World Banknote Auctions
Sale 29 4,7 Aug 2022
View prices realized
► Sale information
Find similar lots
Saudi Arabia ND (1954) / AH1373 P-3 PMG Gem UNC 65 EPQ 5 Riyals
The first notes issued by the Saudi Arabian Monetary Agency were so called "Haj Pilgrim Receipts" meant to be issued by pilgrims making the journey to Mecca each year. They were initially backed by silver Rupees but were not to be used by the general population, who were expected to continue to use Indian Rupees that were in circulation throughout the region. Soon, however, this distinction was blurred and the notes circulated more widely. As a result, any Haj Pilgrim Receipts from Saudi Arabia are very scarce to rare in uncirculated grades. This is a pleasing Gem Uncirculated example of the 1954 5 Riyals, fully original with good eye-appeal for the assigned grade. It would make for an excellent addition to a high end Saudi Arabian type set and one that is not to be missed, as a survey of publicly available auction records show that it is seldom offered for sale at this grade level.
PMG Population in 65 EPQ: 6 (4 Finer)
The first notes issued by the Saudi Arabian Monetary Agency were so called "Haj Pilgrim Receipts" meant to be issued by pilgrims making the journey to Mecca each year. They were initially backed by silver Rupees but were not to be used by the general population, who were expected to continue to use Indian Rupees that were in circulation throughout the region. Soon, however, this distinction was blurred and the notes circulated more widely. As a result, any Haj Pilgrim Receipts from Saudi Arabia are very scarce to rare in uncirculated grades. This is a pleasing Gem Uncirculated example of the 1954 5 Riyals, fully original with good eye-appeal for the assigned grade. It would make for an excellent addition to a high end Saudi Arabian type set and one that is not to be missed, as a survey of publicly available auction records show that it is seldom offered for sale at this grade level.
PMG Population in 65 EPQ: 6 (4 Finer)