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Aljmaan Collection 2 Mar 2023
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Egypt 1.1.1899 P-1b PMG Very Fine 25 50 Piastres
Incredible Egyptian Rarity
It is not often that we are able to offer not just one but two of the great rarities from Egypt. These two notes (this and the next lot) represent the only collectible notes from the first series of the National Bank in Egypt in issued form. While higher denominations were issued, they are only known to exist in specimen format, and the 50 Piastres and 1 Pound are the only two denominations from the 1899 series a collector can reasonably hope to acquire. Both are great rarities and seldom offered for sale in any grade.
This is the initial denomination with the second signature, that of Sir Frederick Rowlatt. The National Bank of Egypt was established in 1898 with a capital of 1 Million Pounds Sterling. At the time, the Khedivate of Egypt remained part of the Ottoman Empire but was occupied by the British as a de-facto protectorate, although it was never part of the British Empire. Britain had occupied Egypt in 1882 in order to restore political stability in the region and would remain in Egypt until the Suez crisis in 1956.
The 1899 series, issued under decree of 25th June 1898 which had established the National Bank of Egypt, was printed by the British firm of Bradbury, Wilkinson & Co., with the imprint of that firm found on the back of the note. The 50 Piastres exists with two signature varieties, both with the A/1 prefix, with the first having the Palmer signature and the second the Rowlatt signature. Rowlatt became the Bank's governor of the bank in 1906, so this note must have been issued after 1906. In total, just 400,000 notes of this design were issued, and survivors are extremely rare.
Like virtually all known examples of this issue this example spent considerable time in circulation. Despite this, it retains good eye-appeal for the technical grade. The staining mentioned by PMG is extremely light and in all honesty was probably not worth being mentioned. The bottom margin has seen some trimming, but none of the actual design elements were touched and the trim must have been very limited, as the bottom margin tends to be narrow on most known examples. More importantly, it is free of writing or repairs that often plague this issue. Overall, a very respectable example of this rarity destined for an advanced Egyptian collection. PMG mentions "Trimmed; stains".
Incredible Egyptian Rarity
It is not often that we are able to offer not just one but two of the great rarities from Egypt. These two notes (this and the next lot) represent the only collectible notes from the first series of the National Bank in Egypt in issued form. While higher denominations were issued, they are only known to exist in specimen format, and the 50 Piastres and 1 Pound are the only two denominations from the 1899 series a collector can reasonably hope to acquire. Both are great rarities and seldom offered for sale in any grade.
This is the initial denomination with the second signature, that of Sir Frederick Rowlatt. The National Bank of Egypt was established in 1898 with a capital of 1 Million Pounds Sterling. At the time, the Khedivate of Egypt remained part of the Ottoman Empire but was occupied by the British as a de-facto protectorate, although it was never part of the British Empire. Britain had occupied Egypt in 1882 in order to restore political stability in the region and would remain in Egypt until the Suez crisis in 1956.
The 1899 series, issued under decree of 25th June 1898 which had established the National Bank of Egypt, was printed by the British firm of Bradbury, Wilkinson & Co., with the imprint of that firm found on the back of the note. The 50 Piastres exists with two signature varieties, both with the A/1 prefix, with the first having the Palmer signature and the second the Rowlatt signature. Rowlatt became the Bank's governor of the bank in 1906, so this note must have been issued after 1906. In total, just 400,000 notes of this design were issued, and survivors are extremely rare.
Like virtually all known examples of this issue this example spent considerable time in circulation. Despite this, it retains good eye-appeal for the technical grade. The staining mentioned by PMG is extremely light and in all honesty was probably not worth being mentioned. The bottom margin has seen some trimming, but none of the actual design elements were touched and the trim must have been very limited, as the bottom margin tends to be narrow on most known examples. More importantly, it is free of writing or repairs that often plague this issue. Overall, a very respectable example of this rarity destined for an advanced Egyptian collection. PMG mentions "Trimmed; stains".