Noonans The George Kanaan Collection of North African Banknotes - Part One (1 Oct 26)

THE GEORGE KANAAN COLLECTION OF NORTH AFRICAN BANKNOTES: PART I

1 OC TOBER 2 0 2 6 AT 1 0 AM

AUC TION AN AU C TION OF: TH E GE ORGE K AN A AN COLLEC T I O N OF NORTH A FRI C AN B AN K N OT ES: PART I DATE: 1 OC TOB E R 2026 AT 10 AM V IE WIN G STR IC TLY BY A P P OIN TMENT ONLY PU BLIC VIE WING PL E A S E CONTAC T 020 7016 1700 OR B A NKNOTE S @N OON AN S .CO.UK ALL APPOINTME N TS TO VIE W PL E A S E CONTAC T 020 7016 1700 OR VIE W ING@ NOON AN S .CO.UK A L L LOTS A R E AVAI L AB LE TO VI E W ON LI N E WI T H FUL L ILLUS TR AT I O N S AN D CO N DI T I ON REP O RT S AT W W W. NOO N AN S .CO.UK

CONTAC TS GENERAL AU C T ION ENQUIRIES AUC TION S@ N O O N AN S .CO.UK B ANKNOTE ENQUIRIES B A NKNOTE S @N OON AN S .CO.UK ACCOU NT EN QUIRIES ACCOUNTS@ N O O N AN S .CO.UK SHIPPING ENQUIRIE S SH IPPING@ NO O N AN S .CO.UK

B ANK DETAIL S B ANKER S: LLOY DS ADDR ESS: PICC ADI LLY, LON D O N SORT CO D E: 30-96-64 ACCOU NT NO.: 00622865 SWIF T CO D E: LOY DGB2L IB AN: GB 70LOY D 30966400622865 BIC : LOYDGB 21085

B OARD OF DIRE C TOR S PIERC E NOO NAN CH A IR MA N A ND C EO NIM ROD DIX DE PUT Y CH A IRMAN RO BIN GRE VIL L E CH IE F OPE R ATI N G OF F I C ER CHRISTO PHER WE B B CL IE NT L IA I S O N D I REC TOR (N UMI SMAT I C S)

COVER LOT 375 B ANQU E D E L’ALGERIE ET DE L A TU NIS I SPEC IM EN 1000 FRANCS , 1950

AUC TI O N A N D CL I E N T SE RVI CE S PHI L I PPA HE ALY A D M I NI S T RAT I O N D I RE C TO R ( A S S O C . D I RE C TOR) P H I LI P PA @NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 7 7 5 A N N A HO PPE R S E NI O R A D M I NI S T RATO R A NNA @NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 7 0 0 SO FI A B USACC A A D M I NI S T RATO R S O F I A @NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 7 0 0 LO UI S O CO N N O R A D M I NI S T RATO R LO U I S @NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 7 0 0 CHR I STO PHE R M E L LO R - HI L L H E A D O F CLI E NT LI A I S O N ( A S S O C . D I RE C TOR) CH RI S TO P H E R@NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 7 7 1 J AM E S C ARVE R CLI E NT LI A I S O N J B C@NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 7 7 1 CHR I S FI N CH HAT TO N CLI E NT LI A I S O N F I NCH @NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 7 5 4 M AX HAYD E N - C A SE LO G I S T I CS A ND FACI LI T I E S M A NAG E R M A X @NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 7 6 1 I AN AN D E R SO N CH I E F T E CH NO LO GY O F F I CE R ( A S S O C . D I REC TOR) I A N@NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 7 5 1

B AN KN OTE SPE CI AL I STS A N D R E W PAT TI SO N H E A D O F D E PA RT M E NT ( A S S O C . D I RE C TO R) A ND RE W@NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 8 3 1 THO M A SI N A SM I TH GLOB AL HE AD OF NUMISMATICS (ASSOC . DIRECTOR) T H O M A S I NA @NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 8 3 2 B AR N ABY FAUL L S E NI O R B A NKNOT E S P E CI A LI S T B A RNA BYFAU LL@NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 8 3 3 M I CHAE L O ’ G R A DY B A NKNOT E S P E CI A LI S T M I CH A E LO G RA DY@NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 7 0 0 TE D E D M UN D S B A NKNOT E S P E CI A LI S T T E D @NO O NA N S .CO.U K T. 0 2 0 7 0 1 6 1 8 3 4

