Smythe March 20th U.s. & World Paper Money Auction

By: Phil Davies

Manhattan, New York - March 13, 2008 - The R. M. Smythe & Company spring paper money auction on March 20th 2008 will offer 890 lots of paper money at their Manhattan office. One of the more interesting lots of world banknotes will be the specimens of Siam banknotes, in particular the 20, 80, and 100 Tical denominations, are believed to be the only examples know to exist. They once resided in a Paris museum, were purchased by a dealer 15 years ago for $90,000, and recently were owned by the President of the Thailand Numismatic Association.

The spring sale will also include a wide selection of U.S. and World Notes, including; U.S. Large & Small size, 50's and 100's FRN's Small Size Collection, U.S. Small Size Errors, U.S. Fractional Currency, National Banknotes, Colonial Currency, Historic Documents, Confederate Currency and Bonds, Obsolete Currency, Obsolete Sheets and miscellaneous historical items. Some of the more noteworthy lots include:

Lot # 234 - Banque de l'Indo-Chine. [Estimate $100,000 to $125,000] Decree of 21.1.1875 and 20.2.1888. Bangkok. 1) 19.12.1898. 5 Ticals. P-S101. Specimen. Emerald green with printed date. Vignette on left depicting oriental woman holding bamboo shoot seated below "France" holding caduceus. Bank of France style of numeration with serial number 000 and block number 0.0. Value in English and French. Faux magenta watermark of woman. Two engraved signatures. Text in Chinese and Siamese overprinted in black on back. Impeccable condition. Uncirculated. 2) 5 Ticals. Specimen. Similar to first specimen but without date, zero numerals or faux watermark on front. Only one engraved signature. Overprint of Chinese and Siamese text absent from back, but Chinese text in the center is printed in emeral green with the rest of the back. Uncirculated. 3) 6.12.1898. 20 Ticals. P-S102. Brown with reclining Neptune holding trident at left. Back has black overprint in Chinese and Siamese. Zero numerals overprinted on front in black along with the magenta faux watermark. Two engraved signatures. Space left blank for handwritten or affixed signature for Le Caissierde l'Agence. Uncirculated. 4) 7.11.1898. 80 Ticals. P-S103. Light blue with two elephants at left and right pillars, two reclining women with a tiger and a water buffalo at lower center. Overprinting similar to that on the 20 Tical note, and signature block of Caissier de l'Agence left blank. Uncirculated. 5) 31.2.1898. 100 Ticals. P-S104. Red with Vasco de Gama at left and Polynesian man with paddle above dragon boat at right. Sailing ships at lower center. Overprintings similar to those in the previous three lots and signature area of Caissier de l'Agence left blank. Uncirculated. [5]
With the authorization of the Ministry of the Colonies, the Bank of Indochina opened a branch bank in Bangkok on 22 February 1897. The printing of banknotes for use use in Siam was first considered on April 27, 1897, and a series of four values (5, 20, 80 and 100 Ticals) adopted the design of the first series of notes issued for Indochine but with texts and colors modified. Each value has a different design, and there are various dates.

Lot # 235 - Hong Kong & Shanghai Banking Corporation. 18xx. 400 Ticals. [Estimate $15,000 to $20,000] P-S127r2. Salmon and green front with Chinese and Siamese text overprinted in black. Royal arms at top center. Red-orange back with Siamese text overprinted in black. Two vertical "CANCELLED" perforations. Date of Dec 1895 handwritten in black ink in the upper right margin. Highest denomination reported in the standard catalog. Extremely rare. Has a corner tip fold and some light glue remnant along a margin in the back. Choice AU.

Lot # 247 - Thomas De La Rue. [Estimate $20,000 to $25,000] Presentation album with front and back design proofs for an unissued 1000 Baht note. The purple on multicolored front has a portrait of King Rama IX at the left in Field Marshall's uniform that closely resembles the portrait on the 1 Baht note of the 1953-56ND issue. The back in the right recessed panel has a central vignette showing activities surrounding the major regional products of Thailand: rubber, lumber, fish, and rice. There exist proofs of unadopted lower denomination notes whose backs each separately depict one of these activities. Uncirculated.

