Heritage Auctions

Auction 4029  –  30 April 2021

Heritage Auctions, Auction 4029

World Paper Money

Fr, 30.04.2021, from 6:00 PM CEST
The auction is closed.

Description

Australia Commonwealth of Australia 50 Pounds ND (1918) Pick 8d R67c PMG Very Fine 30. An extremely desirable type, seldom seen in any grade, examples are eminently collectible due to the unusually high face value. Four varieties for this denomination were issued between 1914 and 1940, with this being the last. Notice the large, sans serif serial numbers, which were indicative of the final wave of issue for this type. Because stocks of this high denomination were not in demand, issuance was very slow, which allowed this denomination, along with the 20 and 100 Pounds, to be released well past their normal lifespan, and certainly well beyond that of their lower denomination counterparts. In fact, bank records indicate that only 608,000 of these notes were printed and released until the end of World War II. The enormous face value at the time, coupled with economic conditions, forced their redemption, leaving only a scant few to be enjoyed by collectors today. Highly collectable, this piece shows signs of limited circulation in a well preserved state. Minor repairs are mentioned in the comments on the back of the third party holder. At the time of cataloging, only a total of four examples are registered in the PMG Population Report.

HID09801242017

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Price realized 17'000 USD
Starting price 5'000 USD
Estimate 8'000 USD
The auction is closed.
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