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Saturday, November 13, 2010

Unique Lebanese banknotes go under the hammer in London, tonight

Spink will be assisting in the sale, which looks to catch an exciting trend in Middle Eastern collecting

Notaphily is a rapidly growing area in collecting, and as we've noted banknotes are increasingly showing how strong they can be as investments, especially in the Middle East where Iraqi and Palestinian notes has torn up their estimates this year.

Spink has been at the forefront of such bank sales, and so it is unsurprising that they are involved in the sale tonight of Exceptional Serial Number Lots from the first issue of the 1000 Livres of 2008 from the Banque du Liban.

The auction is headed by the 1000 Livres 2008, serial number K (1000) 1/1 000001, grey-green, design of letters from the Aramaic, Phoenician, Nabatian and Arabic alphabets, signed by the Governor Riad Salamé and the first Vice-Governor Ahmad Jashi.

Lebanese banknote

K 1/1 is the first prefix of the issue of 2008 and this is the first note of issue. The following three lots offer the next three lowest K 1/1 serial numbers in groups of three, followed by the first ten serial numbers of K 1/2 and K 1/3.

The other key lot in the sale is a type collection of Banque du Liban specimens from 1964 in a cedar wood Banque du Liban presentation case containing A Perspex block with the following inscription,

"You are the holder of one of only two boxes ever produced.

It is with a sense of pleasure mixed with nostalgia and pride that we present to you the product of Banque Du Liban's work spanning from 1964 until today.

The complete collection of banknotes specimen issued by Banque Du Liban is preciously preserved within this cedar wood box.

We humbly hand it to you to be its guardian for the generation to come.

Riad Toufic Salamé
Governor of the Banque Du Liban"

The auction takes place in the Carlton Jumairah Park Tower in London this evening. Spink set the highest price at auction for a Middle Eastern banknote (a Palestine £100 note from 1927, which sold for £42,000) this year amongst several other recent achievements in banknote sales.