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STACK'S BOWERS: FALL 2026 MAASTRICHT SALEStack's Bowers will be hosting their Fall 2026 Maastricht Showcase Auction of World Paper Money on October 1. Select items are discussed below. -Garrett 
Sole Finest Graded ANDORRA. Consell General de les Valls d'Andorra. 10 Pessetes, 19.12.1936. P-4. PMG Choice Uncirculated 63. The key denomination of this series. This is the only uncirculated example found in the PMG population report, with the next finest a sole AU50 graded note. Reported printing of only 1,000 notes. The notes from Andorra, issued during the Spanish Civil War, are short-lived, and popular as a result. Only two series were issued, with the same design, the first in blue and the second (in brown) issued a year later.
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Sole Finest Specimen of Classic Issue EAST AFRICA. East African Currency Board. 100 Shillings, 1.1.1933. P-23s. Specimen. PMG Gem Uncirculated 66 EPQ. An incredibly important opportunity for the specialist and a note of the greatest importance to the British colonial or African specialist. Not only is this the sole finest specimen of this type in the PMG population report, but the near absence of issued notes in the marketplace (just two well-circulated examples have been graded by PMG to date) means that this type is lacking from most advanced collections. While lower denominations of the East African Currency Board are sometimes encountered, and higher denominations are rarities, the 100 Shillings is one of those notes that might get overlooked. Nevertheless, it is a major rarity, and specialists will know that the present offering should be strongly considered not just for its condition, but also for its rarity and attractiveness. Certainly one of the highlights in the present sale, not to be missed
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Exceptional 'Fallah' 1 Pound in AU EGYPT. National Bank of Egypt. 1 Pound, 3.7.1926. P-20. Hanafy#M4a. PMG About Uncirculated 55. A popular and important type from Egypt that, while often seen in circulated grades, is a major rarity at the About Uncirculated level. While three notes grade finer in the PMG population report as of the time of cataloging, we have been unable to find many auction results of this type in grades above Very Fine. In addition, the note offered in the present lot is entirely problem-free, with very limited signs of circulation, good color, and excellent paper quality. For the advanced specialist in Egyptian paper money attempting to build one of the finest collections, this is certainly a lot to strongly consider.
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Sole Finest Graded Example GERMANY. Reichsbank. 20 Billionen Mark, 5.2.1924. P-138. PMG Superb Gem Uncirculated 67 EPQ. Sole finest graded example of one of the key varieties issued during hyperinflation in Germany in the early 1920s. A type most often encountered in heavily circulated condition; uncirculated survivors are very rare, with just a handful of UNCs graded by PMG, with this sitting proudly at the top of the population report. For advanced German specialists, this represents an important opportunity not to be missed. As can be expected at this grade level, it comes with near-perfect centering, strong embossing, and total originality.
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GREAT BRITAIN. Bank of England. 5 Pounds, 17.1.1955. P-345. B275-276. Serial Number 1. PMG About Uncirculated 55 EPQ. The crown jewel of this trio of notes, with the very first serial number for this signature, and no doubt one of the true highlights of the present sale. This 5 Pound is of particular importance, not only because it includes the letter that originally came with the notes signed by L.K. O'Brien himself (dated 1962, the year he retired as Governor of the Bank of England), but also because this was the last iteration of the white (uniface) 5 Pound note. These so-called 'White Fivers' trace their origin back to the earliest days of the Bank of England, and while small design updates took place over the years, the design essentially remained the same, eventually influencing other notes across the British Commonwealth in their design (such as the Ghana 1000 Pounds). While we could write another page or two on these three notes, we will keep this short, but strongly urge you to consider this offering, as it is one of those notes where you don't want to wake up the next day wishing you had bid just one more increment.
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Attractive and Unique QEII 5 Pound Printer's Models GREAT BRITAIN. Lot of (2). Bank of England. 5 Pounds, ND (ca. 1960s). P-Unlisted. Front & Back Printer's Models. PMG Choice Uncirculated 64 EPQ to Gem Uncirculated 66 EPQ. Of the greatest historical importance, these printer's models represent 'what could have been.' Produced for the Bank of England by an unknown printer, these date to the early 1960s, or possibly a little earlier. The signature of L.K. O'Brien dates it to 1955 to 1962, as that is when he was in office as Governor of the Bank of England. It is possible this was prepared at the same time as the helmeted Britannia design was introduced into circulation. The portrait of Queen Elizabeth II seen here was never used on British paper money, but was seen on the Jamaica 5 Pounds issued during the same era. While there are design similarities with the issued notes, this is clearly a very preliminary design, and in all likelihood, the present printer's models are all that survive. Of the greatest historical importance and the first public offering since this pair first appeared at public auction in 2019.
