NEWS PENTICTON WESTERN
www.pentictonwesternnews.com
A3
news
School district administrators book $80,000 in expenses
VOL. 48 ISSUE 21
A14
Vees face Vipers in second round of playoffs
page
B1
FRIDAY, March 14, 2014
entertainment Kiwanis festival kicks off with keys and strings
A10
volunteer Chris Grauer spreads the volunteer spirit
COIN DEALER HITS JACKPOT
NEWS This isn’t the first time that Bakalos and Bell Steve Kidd have seen this $500 bill. In 2010, it was Bakalos PENTICTON WESTERN that convinced the current owner to purchase it Western News Staff
Kosta Bakalos is calling them Canada’s most through Bell’s auction house, when it sold for $190,000. wanted. Before that, the last time it changed hands It’s justified. Along with several other pieces, the Penticton numismatist is selling a 1925 Do- was in 1961, when Bakalos said it sold for minion of Canada $500 bill, which alone should $1000. “I convinced my client it would be a great bring in $450,000, according to the value set by Bakalos, the owner of Bluenose Coins and Pre- buy. I was actually going to bid up to the neighbourhood of $275,000,” said Bakalos. cious Metals. It’s not often, he continued, that a dealer gets Of an original run of 40,000, only eight exa chance to represent a collection of this magniamples of the bill remain. “This one is the best one of all eight on re- tude, and his previous work with his anonymous cord, it’s even nicer than what the Bank of client was part of the reason he was selected. “It’s somebody that I have sold Canada has in their museum,” said to in the past and all of the major Bakalos, who has been asked to dealers have dealt with this perhelp sell some of the rarest coins son, but I guess he really liked how and bills in Canada by an anonyI handle things with him,” said mous collector. Bakalos, who describes his client “It’s probably one of the prettiest notes out there, in my opinion. If it It’s got the potential as a high-end collector who gathers sells for what we think it’s going to to hold the record for only the finest known or the biggest realize, it’s going to be a record.” the most expensive rarities he can get his hands on. “He’s decided that he wants to sell Bakalos describes the $500 bill note ever sold in the highlights of his collection, and as a true rarity and a significant Canada. of all the options that he had, he enpiece of Canadian numismatic histrusted Bluenose to represent him.” tory. — Kosta Bakalos The collection includes several “It’s like finding a Picasso other significant items, including somewhere in Penticton that has what Bakalos calls the “King of been hidden for years,” he said. “It’s got the potential to hold the record for the Canadian Coins,” a 1921 50 cent piece. “For anyone that knows anything about Camost expensive note ever sold in Canada.” The Western News was invited to view the nadian coins, it is the coin to have. There are bill before it was turned over for auction to Bri- only 75 in existence and that coin is one of the an Bell of Geoffrey Bell Auctions, who flew out two finest known,” said Bakalos. “It’s everybody’s dream that collects coins to from Moncton, NB to pick up the bill in person. The engraving on the blue 89-year-old bill can even hold a coin like that in their hands.” Bakalos admits he is one of those, having only be described as exquisite, down to the fine details on the portrait of King George V, which been a collector and a customer of Bluenose before he purchased the shop 15 years ago. graces the centre of the bill. “I am a collector at heart. I wish I could afIn those days, according to Bell, the focus was on the quality of the bill and the design, ford to own that,” he said, adding that he would compared to today, where the focus now is on have trouble ever letting go again. “If I had the means to own them, I would keep them.” counterfeit-prevention measures. But until they are sold, Bakalos said, this ex“Back then, it was actual artwork that they cared about,” said Bell. “They weren’t as con- ception coin collection will be resting in a bank vault. cerned about counterfeiting.”
KATERINA BAKALOS holds two pieces of Canadian currency valued in excess of $800,000, including a 1925 Dominion of Canada $500 bill and what’s called the “King of Coins,” a 1921 50-cent piece. Owner Kosta Bakalos of Penticton’s Blue Nose Coins and Precious Metals is helping sell the collection of the anonymous owner, including these two items.
Mark Brett/Western News
BELTONE SUPER SAVING DAYS Save up to 50%* off selected hearing aids. Phones and Accessories up to 70% off. *Phone or visit participating locations for details on special pricing. Stock is limited per location. Offer expires March 31, 2014. Certain conditions apply.
Hearing Clinic
PENTICTON
471 Ellis Street 250.492.5255
OSOYOOS
8303 - 78th Ave. 250.495.6535
OLIVER
Oliver Place Mall 250.498.4544
SUMMERLAND 9523 Wharton St. 250.494.8778