Heritage World Coin Auctions
FUN Signature Currency Sale 4008 10 & 14 Jan 2019
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South Africa Standard Bank of South Africa Ltd. 5 Pounds 18.6.1913 Pick S353 PMG Very Fine 20 Net, rust damage, internal splits. An especially elusive variety as an issued note. In order to manage the circulation of banknotes, the Cape of Good Hope government piloted a currency commission system, where notes would be authorized by the central government based on the amount of deposits made by every bank. These private banks could then issue notes with their own name using a standardized design. This system was short-lived as the South African Reserve Bank was established, and most notes were redeemed by the issuing banks. The green and red colors remain outstanding on this example. HID08701242017
Estimate: 1500-2000 USD
South Africa Standard Bank of South Africa Ltd. 5 Pounds 18.6.1913 Pick S353 PMG Very Fine 20 Net, rust damage, internal splits. An especially elusive variety as an issued note. In order to manage the circulation of banknotes, the Cape of Good Hope government piloted a currency commission system, where notes would be authorized by the central government based on the amount of deposits made by every bank. These private banks could then issue notes with their own name using a standardized design. This system was short-lived as the South African Reserve Bank was established, and most notes were redeemed by the issuing banks. The green and red colors remain outstanding on this example. HID08701242017
Estimate: 1500-2000 USD