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Popular Persian Gulf 100 Rupees in XF INDIA. Reserve Bank of India. 100 Rupees, ND (1959-70). P-R4. Jhun&Rez 6.12.4.1. Persian Gulf Note. PMG Choice Extremely Fine 45. An exceptionally scarce and popular Persian Gulf 100 Rupees. India issued this series of notes strictly for use in Persian Gulf countries to regulate the amount of Reserve Bank currency leaving the country. This note is in slightly lower grade than the piece we recently sold as part of the Golden Falcon collection. However, don't let the opportunity to acquire two notes of this type in a short time span deceive you; our last offering prior to this year was four years ago. PMG Comments "Staple Holes at Issue."
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Eye-Catching Presentation Album from Libya LIBYA. Lot of (14) in Presentation Album. Kingdom of Libya. 5 Piastres to 10 Pounds, 1.1.1952. P-12 to P-18. Specimens. Uncirculated. Complete set of the King Idris issue of the Kingdom of Libya in a presentation album. Rare in this format, two copies of each note are mounted in this album, ensuring that both sides are visible. We believe the notes to be fully printed on both sides, but the caveat is that with its current mounting, this is impossible to confirm with absolute certainty. Specimens from this series are sometimes encountered, but complete presentation albums, such as this, are very rare. Exceptional opportunity for the Middle Eastern specialist.
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Trophy 1850s 300 Gulden Remainder NETHERLANDS INDIES. Javasche Bank. 300 Gulden, ND (1853-58). P-30r. Remainder. PMG Uncirculated 62 Net. Previously Mounted, Internal Damage. In the 1850s, paper money in the Netherlands Indies (modern-day Indonesia) remained relatively simple, mirroring designs used in the Netherlands. These notes are incredibly rare and rarely encountered in any format. This series, which PMG dates 1853-58 but Plomp dates 1851-64, included denominations ranging from 10 Gulden to 1000 Gulden. The higher denominations, such as this, were printed in red. On all denominations, the back is blank. This remainder of the 300 Gulden is extremely rare, and besides the piece pictured in Plomp, the only example we are aware of. It shows mounting remnants, which have caused some internal damage, although most of the printed areas remain clear. We must note that all remainders we have seen of this series (we know of at least a 1000 Gulden, and Plomp pictures a 25 and 50 Gulden) show similar mounting remnants and damage. A cornerstone offering and a celebrated offering, not to be missed. PMG Comments "Previously Mounted, Internal Damage."
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The Only Circulated 25 Riyals Awarded 'EPQ' Status QATAR & DUBAI. Qatar & Dubai Currency Board. 25 Riyals, ND (1966). P-4a. PMG Very Fine 30 EPQ. An exceptional rarity from Qatar & Dubai and particularly noteworthy as it is the only circulated example of this type that has been awarded 'EPQ' status for its original paper quality by PMG. The 25 Riyals for Qatar and Dubai is a rarity known throughout the collecting world, as it is a key note in an extremely popular series. After the collapse of the Ottoman Empire, Great Britain set up a variety of Protectorates through the Persian Gulf. These political alliances lasted for decades and ceased in 1971 with the independence of the Emirates that would form the United Arab Emirates, which issued its first banknotes in 1973. However, the first banknotes issued for part of the future UAE were issued in Dubai in 1966, when it entered into a currency alliance with Qatar (banknotes in circulation at the time included Indian Rupees and Gulf Rupees, which were also printed in India and of the same basic design, with different colors). The currency union between Qatar & Dubai proved a success, and its banknotes circulated extensively in the two regions. The series, which consisted of six denominations, were printed by the British firm of Bradbury & Wilkinson. All denominations had the same design, but the colors are different and the sizes increase with each denomination. The front of the notes is entirely in Arabic, including the serial numbers, while the back is in English, identifying the notes as being issued by the Qatar & Dubai Currency Board. The 25 Riyals by far had the lowest issuance of the entire series. While the exact number of pieces issued is unknown, an article by Peter Symes published online indicates that just 1,565 were outstanding in October 1997. Most of these appear to have been lost or destroyed, as this denomination is very rarely offered for sale and the number of pieces certified by the grading services is small. An exceptional opportunity for the Middle Eastern specialist.
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