This album was once owned by the President of the Currency Board and is believed to be unique. There is minor corner wear on the red album, and some minor foxing on the inner boards, but the essai proofs themselves are bright and problem free.

Lot # 298 - $10. Fr.95B.1863. No.5317. Choice Uncirculated. [Estimate $12,500 to $15,000] A beautiful, fresh note with exceptional colors and paper quality. The only quibble would be a tiny corner tip fold in the upper right that extends only 1mm into the note. Centered perfectly on the back and shifted slightly right on the front. Opportunities to acquire this type in very high grade are becoming few and far between.

Lot # 523 - California Ch.12454. Los Angeles. Pacific NB. $50. Fr.685. [Estimate $8500 to $9500] 1902 PB. No.7 B. 63 Choice Uncirculated. One of the 15 single-digit $50 1902PBs recorded in T&P which all grade about the same as this piece. They are very quick sellers, and supply never keeps up with demand. Great embossing and originality can be plainly seen through the PMG 63 EPQ holder.

Lot # 296 - $5. Fr.70. 1880. No.Z357532. Gem Uncirculated. [Estimate $8000 to $10,000] One of the finest known large brown seal Fr-70 Legals. The embossing and overall originality are clearly discernable through the CGC Gem65 holder. The PMG population report shows two 65s and one 66. A PMG63 sold last year for $9200. This beauty should fetch at least that amount.

Lot # 596 - Continental Currency Counterfeit Detector. Act of September 26, 1778. Pane of $5-$7-$8-$20-$40-$50-$60. [Estimate $4000 to $8000] Blue paper. Counterfeit detectors were printed using the actual plates and distributed to banks and merchants to prevent fraud. The blue color was intended to stop the notes from being filled in and circulated. Extremely rare in sheet form. Three small edge split on the left margin, otherwise Uncirculated.

Lot # 301 - $100. Fr.204. 1863. EF-AU. [Estimate $6000 to $8000] Lovely obverse proof of the $100 Two-year Interest Bearing Note with three coupons attached. Printed on heavy paper. Plate letter A. Dated December 1, 1963. Three small hole cancellations through each signature on the note, and two each through Chittenden's single signature on the coupons. The paper has all sharp corners with two vertical folds, one through the center and one along the border with the coupons. Only two issued examples are known, and albeit not nearly as rare, proofs are very scarce.. The plate letter D proof in VF condition sold earlier this year for $6900.

"Our March 20th sale is going to have several very rare items, but the majority of the lots offered will be exceptional quality banknotes with pre-auction estimates that put them well within range of the average collector." said Mary Herzog, Vice President of R.M. Smythe & Company. "The quality of the World Banknotes we are offering at this sale is extremely high. Collectors of these notes will have an amazing opportunity to purchase some truly wonderful examples."

Lots will be available for viewing at Smythe's offices at 2 Rector Street, in New York City, by appointment only. To arrange for an appointment call R. M.Smythe & Co. at 800-622-1880. For updates on this auction check Smythe's website at smytheonline.com. This auction will also be conducted with eBay Live/LiveAuctioneers. A complete catalog of all 890 lots including photos and estimates can be viewed online at: . Select "Current Auctions" in the left column.

Accredited media interested in scheduling an interview to discuss this release or past & upcoming auctions are encouraged to contact Mary Herzog at 212-943-1880. High resolution photos are also available upon request.

About R. M. Smythe & Co.
R. M. Smythe and Co., established in 1880, buys, sells, and auctions coins, paper money, stocks and bonds and autographs at their corporate headquarters at 2 Rector Street in the heart of the Financial District in New York City. To order a catalog, to contact any of the firm's specialists, or to make general inquiries, call 212-943-1880 or 800-622-1880, or visit the firm's website at:

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