O RDER O F SALE

THE GEORGE KANAAN COLLECTION OF NORTH AFRICAN BANKNOTES: PART I T HU R S DAY 1 OC TO B ER AT 10 AM

MOROCCO

TUNISIA

PROTECTORAT DE LA FRANCE

1–7

BANQUE DE L‘ALGERIE

322–369

BANQUE D’ETAT DU MAROC

8–90

BANQUE DE L’ALGERIE ET DE LA TUNISIE

370–379

BANQUE DU MAROC

91–103

REGENCY OF TUNIS

380–395

BANK AL–MAGHRIB

104–107

BANQUE CENTRALE DE TUNISIE

396–439

STATE BANK OF THE RIFF

108–109

COMPAGNIE DE GAFSA

440–447

SERVICES MUNICIPAUX, CASABLANCA

110–113

FRENCH SOMALILAND

TANGIER SERVICIOS MUNICIPALES, TANGIER

114–118

ALGERIA

BANQUE DE L’INDO–CHINE

448–470

TRESOR PUBLIC

471–475

FRENCH AFARS AND ISSAS

BANQUE DE L’ALGERIE

119–215

REGION ECONOMIQUE D’ALGERIE

216

BANQUE DE L’ALGERIE ET DE LA TUNISIE

217–241

BANQUE DE L’ALGERIE

242–256

BANQUE CENTRALE D’ALGERIE

257–282

BANQUE D’ALGERIE

283–294

ALGERIAN TOWN ISSUES

295–321

TRESOR PUBLIC TERRITOIRE DES AFARS ET DES ISSAS

476–481

DJIBOUTI BANQUE NATIONALE DE DJIBOUTI

482–489

BANQUE CENTRALE DE DJIBOUTI

490

FORTHCOMING AUCTIONS 2026 16 O C TO BER SPECI MEN B ANKNOTES OF THE WORLD B RI TI SH & IR I S H B ANKNOTES 25 NOVEMBER WOR LD B ANKNOTES A LL DATE S A RE P ROVI SI ON AL AN D D O N OT CO N S T I T U T E A F U LL LI S T I NG F O R T H E DAT E S PA N S H OW N .

PL E A SE SEE W W W.NOON AN S .CO. UK F O R M O RE D E TA I L S A ND T H E L AT E S T U P DAT E S

SU M M ARY OF I NFORMATI ON FO R BUY ERS

RE GIS T E RIN G TO BID

New clients must register online to bid (whether in person or in absentia). This can be done via our website www.noonans.co.uk Registrations will be subject to due diligence and Noonans reserves the right to cancel registrations.

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BIDDING P RIORITY

Please note that we prioritise executing commission bids as early as possible in order to secure the lot for you at the cheapest possible price. It is therefore entirely possible that a lot can sell at your top bid to another bidder. To avoid this happening we offer an optional ‘Plus 1’ bidding increment facility, whereby if the bidding is against you at your maximum bid the auctioneer will execute one further bid on your behalf. Please note that in the event of identical top bids priority is given to the first bid received.

P L ACIN G B IDS

LIVE BIDDING VIA WWW.NOONANS.CO.UK You may bid in real time from your computer or mobile device. We provide an optional live video and audio feed of the auctioneer, allowing you to participate in much the same way as attending the auction. You may see your invoice and pay online directly after you’ve finished bidding. There is no additional charge for this facility.

ADVANCE BIDDING VIA WWW.NOONANS.CO.UK We strongly advise this method if you wish to leave bids in advance as it is the easiest, most accurate and flexible way to leave your bids and gives you total control over them right up to the point that the lot is offered for sale. Bids made online cannot be seen by others and only become live at the point the lot is being sold. Up until this time your bids can be easily altered or cancelled. An automated email is sent to confirm any changes made. There is no additional charge for online bidding.

ADVANCE BIDDING VIA POST, EMAIL OR TELEPHONE Whilst we are still happy to execute all bids submitted to us using post, email or telephone, it should be noted that all bids left with us in these ways will be entered at our offices using exactly the same bidding facility to which all our clients have access. There is, therefore, no better way of ensuring the accuracy of your advance bids than to place them yourself online.

If you are registered with Noonans you may bid by email to bids@noonans.co.uk or by telephone to 020 7016 1700. All bids placed by email or telephone must be received before 4 PM on the day preceding the sale.

A bidding form is included in the back of this catalogue. If you wish to use this please fill it in carefully, to include all relevant information.

Please ensure that you post this form so that it arrives, at the latest, the day before the sale.

BIDDING IN THE AUCTION ROOM You are very welcome to attend the auction and bid in person if you are registered with Noonans.

Please note that the auction room is situated on the third floor of a Georgian building which doesn’t have a lift. You may pay for and collect your lots during the auction.

S AL EROOM N OT ICE S

Should the description of a lot need to be amended after the publication of this catalogue, the amendments will appear automatically on the Noonans website, www.noonans.co.uk. All such amendments are also incorporated in the List of Saleroom Notices pertaining to this auction which are posted separately on the website.

The auctioneer will refer to any notices at the time any affected lot is offered for sale.

