Farmers Bank of China, 1942 private issue banknote trio brings $20,060 at Archives Int'l Auctions A 1942 Farmers Bank of China banknote trio hammered for $20,060 at a two-day, three-session auction held December 11th and 14th by Archives International Auctions in Fort Lee, New Jersey, and online.
BigNews.Biz - Dec 26,2015 - FORT LEE, N.J. - A 1942 Farmers Bank of China banknote trio hammered for $20,060 and an 1898 Imperial Bank of China 10-Taels Peking issue note brought $17,700 at a two-day, three-session sale held December 11th and 14th by Archives International Auctions at the firm's offices in Fort Lee, New Jersey. Over 1,900 lots were sold and dozens new records were set.
The auction featured U.S., Chinese, Russian and worldwide banknotes, coins, scripophily (the collecting of stocks and bonds), and security printing ephemera. The first two sessions included Part 2 of the Alexander I. Pogrebetsky family archives of rare Chinese and Russian banknotes (Part 1 was sold at a prior sale in Hong Kong, also held by Archives International Auctions), plus items from the recently discovered Shanghai Banker's Collection that had remained untouched since brought to this country by a missionary in 1948.
“The spectacular results of Part 2 of the Alexander I. Pogrebetsky collection, plus the Shanghai Banker’s Collection, far exceeded our expectations and gave a glimpse into the Chinese and Russian banknote collecting market, which evidently could not be stronger,” said Dr. Robert Schwartz, the president of Archives International Auctions. “New record prices were the norm for the day.”
Dr. Schwartz added, “There was non-stop bidding in the China and Russian sessions, with over 90 percent selling to live gallery, phone and internet bidders. We are anticipating our third and final offering from the Pogrebetsky collection sometime in mid-to-late winter of 2016, also at our Fort Lee offices. We're confident the sale will generate a tremendous amount of excitement.”
Session I, held on December 11th, included U.S. and worldwide banknotes, scripophily, coins and security printing ephemera, with 58 percent of the 901 lots up for bid finding new owners. A few highlights included two different Government of Belize color trial specimen notes hammering for $620 and $561, respectively; and a 1905 Danish West Indies $5 banknote selling for $1,121.
A 1720 “John Law” Banque Royal French note brought for $679; an 1886 Paraguay, 200 Pesos Fuertes, Banco Nacional Del Paraguay proof banknote rarity realized $1,652; a Spanish 1871, El Banco De Espana essay proof banknote hit $1,416; and a UAE Central Bank (1983 no date) high grade example made $1,062.
Russia was extremely popular in Session 1, with 110 out of 139 lots offered selling (for a sell-through rate of 79 percent). Highlights included a collection of East Siberia notes that went for $1,062; a pair of 1922 Gold Kopek banknote issue rarities that were never issued, with the two hammering for $5,900 and $6,490; and a Zazunov Coffee Shop private issue that realized $443.
Scripophily results included an 1879, California, Bodie Bluff Consolidated Gold Mining Company certificate ($531); and a Rio Grande Bridge & Tramway Co., 1890 Texas Railroad related certificate ($472). U.S. banknote highlights included an 1882 Brown Back $20, Winona, Minnesota National Banknote ($1,534); and an inverted back error 1934A, $10 Fr.#2006-G note ($944).
Session 2, which included the Alexander I. Pogrebetsky reference collection of