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Sale 29 4,7 Aug 2022
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Nicaragua 12.10.1894 P-20 PMG Very Fine 25 20 Centavos
Central American Rarity Offered at Public Auction for First Time Since 1981
This offering represents the first that time this issue, which dates back to 1894, has been offered at public auction anywhere in the world since 1981. A newly discovered example of just four examples known to exist, this is arguably the finest, and is superior to the Pick plate note, which was the piece that was sold in 1981 at a NASCA auction (Stockholm Collection lot #1799, sold December 10 & 11 1981. The catalog is available at the Newman Numismatic Portal). While it is possible that one of the pieces known to exist sold privately in the intervening time frame there is no doubt that this issue, which commemorated the 402nd anniversy of Columbus' landing in the Americas is a major rarity and one of the highlights of this sale.
This note is the lowest denomination of five issued in 1894 as a commemorative series, ranging from this 20 Centavos to the 10 Pesos. All are rare to extremely rare; the 1 Peso is the only one that shows up with some regularity, and even that can be considered a very scarce note. Any of the other denominations, including the 20 Centavos, are extremely rare and unpriced in Pick. The notes complemented the regular notes of this issue, which continued to be issued during the same time frame. Little attention was given to the series, and it appears that they circulated extensively and were then withdrawn. With paper money collecting being in its infancy at the time very few of these were put aside (if any, as survival seems to be more by happenstance than anything else), and this series has eluded some of even the most advanced collectors of the country and the region.
The 402nd anniversary seems like an odd choice, and the exact reasons why this issue was printed remain unclear. It is likely that a series was planned for the 400th anniversary but that due to a number of circumstances this was delayed for two years. It was locally printed in Nicaragua on low quality paper, which further contributed to the scarcity of this note. That NASCA catalog indicates that 97,750 were issued, although it is unclear where that information came from. Not surprisingly, this is the only example in the PMG population report.
For the circumstances of this issue and the low quality of the paper this remains a fresh and original example of this rarity. It is entirely problem-free, with no negative notations from the grading company. It is free of writing or pinholes, and all design elements remain clearly visible. With no examples of this denomination selling in over 40 years, it is difficult to come up with an estimate, and we have decided to keep it on the lower end and let the bidders decide. No doubt, this will be a hotly contested note and an offering that can truly be considered an "once in a lifetime" opportunity.
PMG Population in 25: 1 (0 Finer)
Central American Rarity Offered at Public Auction for First Time Since 1981
This offering represents the first that time this issue, which dates back to 1894, has been offered at public auction anywhere in the world since 1981. A newly discovered example of just four examples known to exist, this is arguably the finest, and is superior to the Pick plate note, which was the piece that was sold in 1981 at a NASCA auction (Stockholm Collection lot #1799, sold December 10 & 11 1981. The catalog is available at the Newman Numismatic Portal). While it is possible that one of the pieces known to exist sold privately in the intervening time frame there is no doubt that this issue, which commemorated the 402nd anniversy of Columbus' landing in the Americas is a major rarity and one of the highlights of this sale.
This note is the lowest denomination of five issued in 1894 as a commemorative series, ranging from this 20 Centavos to the 10 Pesos. All are rare to extremely rare; the 1 Peso is the only one that shows up with some regularity, and even that can be considered a very scarce note. Any of the other denominations, including the 20 Centavos, are extremely rare and unpriced in Pick. The notes complemented the regular notes of this issue, which continued to be issued during the same time frame. Little attention was given to the series, and it appears that they circulated extensively and were then withdrawn. With paper money collecting being in its infancy at the time very few of these were put aside (if any, as survival seems to be more by happenstance than anything else), and this series has eluded some of even the most advanced collectors of the country and the region.
The 402nd anniversary seems like an odd choice, and the exact reasons why this issue was printed remain unclear. It is likely that a series was planned for the 400th anniversary but that due to a number of circumstances this was delayed for two years. It was locally printed in Nicaragua on low quality paper, which further contributed to the scarcity of this note. That NASCA catalog indicates that 97,750 were issued, although it is unclear where that information came from. Not surprisingly, this is the only example in the PMG population report.
For the circumstances of this issue and the low quality of the paper this remains a fresh and original example of this rarity. It is entirely problem-free, with no negative notations from the grading company. It is free of writing or pinholes, and all design elements remain clearly visible. With no examples of this denomination selling in over 40 years, it is difficult to come up with an estimate, and we have decided to keep it on the lower end and let the bidders decide. No doubt, this will be a hotly contested note and an offering that can truly be considered an "once in a lifetime" opportunity.
PMG Population in 25: 1 (0 Finer)