C ATALO GU E IL LUS TRAT ION S & TH E IN TER N E T

Prospective bidders are reminded that the Noonans website features high-resolution colour illustrations of every lot in this auction. There may also be additional illustrations of any lot.

BUYER S ’ P REMIUM

The rate for this sale is 24% of the Hammer Price (+ VAT where applicable).

IMP ORTAT ION VAT

Lots marked ‘X’ are subject to importation VAT of 5% on the Hammer Price unless re-exported outside the UK, as per Noonans Terms & Conditions of Business.

From 1 January 2021 importation VAT may be levied by EU countries on lots sold by Noonans and subsequently imported into those countries.

Although Noonans is unable to advise buyers on customs regulations in their country of domicile, there is further information regarding EU importation VAT rates for collectable items in the Terms and Conditions published on the Noonans website.

MULTIP L E LOTS

All multiple lots (lots containing two or more items) with the exception of designated sets of banknotes are sold as viewed and not subject to return. Buyers are recommended to view such lots.

PR I CE S R E A L I SE D

The hammer prices of lots sold at Noonans auctions are posted at www.noonans.co.uk in real time and telephone enquiries are welcome from 9 AM on the day after the auction.

PAYM E N T

You may access your invoice shortly after the hammer has fallen on your last lot. As we weigh lots at the time of cataloguing most shipping is already calculated, enabling you to settle your account and receive your lots in a timely fashion.

Auction attendees may pay and collect during the course of the auction as soon as they have bid on their last lot.

Full Terms and Conditions of Business are available to read in the back of this catalogue and on our website.

CO N TAC TS

GENERAL SUPPORT ENQUIRIES auctions@noonans.co.uk 020 7016 1700 or from overseas (+44) 20 7016 1700 WEBSITE AND LIVE BIDDING SUPPORT ENQUIRIES Ian Anderson ian@noonans.co.uk 020 7016 1700 or from overseas (+44) 20 7016 1700

REF ER EN C E B OO K S AND SALE ORGANI SATI O N ENGLIS H P ROV INCIAL B ANKN OT E S

J E R SE Y

English Provincial Banknotes are organised by Outing reference.

Jersey is organised by McCammon, BNYB and BNB references.

The Standard Catalogue of the Provincial Banknotes of England and Wales — Roger Outing

Currencies of the Anglo Norman Isles (two volumes) — A. McCammon

TR E A SU RY SE RIE S AN D B AN K OF E N GL A N D

Treasury Series and Bank of England are organised

by EPM reference.

English Paper Money 10th Edition — Pam West IREL AND AN D NORTH E RN IREL AN D

Ireland and Northern Ireland are organised by PMI reference and also by Pick reference.

Banknote Yearbook 12th Edition — Ed. John Mussell The Banknote Book (Online Edition) — Owen Linzmayer G UE R N SE Y

Guernsey is organised by GPM reference.

Guernsey Paper Money — Pam West and Steve Norman R E ST O F THE WO R L D

Paper Money of Ireland 2nd Edition — Jonathan Callaway World Paper Money (three volumes) — Ed. George Cuhaj

The Rest of the World is organised mainly by BNB reference, with Pick as a secondary reference, or a primary reference in cases where BNB is not yet published.

Scotland is organised by PMS reference.

Various other country specific reference books are also used on occasion.

Paper Money of Scotland (two volumes) — Jonathan Callaway and Dave Murphy

The Banknote Book (Online Edition) — Owen Linzmayer/Greysheet

S COT L AND

IS L E OF MAN

Isle of Man is organised by IOMPM reference and also by Pick reference.

World Paper Money (three volumes) — Ed. George Cuhaj M I L I TARY AN D PR I SO N E R O F WA R M ONE Y

Isle of Man Paper Money — Pam West and Alan KellyS

Military and Prisoner of War Money is usually organised by Schwan–Boling and Campbell reference.

World Paper Money (three volumes) — Ed. George Cuhaj

World War II Remembered — C. Frederick Schwan and Joseph E. Boling Prisoner of War and Concentration Camp Money of the 20th Century — Lance K. Campbell

I NTRO DUCTI ON

THE GEORGE KANAAN COLLECTION OF NORTH AFRICAN BANKNOTES: PART I

M

y fellow banknote aficionados, what you see in this catalogue is a work of love spanning five decades: a love of the banknotes I collected and a love of the people from whom I bought them, many of whom are no longer with us. In every way possible, Barnaby Faull and Michael O’Grady were never far from any decision I made in assembling this collection. To them, I owe a very great thank you.

When acquiring a banknote, one enjoys its historical content. After all, it is a document that contains a wealth of information about what was happening at the time of its issue. One also appreciates it as a work of art— often colourful, intricate, and fascinating. There is also the thought that the banknote was once meaningful to so many people and represented considerable value to them. And one cannot help but marvel at how this seemingly flimsy piece of paper has survived through the ages, often for nearly 150 years, and still remains attractive and interesting.

