STACK'S BOWERS: NYINC CURRENCY AUCTION SECTION B

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V29 2026 INDEX E-SYLUM ARCHIVE

The E-Sylum: Volume 29, Number 1, 2026, Article 14

Stack's Bowers will be hosting their NYINC Auction on January 16, 17, 20 & 21, 2026, featuring world paper money from Afghanistan to Zambia. Select items are discussed below. -Garrett

BELGIAN CONGO. Banque du Congo Belge. 1000 Francs, 3.11.1920. P-12b. PMG About Uncirculated 53. Kinshasa branch. Perhaps one of the most attractive designs of the Belgian Congo, and a notably difficult type in any grade. In our Spring 2023 Maastricht auction we sold the note consecutive to this piece, graded Choice About Uncirculated 58 by PMG for $36,000. While it is unlikely that this piece will reach the same level, as it has received a minor repair in the top margin (not impacting the printed area) it is still a very nice example of a challenging type. Issued at a number of different branches, the Kinshasa issue offered in the present lot is about the only variety of this type that ever becomes available for sale, thanks to the discovery of a very small group of notes many years ago. Most of those have long been dispersed into advanced collections, and offerings of any example of Pick-12 in any grade are very infrequent at best. A noteworthy offering for the specialist or the collector of trophy notes. PMG comments "Minor Repair."

EGYPT. National Bank of Egypt. 50 Pounds, ND (1949-51). P-26cts. Color Trial Specimen. PMG Superb Gem Uncirculated 67 EPQ. Tied for finest in the PMG population report along with just one other example (which we sold in January 2025 for $11,400). A color trial specimen that can instantly be recognized as something special, not just because of its condition, but also because the colors are very different from the shades of green used on issued notes. This example, with its near-perfect centering, problem-free paper, and strong originality features a sharp proof-like impression that makes the design stand out in the best way. A single punch-hole cancellation, as typically seen, is noted but it does little to detract from the overall appearance of this piece. An exceptional offering and one that should be strongly considered by the Egyptian specialist.

EGYPT. Cassa Mediterranea di Credito per l'Egitto. 50 Lire, ND (1942). P-M7s. SB407s. Specimen. PMG Choice Uncirculated 63. Third and final specimen of this historically important series offered in the present sale. Prepared for the planned invasion of Egypt by the Italians, which never materialized, and these notes were never issued. This is one of just two specimens of this denomination in the PMG population report, and this is the finest. Along with the previous two lots an incredible opportunity from the Al Kugel Collection. It should be telling that he was only able to acquire a few specimens of the set while assembling a world-class collection of paper money related to World War II. Nice paper quality is seen on this example with some staple holes, but the rarity more than makes up for the faults of the note (which are minor to begin with). PMG comments "Staple Holes."

Impressive and Iconic Fiji 1954 20 Pounds Key Type for Fiji FIJI. Government of Fiji. 20 Pounds, 1.7.1954. P-57a. PMG Very Fine 30. Prior to the introduction of the Fiji Dollar in the late 1960s the 20 Pound denomination was the highest value in circulation in Fiji. It had been printed for all the series issued by the government, but as it represented considerable buying power, print quantities were small and most of the local population would have never seen one in circulation. Today, they are great rarities, and we are honored to offer one of just three PMG graded examples of the rare 1954 20 Pounds printed in red from the Jerry & Diane Fishman Collection.

The initial issue of the 20 Pound was printed in dark purple, but it soon changed to this red. The reason for this can most likely be found in the fact that the 5 Pounds was a somewhat similar color to the 20 Pounds, prompting the change. 25,000 notes with this 1954 date are believed to have been printed, followed by another printing of 25,000 notes in 1958, but it is unclear if those ever entered circulation. These two printings of a limited number of notes were sufficient to meet demand of this high denomination until the notes were withdrawn at the same time that the Fiji Dollar was introduced. As is so often the case, we suspect most people who held one of these would have redeemed them, further contributing to their rarity.

This attractive note is a wholesome, problem-free example of this world-class rarity. The color is fresh, the paper bright, and there are no problems worth mentioning by either the grading service or us. This represents an exceptional opportunity for the specialist collector to acquire this challenging type that seldom becomes available for sale. Bid accordingly, as we do not know when the next opportunity presents itself to acquire this celebrated and key Queen Elizabeth II note.

To read the complete item description, see:
Impressive and Iconic Fiji 1954 20 Pounds (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=d0578c3647&e=2060ac6706)

HONG KONG (SAR). Hong Kong & Shanghai Banking Corporation. 500 Dollars, 1.7.1930. P-177bs. KNB67S. Specimen. PMG Choice About Uncirculated 58. Lightly handled but still very attractive specimen of this incredibly popular and important type from the Hong Kong & Shanghai Banking Corporation. As collectors will know, this is the highest denomination for the 1927-59 series, and as such it is very popular in any format. Issued notes are rare and not often seen, and specimens such as this are very scarce as well. Of considerable interest to the specimen and/or Hong Kong collector, or for the collector of attractive trophy notes. PMG Comments "Printer's Annotations."

