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Sale 44 8,11 Jun 2023
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Persia ND (1890-1923) P-7s PMG Choice Extremely Fine 45 50 Tomans (Specimen)
A large size specimen of this iconic series. The 50 Tomans was printed with three prefixes and had a total issue for circulation of 39,500 notes. Of these, just 114 remained outstanding according to the final accounting of the first series, which was done in 1931. To these, an additional 122 notes were listed as "stolen", which in reality, should probably have been added to the number of outstanding notes. Michael E. Bonine, in his standard work on the subject, states that the number stolen is probably exaggerated, as the Imperial Bank of Persia was only responsible to pay the Iranian government for outstanding notes. Notes that were reported stolen were excluded from this. Regardless, as can be seen from this, an issued 50 Tomans is a rarity at a minimum. We are aware of one issued note selling in recent memory, back in 2017, when a well-circulated 50 Tomans dated 1918 brought almost $40,000 in the most advanced sale of these in recent memory (The Shamshir and Lion Collection of Persian banknotes, sold by Spink). Interestingly, while that amazing collection featured numerous specimens, it did not include a fully printed specimen of the 50 Tomans as offered here. Despite modest circulation (perhaps more accurately defined as mishandling), this specimen offers strong eye-appeal, with deep inks and originality clearly visible. As the rest of this set an opportunity not to be missed. PMG mentions "Printer's annotation; previously mounted".
PMG Population in 45: 1 (8 Finer)
A large size specimen of this iconic series. The 50 Tomans was printed with three prefixes and had a total issue for circulation of 39,500 notes. Of these, just 114 remained outstanding according to the final accounting of the first series, which was done in 1931. To these, an additional 122 notes were listed as "stolen", which in reality, should probably have been added to the number of outstanding notes. Michael E. Bonine, in his standard work on the subject, states that the number stolen is probably exaggerated, as the Imperial Bank of Persia was only responsible to pay the Iranian government for outstanding notes. Notes that were reported stolen were excluded from this. Regardless, as can be seen from this, an issued 50 Tomans is a rarity at a minimum. We are aware of one issued note selling in recent memory, back in 2017, when a well-circulated 50 Tomans dated 1918 brought almost $40,000 in the most advanced sale of these in recent memory (The Shamshir and Lion Collection of Persian banknotes, sold by Spink). Interestingly, while that amazing collection featured numerous specimens, it did not include a fully printed specimen of the 50 Tomans as offered here. Despite modest circulation (perhaps more accurately defined as mishandling), this specimen offers strong eye-appeal, with deep inks and originality clearly visible. As the rest of this set an opportunity not to be missed. PMG mentions "Printer's annotation; previously mounted".
PMG Population in 45: 1 (8 Finer)