Spink USA
Auction 382 15 Jan 2023
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Palestine, British Mandate, An Exceptional 'VIP Presention' Currency Board 'Double Proof' Set, 1927, London (13), 100-Mils - One Mil (KM PS1 = KM 1-7; cf. Heritage NYINC Signature 3071, lot 34239), unfortunately wanting a second 2-Mils, otherwise an exquisite Proof of Record, all Silver pieces with a subtle periperal tone, the copper and cupro-nickel with greenish tinges or brown patination, otherwise all brilliant and much as struck, extremely rare in this format, only 68 proofs reportedly struck in entirety, with Original 'PALESTINE CURRENCY BOARD, 1927 dated and fitted case of issue (13).
Provenance
Kagan-Maremba Collection, Sotheby's (New York), 19 December 2012, lot 572 [part of a collection sold in one lot for $572,500]
This exquisite VIP Presentation Double Proof Set, resplendent with its original fitted and dated case of issue belies its true significance in the Palestinian numismatic records. In recent years the odd appearance of single proof set of seven coins have occurred in London (DNW 131, 10 June 2015, lot 306 - £9,600) at which time it was reported only 'four sets were struck'. This is an evidently conservative estimation given the appearance of a comparable Double-Proof set at the 2019 NYINC Showcase (Heritage, Signature 3071, 6 January 2019, lot 34329 - $21,600). At that occasion the 68 proofs figure was reported. However it is the pedigree of this set that provides the best account of this extremely elusive and important 20th Century numismatic presentation rarity. Formed by philanthropist Arnold H Kagan, the entire collection dubbed 'the most important collection of the numismatic history of modern Israel ever assembled' was sold as a single lot by Sotheby's in December 2012 for a record breaking $572,500. There it outlined how 34 double proof sets had been produced made, of which perhaps only fifteen now survive, the set offered then is the present offering, which it must be noted in the intervening decade has lamentably lost one of the Two Mils proof coins. William Rosenblum would offer a similar Double Proof Set in its original presentation box on 4 December 2014 (lot 254) that sold for an impressive $35,000 with an estimate of a dozen such survivors. In any case the opportunity for the connoisseur is clear, the bragging rights with such a pedigree are sure to be legendary!
Estimate: $5000 - $8000
Provenance
Kagan-Maremba Collection, Sotheby's (New York), 19 December 2012, lot 572 [part of a collection sold in one lot for $572,500]
This exquisite VIP Presentation Double Proof Set, resplendent with its original fitted and dated case of issue belies its true significance in the Palestinian numismatic records. In recent years the odd appearance of single proof set of seven coins have occurred in London (DNW 131, 10 June 2015, lot 306 - £9,600) at which time it was reported only 'four sets were struck'. This is an evidently conservative estimation given the appearance of a comparable Double-Proof set at the 2019 NYINC Showcase (Heritage, Signature 3071, 6 January 2019, lot 34329 - $21,600). At that occasion the 68 proofs figure was reported. However it is the pedigree of this set that provides the best account of this extremely elusive and important 20th Century numismatic presentation rarity. Formed by philanthropist Arnold H Kagan, the entire collection dubbed 'the most important collection of the numismatic history of modern Israel ever assembled' was sold as a single lot by Sotheby's in December 2012 for a record breaking $572,500. There it outlined how 34 double proof sets had been produced made, of which perhaps only fifteen now survive, the set offered then is the present offering, which it must be noted in the intervening decade has lamentably lost one of the Two Mils proof coins. William Rosenblum would offer a similar Double Proof Set in its original presentation box on 4 December 2014 (lot 254) that sold for an impressive $35,000 with an estimate of a dozen such survivors. In any case the opportunity for the connoisseur is clear, the bragging rights with such a pedigree are sure to be legendary!
Estimate: $5000 - $8000