LITHUANIA. Lietuvos Ukio Bankas. 50 Ost. Markiu, ND (1919-20). P-A1. PMG Very Fine 30 Net. Repaired.
This and the following two lots represent an extremely rare opportunity to acquire three of the four known denominations of the very first paper money issued by Lithuania after the country achieved its independence after World War I. At the time, the currency in circulation was primarily the so-called "Ost Marks", which were introduced during German occupation. Russian-backed "Ost Rubels" also circulated, as well as Reichsmarks from Germany proper. Shortly after the war, when the German and Russian troops had left the country, Lithuania had been ravaged and was trying to set itself up as an independent nation under extremely difficult circumstances. Chronic lack of money supply was one of the problems, and to alleviate the problem, the Ost Mark remained in circulation, which continued to come to Lithuania as a loan from Germany. It allowed Germany to continue to assert control over the nation, although Lithuania tried to deflect foreign interference by renaming its currency the "Auksinas" (although no notes with that name were ever issued). During this time period, which would last until the Litas was introduced in October of 1922, these circulating checks were also issued, although the exact circumstances of their creation is unknown. It entitled the bearer to funds from the Bank of Lithuania, although it is unclear when, and under what requirements. We have only seen a handful of other examples and the Pick catalog lists all four denominations simply as "rare". Both the Platbarzdis and Karys catalogs do not mention this issue, further solidifying its rarity. An impressive offering and not to be missed. PMG Comments "Repaired."
From the Al Kugel Collection.

Estimate: $2500.00 - $3500.00