World Banknote Auctions
Sale 38 2,5 Feb 2023
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Qatar & Dubai ND (ca. 1960s) P-5a PMG Very Fine 30 EPQ 50 Riyals
Original 50 Riyals with EPQ Status
A fantastic offering from the short-lived and popular Qatar & Dubai series, particularly scarce with EPQ status, as seen here. First issued in 1966, these notes circulated until 1973, when Qatar and the UAE introduced their own respective currencies. At that time, many of these were redeemed and presumably destroyed, and the higher denominations have become extremely scarce and in demand since that time. While the 25 Riyals is considered the key to the series, the 50 Riyals is a rare banknote as well. In 1997 Peter Symes published an article stating that just 2,406 notes of this denomination remained outstanding, and based on the number of appearances only a small number of that limited quantity remains in collector's hands.
The particular example offered in this lot is particularly noteworthy as it is completely original, and retains fantastic color. It is free from pinholes, writing or other problems, and no attempts have been made to "improve" this note by pressing it, which would have excluded it from being awarded the EPQ status by the grading service. In our World Currency Sale 26 we sold a PMG Choice Very Fine 35 for $20,700, and with the additional benefit of the EPQ status on this piece we expect this offering to rival that result. 
PMG Population in 30 EPQ: 1 (6 Finer)
Original 50 Riyals with EPQ Status
A fantastic offering from the short-lived and popular Qatar & Dubai series, particularly scarce with EPQ status, as seen here. First issued in 1966, these notes circulated until 1973, when Qatar and the UAE introduced their own respective currencies. At that time, many of these were redeemed and presumably destroyed, and the higher denominations have become extremely scarce and in demand since that time. While the 25 Riyals is considered the key to the series, the 50 Riyals is a rare banknote as well. In 1997 Peter Symes published an article stating that just 2,406 notes of this denomination remained outstanding, and based on the number of appearances only a small number of that limited quantity remains in collector's hands.
The particular example offered in this lot is particularly noteworthy as it is completely original, and retains fantastic color. It is free from pinholes, writing or other problems, and no attempts have been made to "improve" this note by pressing it, which would have excluded it from being awarded the EPQ status by the grading service. In our World Currency Sale 26 we sold a PMG Choice Very Fine 35 for $20,700, and with the additional benefit of the EPQ status on this piece we expect this offering to rival that result. 
PMG Population in 30 EPQ: 1 (6 Finer)