Straits Settlement $10 goes on block

When it comes to world paper, it is difficult to beat Spink’s master hunter-gatherer, Barnaby Faul. He’s done it again! On April 11, an extraordinary Straits Settlement rarity will be offered as part of their main world bank note sale: a $10 of 1 January 1931 signed by Luis Shelley (P-18a, Goon SS31X, Tan S19).

Apart from the note bearing one of the scarcer P-18a dates, as well as having a desirable PMG-53 About Uncirculated grading, what marks this item out-of-the-ordinary is the serial: A/1 00001. This is the first George V portrait $10 to be issued for Straits Settlements.

The first portrait $10 of George V to be issued for Straits Settlements (P-18a) dated 1 January 1931 and with serial number A/1 00001. In PMG-53 About Uncirculated, it goes to the block in Spink London’s April sale with an estimate of c. $35,000-$45,000. (Image courtesy and © Spink, London)

The lot is accompanied by a memorandum dated April 14, 1932, from CHAIRMAN AND MANAGING DIRECTOR. It reads: “Dear Cecil, I am sending you herewith $10 note, No. A/1 00001, the first issued of this value. I thought you might like to have it as a personal memento of your great victory.” Spink assumes “Dear Cecil” was Sir Cecil Clementi, who was Governor of Straits Settlement at the time of issue.

This important, historical, first-portrait bank note will go to the block with an estimate of $35,000-$45,000 (£25,000-£35,000).

Prior to the main sale on April 11, the Shlomo Tepper Collection of Palestine currency will be offered in a separate catalog. Two rarities lead this sale.

British Palestine £100 face proof showing an unused vignette of the Al-Jazzar Mosque at left. Note the handwritten 18 March 1938 date at lower right. Graded PCGS-63 Choice New, it will carry an estimate of c. $45,000-$75,000. (Image courtesy and © Spink, London)

First up is a face proof of a £100 with an unused vignette, pictured at left, of the Al-Jazzar Mosque built by Ahmad Pasha (Dabbah p.319). The proof is hand-dated 18 March 1938. Graded PCGS-63 Choice New, it will carry an estimate of $45,000-$75,000 (£35,000-£55,000).

Second is a regular issued example of a scarce £50 dated 30 September 1929 (P-10b, Dabbah p.155). It carries pinholes and has an ink annotation on reverse, but it otherwise graded PCGS-35 Very Fine. The estimate is set at $65,000-$80,000 (£50,000-£60,000).

But there is more, much more. At the very least, world paper collectors need to check out both catalogs online at www.spink.com, as well as the catalog for an online timed auction that commences March 29 and ends April 11.

This article was originally printed in Bank Note Reporter. >> Subscribe today.

More Collecting Resources

• Order the Standard Catalog of World Paper Money, General Issues to learn about circulating paper money from 14th century China to the mid 20th century.

• When it comes to specialized world paper money issues, nothing can top the Standard Catalog of World Paper Money, Specialized Issues .

Kerry RodgersAuthor