippine note dated 26th April, 1877, graded “1877A PCGS Currency VF-30 Apparent” was sold for $16,000. A 1-peso Treasury bill, dated 26th April, 1877, graded “PCGS Currency rated VF-25 Apparent” was sold for $15,275.

A green and yellow Government of the Straits Settlements $10 specimen note dated 1st Jan, 1925, with red overprints and an all-zeros serial number, graded “PMG Choice Uncirculated 64” was sold for $19,975.

A 1968 Bahamas Monetary Authority $100 issue, the highest denomination in the Queen Elizabeth II series, graded “PCGS Currency VF-35” was sold for $17,625.

A Central Bank of the Bahamas $50 note from 1974, graded “Gem Uncirculated 66” was sold for $15,275, three times more than its estimate value!