Heritage World Coin Auctions
Long Beach Signature Currency Sale 3558 7-8 Sep 2017
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World Currency
Cyprus Government of Cyprus 3 Piastres 1.3.1943 Pick 27. In response to a chronic coin shortage, Cyprus authorities decided to overprint stocks of 1 Shilling notes, turning them into 3 Piastres notes. This led to wholesale fraud (the overprints were chemically removed because the 1 Shilling note was worth three times the overprinted value of 3 Piastres). The second approach used was to cut off and discard 60% of each overprinted note and overprint the remaining 40% with the 3 Piastres denomination and a new date. This example of this unorthodox second approach grades PMG About Uncirculated 55 EPQ. HID08701242017
Estimate: 800-1000 USD
Cyprus Government of Cyprus 3 Piastres 1.3.1943 Pick 27. In response to a chronic coin shortage, Cyprus authorities decided to overprint stocks of 1 Shilling notes, turning them into 3 Piastres notes. This led to wholesale fraud (the overprints were chemically removed because the 1 Shilling note was worth three times the overprinted value of 3 Piastres). The second approach used was to cut off and discard 60% of each overprinted note and overprint the remaining 40% with the 3 Piastres denomination and a new date. This example of this unorthodox second approach grades PMG About Uncirculated 55 EPQ. HID08701242017
Estimate: 800-1000 USD