PALESTINE BANKNOTES HIGHLIGHTED ROSENBLUM SALE #44

A series of highly sought-after rare Palestine lots became the marquee lots of William M. Rosenblum’s latest mail auction.

Rosenblum, one of the world’s premiere numismatists, coined his 44th mail auction “The Philadelphia Collection.” A majority of the items belonged to a Philly businessman and numismatic aficionado, whose portfolios of rarities were collected over the last 40 years. Auction 44A also showcased a variety of ancient Greek, Roman and Jewish coins, as well as specialty collection interests of Judaic and Holy Land-related material.

“Seldom seen and extremely rare. Two phrases that sum up the breadth of coins, paper money and monies found throughout the auction,” Rosenblum said. “I knew interest would be high for these rarities, and I was not wrong. Bidders and collectors showed their spirit.”

The impressive paper section including a group of Israeli banknotes including numerous trials, specimens, printers’ proofs, color trials, provisional notes and just plain rarities. There was a set of 5 fractional notes all with matching serial numbers, a very rare 100 Pruta “inverted signature” note, two different “tintype” metal trials of the proposed 1955 notes and a most astonishing group of material, including internal correspondence, from the American Bank Note Company.

Specimen notes are offered from Israel’s first five paper money issues, that is 1948, 1952, 1955, 1958-60 and 1968. “I believe that is the first time that has occurred in an American auction (and perhaps worldwide),” Rosenblum added.

Among the highlights:
Lot 254: Palestine. 1927 Cased Double Proof Set. KM-PS1. Bidding started at $11,000 with a final sale prices at $38,000.

The extremely rare set with its original red leather case is estimated to be among one dozen sets to survive in private hands. Thirty-four sets were produced in 1927, featuring fourteen (two of each denomination) choice coins. The bronze coins are choice red, the copper-nickel coins are lustrous under light toning and the silver coins are brilliant under heavier, but attractive, toning. The red leather cover case includes a gold embossed inscription Palestine Currency Board 1927.

Lot 376: Israel. American Bank Note Company. Uniface Proofs, Process notes and internal correspondence associated with both the Anglo-Palestine and Bank Leumi issues. Sold as a group for $50,000.

Lot 410-415: Palestine Currency Board. The group of 6 Dabbah plate notes including 2 specimens and 4 printer’s proofs for all 6 denominations, were offered in one group, and sold for a final price of $205,000. Rosenblum purchased the rare, seldom seen notes from Mel and Jeremy Steinberg in January of 2003 and sold it to his Philadelphia client later that month.

The notes:
*410 Palestine, Palestine Currency Board. Dabbah Plate note. P-6cff, 500 Mils 20 April, 1939. Series L. Specimen. Cancelled perforated along lower center of the note. Series L 500 Mil notes were never issued as circulating notes but were printed in error from old plates in 1948. In the upper margin is the pencil inscription HH2376 23/3/48 2335 and then in the far right corner 60C. Uncirculated but mounting trace on back. Printed in error on 23 March, 1948 by TDLR and reported to the PCB the following month.

*411 Palestine, Palestine Currency Board. Dabbah Plate note. P-7a, PCB B2a, 1 Pound 1st September, 1927. Printer’s Proof with serial # A000000. AU, but for notations as follows. On the face in the upper margin in pencil CA 85/105 1927 and on the back in pen approved subject to amendment in script specified in Board’s letter of 7/6/27 followed by the signature of the Board’s chair, P. Ezechiel.

*412 Palestine, Palestine Currency Board. Dabbah Plate Note. P-8a, PCB B3a, 5 Pounds 1st September, 1927. Printer’s Proof with serial # A000000. On the face in the upper margin in pen is the notation approved, subject to Board’s letter of 4/8/27 followed by the signature of the PCB secretary, H. C. Ransom. AU but for small smudge on bottom margin that is mostly visible on back of note.

*413 Palestine, Palestine Currency Board. Dabbah Plate note. P-9a, PCB B4a, 10 Pounds 1st September, 1927. Printer’s Proof with serial # A000000. On the face in the upper margin in pen is the notation approved, subject to Board’s letter of 4/8/27 followed by the signature of the PCB secretary, H. C. Ransom. AU but for a few small spots on back, a barely noticeable tiny tear on bottom margin and a corner fold.

*414 Palestine, Palestine Currency Board. Dabbah Plate Note. P-10a, PCB B5a, 50 Pounds 1st September, 1927. Printer’s Proof with serial # A000000. On the face in the upper margin in pen is the notation approved, subject to Board’s letter of 4/8/27 followed by the signature of the PCB secretary, H. C. Ransom. AU but for a tiny tear in right margin and an even smaller “tic” above the “a” in “Ransom”. All 50 Pound Palestine Currency Board notes, whether issued, specimens or proofs, whether in high grade or put together with tape are extremely rare.

*415 Palestine, Palestine Currency Board. Dabbah Plate Note. P-11b, PCB B6b, 100 Pounds 30th September, 1929. Printer’s Specimen with serial # A000000. On the face in the upper right margin in pen is the notation 65/1. Unlike other specimens (see Lot above), this note is punched with 3 holes and not perforated with the word Cancelled. Dabbah speculates that 65/1 indicates the plate or print number. AU, but for some green stains indicating this was probably removed from the press before the ink was dry. Tracing of mounting can be seen on the back. All 100 Pound Palestine Currency Board notes, whether issued, specimens or proofs, whether in high grade or put together with tape are exceedingly rare.

In 1973, the Philadelphia businessman purchased his first coins from Rosenblum and quickly became a true collector. From early small-change tokens, to the famed 1927 Palestine Double Proof Set, remarkable provisional issues of 1948, among hundreds more, “The Philadelphia Collection” would still be growing, if it were not for his passing.

Rosenblum’s Spring 2015 auction will offer additional lots from “The Philadelphia Collection.”

Rosenblum has been issuing price lists and conducting auctions since 1971 and continues to be a leader in the field of Jewish and Holy Land related numismatic material. His sales do not have a buyer’s fee. For more information contact Bill Rosenblum at Bill@Rosenblumcoins.com, via phone at 720-981-0785 or visit www.rosenblumcoins.com.

Bill adds:

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