World Banknote Auctions
Sale 44 8,11 Jun 2023
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Persia ND (1890-1923) P-9s PCGS Gem UNC 66 PPQ 500 Tomans (Specimen)
Iconic and High Grade 500 Tomans Specimen
An exceptional offering that concludes the fantastic specimen set of the first series of the Imperial Bank of Persia on offer today. An iconic world banknote, extremely desirable and in demand from many collectors worldwide. While this series also includes a 1000 Tomans, it must be noted that a single issued example of that denomination is in existence, while no issued notes of the 500 Tomans denomination are known to exist (and contemporary records indicate that just a single piece remained outstanding as of December 20, 1931, with a mere 1400 notes printed over a 33 year period), making specimens such as this the only way an advanced collector can hope to add this iconic denomination to their collection.
The Imperial Bank of Persia, established in 1889, holds a significant place in the financial history of Iran. It was organized in Great Britain by Baron Julius de Reuter, who received a royal charter for his new venture that year. Under the rule of Naser al-Din Shah, the country now known as Iran faced a pressing need for modern financial institutions to support its economic development. The issuance of banknotes such as this, along with loans and increased imports and exports, greatly contributed to the economic growth of the country.
Thanks to its impressive size, original and classic design, and rarity these notes are often counted among the favorites of many world banknote collectors. Unfortunately, the higher denominations are extremely rare, and seldom come up for sale, making the availability an infrequent occurrence at best. Publicly available auction records show just a single 66 graded example selling at public auction since 2010, in late 2022, when a PMG 66 EPQ brought $55,000 in an American auction that included another example (graded AU 58 by PMG). No other examples at this grade level have sold since at least 2010, and there only have been a handful of appearances of a specimen of this iconic denomination in any grade. Thankfully for the advanced collector, this example is as pretty as it is rare, with lovely pastel colors, strong originality, and fantastic eye-appeal. A penciled annotation at top left dates this specimen to 1918 and a minuscule print run of just 100 notes for circulation in that run. Like the rest of the series an amazing opportunity for the specialist and one that we do not expect will repeat itself anytime soon. PCGS mentions "Perforated cancelled".
Iconic and High Grade 500 Tomans Specimen
An exceptional offering that concludes the fantastic specimen set of the first series of the Imperial Bank of Persia on offer today. An iconic world banknote, extremely desirable and in demand from many collectors worldwide. While this series also includes a 1000 Tomans, it must be noted that a single issued example of that denomination is in existence, while no issued notes of the 500 Tomans denomination are known to exist (and contemporary records indicate that just a single piece remained outstanding as of December 20, 1931, with a mere 1400 notes printed over a 33 year period), making specimens such as this the only way an advanced collector can hope to add this iconic denomination to their collection.
The Imperial Bank of Persia, established in 1889, holds a significant place in the financial history of Iran. It was organized in Great Britain by Baron Julius de Reuter, who received a royal charter for his new venture that year. Under the rule of Naser al-Din Shah, the country now known as Iran faced a pressing need for modern financial institutions to support its economic development. The issuance of banknotes such as this, along with loans and increased imports and exports, greatly contributed to the economic growth of the country.
Thanks to its impressive size, original and classic design, and rarity these notes are often counted among the favorites of many world banknote collectors. Unfortunately, the higher denominations are extremely rare, and seldom come up for sale, making the availability an infrequent occurrence at best. Publicly available auction records show just a single 66 graded example selling at public auction since 2010, in late 2022, when a PMG 66 EPQ brought $55,000 in an American auction that included another example (graded AU 58 by PMG). No other examples at this grade level have sold since at least 2010, and there only have been a handful of appearances of a specimen of this iconic denomination in any grade. Thankfully for the advanced collector, this example is as pretty as it is rare, with lovely pastel colors, strong originality, and fantastic eye-appeal. A penciled annotation at top left dates this specimen to 1918 and a minuscule print run of just 100 notes for circulation in that run. Like the rest of the series an amazing opportunity for the specialist and one that we do not expect will repeat itself anytime soon. PCGS mentions "Perforated cancelled".