Watch List notes:

STRAITS SETTLEMENTS. Board of Commissioners of Currency. 100 Dollars, 1901. P-4C. PCGS GSG Fine 12.
Every so often a note comes out of a collection that stops collectors in their tracks. This piece is one of those notes that are as elusive as it gets, and is the first issued example that we have seen, offered here in a PCGS GSG Fine 12 Holder. The Population Report at PMG shows no pieces certified, specimen, or issued. We have yet to handle either of the type prior to this lot.

We have found only one record of a Specimen that sold recently for over $50,000. However, that specimen was in worse condition, and had a printed date of 1909, and not the early 1901 date that is found on this ISSUED piece. The 1901 date is the earliest known date for the type.

This TDLR design belongs to the first series of notes from the Straits Settlements. The entire design is visible, including the Tiger that is shown on the reverse. Three printed signatures are found above the lower right serial number. The design is completely red with the exception of the green "HUNDRED" printed at lower center. Four languages dress the front of the note; English, Chinese, Malay, and Jawi.

The condition of the note can be considered typical for the grade. Some spots, and splits are visible which could be expected on a note this old, and of this size. Still, even with the circulation, the note maintains excellent eye appeal, and is certainly missing from even the most advanced, and heavily invested collections.

Dated February 1st, 1901. Serial Number A/1 54319.

PCGS GSG Fine 12.

Estimate: $100000.00- $125000.00