ISRAEL. Anglo-Palestine Bank Limited. 50 Pounds, ND (1948-51). P-18a. PMG Very Fine 20. The undisputed key note for the country of Israel and a rare type seldom offered for sale in any grade or format. The Anglo-Palestine Bank Limited took the responsibility of bank note issuance for the newly formed State of Israel as no central bank had been established for the country yet. At the same time that this series, printed by the American Bank Note Company in the United States was being prepared a locally printed series was also printed, but the new notes arrived from America quickly enough that the emergency issue was not necessary. As a result, however, the design of the Anglo-Palestine notes was a rather simplistic affair, utilizing existing ABNC patterns.

The notes entered circulation in August of 1948. The series consisted of five denominations denominated in Mills and Palestine Pounds. The notes found eager use in Israel and were put into circulation for several years, until the establishment of the Bank Leumi le-Israel B.M, which introduced a similar series of notes also produced by the American Bank Note Company. The notes from the Anglo-Palestine Bank were withdrawn as they wore out over the next few years. This was the highest denomination of the series and represented considerable buying power at the time of issue. Moderate circulation is seen on the present piece, with annotations on the back which are light and not too distracting. An exceptional opportunity for the specialist and certainly one of the highlights of the present auction. PMG Comments "Annotations."

Legendary 1927 5 Pounds in VF - EPQ PALESTINE. Palestine Currency Board. 5 Pounds, 1.9.1927. P-8a. PMG Very Fine 30 EPQ. Prefix A. The 1927 series of the Palestine Currency Board is one of the most important of all world banknotes. Not to be confused with the later dates of the same designs, the 1927-dated notes are seldom encountered in any grade, regardless of denomination. After World War I, the colonial powers in Europe assumed control of the Ottoman and German colonies following their defeat in the Great War. Great Britain colonized Palestine, Trans-Jordan, and Iraq in the region. The Palestine Currency Board was established in London in 1926, and notes were issued into circulation the following year. Most that were issued remained in circulation for quite some time, and were redeemed and destroyed when they wore out, further explaining their rarity. Surviving examples are often found with heavy wear and repairs, as few were preserved for collecting purposes at the time. Those that do remain in are among the most desirable and historically significant Middle Eastern banknotes of the 20th century.

This is by far the nicest example of the iconic 1927 5 Pounds we have ever offered. Our last offering of this date was in our Fall 2025 Maastricht Showcase Auction where we sold a PMG 15 for $40,800. That note, while still desirable, had some edge damage and annotations, often seen on notes from this series. By contrast, the present example is several steps above that last offering. While it did spent some time in shows and shows several folds (as can be expected for a note at the VF level) it is entirely original. Clear originality can be seen, and the paper is fresh and crisp. While there are a few pieces that perhaps grade finer, we would be surprised if many can match the originality of the present piece. An exceptional offering for the Middle Eastern specialist and a trophy note worth strong consideration of even the most advanced collectors.

To read the complete item description, see:
Legendary 1927 5 Pounds in VF - EPQ (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=b097025313&e=2060ac6706)

POLAND. Bank Polski. 10 Zlotych, 2.1.1928. P-67. CM#66. PMG Choice About Uncirculated 58. The 1928 issue of Poland, which consisted of two denominations, is widely considered to be among the most attractive series of notes issued for the country. This example faces up like a Gem at first glance, and has particularly strong eye appeal for the technical grade. This is the first time that we have offered this attractive type, which appears at auction anywhere very infrequently, and always sees spirited bidding from advanced collectors. We expect the same for this noteworthy offering, not to be missed.

Provenance: From the Collection of Kazmier Wysocki, former mayor of Hackensack, New Jersey.

TUNISIA. Banque de l'Algerie et de la Tunisie. 100 Francs, 9.2.1948. P-24. PMG Superb Gem Uncirculated 67 EPQ. In the late 1940s and early 1950s, the Banque de l'Algérie et de la Tunisie issued a series of notes with designs inspired by antiquity. The notes, which were designed and printed in France, are collector favorites. This 100 Francs, issued with dates ranging from 1946 to 1948, features the head of the Greek god Hermes on the front and a Roman Mosaic on the back. Sometimes seen in circulated grades, uncirculated examples are rare, and they are virtually unheard of in Gem. This is the sole finest in the PMG population report. A condition rarity that should see spirited bidding activity and will be a highlight in whatever collection it next enters.

UKRAINE. Emissionniy Bank. 1 Chervonets, 1941. P-45a. SB1254. PMG Choice Very Fine 35. The 'issued' 1 Chervontsiv is among the most difficult types from the Emission Bank of Ukraine series and may be appearing at public auction for the first time. Schwan-Boling lists the 1 Ruble from the previous lot and the 5 Chervonets, with two serial numbers for each, but not this denomination. Printed with full serial numbers for intended use, it forms part of the higher values of the planned occupation currency, where 1 Chervontsiv equaled 10 Rubles. Like the other denominations of this unissued series, the note was produced in Germany during the occupation of Ukraine, which ultimately lasted from 1941 to 1944. The plan to circulate these notes was abandoned when German authorities withdrew support for Russian-language money, and the project was replaced by the German-language issues of the Zentralnotenbank Ukraine. Only a tiny number of issued examples are known for the entire series, and this first appearance of a 1 Chervontsiv in this format marks an important moment for specialists focused on Eastern Europe and World War II monetary history.