ETHIOPIA. Bank of Abyssinia. 500 Thalers, 1.6.1929. P-5cts. Color Trial Specimen. PMG Choice About Uncirculated 58.
The Bank of Abyssinia in Ethiopia was established in 1905 as a private Egyptian company with headquarters in both Addis Ababa and Cairo. The bank would struggle financially for the next decade, even when its lending rates were a fraction of the predatory lending rates common in the country. Around the same time that the bank became profitable an issue of 280,000 Thalers was authorized for circulation in Ethiopia. Notes were printed by Bradbury, Wilkinson & Co. in England and would continue to be issued for the next fifteen years. Unfortunately, the notes proved unpopular with the local population, and, according to a contemporary report of Evelyn Waugh from 1930 (printed in the Dennis Gill reference on the coinage of Ethiopia) the notes were only accepted in the capital or on the railway and were essentially only used by Europeans. When the bank of Ethiopia was established (a domestic bank to replace the Bank of Abyssinia) the same designs continued to be printed, with the same bank name. Domestic use remained problematic although over time the notes saw more use in commerce, especially in larger transactions. Notes from Abyssinia in any form are extremely rare. This color trial specimen will make a welcome addition to an advanced collection of African paper money. The printing is fresh and the eye-appeal is excellent. A single punch hole cancellation is seen, along with a red BWC specimen seal. These notes were issued in incredibly small numbers and as a result are essentially uncollectible in issued form; this color trial specimen would make a nice alternative, although it would be a stretch to call it common. A wonderful note worthy of inclusion in the finest African paper money collection.

Estimate: $8000.00 - $12000.00