My objective as a collector was to attempt the impossible: to obtain, for every note, an issued example in good condition, a specimen, a proof, and whatever colour trials existed. Sometimes I succeeded, and when I did, it was immensely satisfying. Above all, I aimed for quality and worked assiduously to upgrade my collection whenever the opportunity arose.

I hope you find my efforts of genuine interest. More than that, I hope you will follow in my footsteps and continue the work that I have begun.

Luck played a huge role in assembling a collection of this magnitude, but so did hard work. Being present at fairs whenever possible was immensely rewarding, as was the opportunity to meet fellow collectors and dealers and to discover pieces that might otherwise have remained beyond my reach.

You will find the North African notes in this collection to be particularly beautiful. What I find especially attractive is the way Eastern and Western artistic influences are blended together. African motifs are by no means absent; rather, they add greatly to the beauty and character of these notes. Of particular interest to me is the calligraphy, as well as the content of some of the inscriptions and texts appearing on them.

I first came to know Algeria and appreciate its great beauty when I was a lead banker for the country during my time at First Chicago in the mid-1980s. Tunisia has always felt like an extension of my home country, Lebanon, and I have always held it in great affection.

Morocco, meanwhile, remains utterly fascinating.

Enjoy the auction!

FO REWORD

I

have written many forewords over the last few decades - some are easy, extolling the virtues of a great collection or lauding the personality and attributes of the vendor. When it comes to George, I don’t know where to start. Maybe at the beginning?

Mike O’Grady and I must have both met George in the late 80s when we first started in banknotes. George was then, and still is now, a unique character - always cheerful and with a story to match every occasion. I soon discovered that George had been everywhere and knew everyone. If there was a global crisis or a financial meltdown George had an opinion, and this made for fascinating encounters whilst making me feel somewhat provincial. Mike and I have enjoyed countless lunches and dinners with George, to the extent that it was often easy to forget it was banknotes that brought us together. On a personal note, this will be the first time that George has had the opportunity to deal with Mike and I ‘on the same side’, which is wonderful for all three of us, and I think most would agree the result is a force to be reckoned with!

Speaking of Banknotes - where to start? George is an avid collector, banknotes being just one string to his bow. I recall him telling me that while working in Saudi Arabia he purchased a collection of banknotes, and that this sparked his long-lasting interest in this wonderful hobby. Whenever I acquired some new treasure from the Middle East, North Africa, or the Levant I would contact George. Usually over lunch (we both enjoyed

it, so why not!) I would propose a few additions to his collection. He would then dismiss my price and walk off with the aforementioned new addition to his collection leaving me wondering how he had effortlessly reduced my estimate to his idea of a more suitable amount.

Inevitably, with the passing of time, George decided it was time to concentrate on favoured collections of his beloved Lebanon and also of Syria and North Africa.

I oversaw the dispersal of his Gulf States collection by auction to a packed room of collectors all wanting to add an ex. George Kanaan collection footnote to their own collections. The wildly-successful sale was a testament to the quality of the material, but more relevantly to the esteem and affection that George is accorded in the collecting fraternity. I am also sure that there was a substantial ‘Kanaan premium’ applied to the prices realised!

This brings us to the present day, and I am delighted to say that George will be selling his collection of North Africa over the course of two auctions here at Noonans.

The first auction here and a second in early 2027, will, I am certain, do justice to these historic and beautiful banknotes and I am confident that collectors will once again be enthralled and excited by George’s passion for the subject.

Here at Noonans we look forward to a thrilling auction, and many more lunches to come!

Barnaby and Michael

FO REWORD

W

hen Thomasina and I went to visit George earlier this year to take a first look at his collection of North Africa, we didn’t know what to expect. While both of us were aware that he had been collecting notes from the region for some considerable time, we had no idea how extensive and advanced the collection would prove to be. Suffice to say, we were blown away by it all.

We decided that the collection was so large that the only way to do it justice would be to split it into two parts. This first part consists mainly of notes from ‘Afrique du Nord Française’, beginning with Morocco, the furthest west of the countries in question, and working eastwards from Algeria, to Tunisia, and eventually to French Somaliland and its regional successors.

It is a widely held opinion amongst collectors all over the world that the notes designed and printed in France in the 19th and 20th centuries are the most beautiful ever produced. A strong supporting argument would simply be to look through this catalogue.

The Moroccan notes are in many ways the most remarkable, as a huge number of them lack portraits or other traditional focal details, relying on beautifullyengraved architectural and floral motifs and an impeccable sense of style. This auction includes a particularly remarkable note in the form of a fully-issued and uncancelled 20 Rials of 1910 (lot 10). This note is missing from almost all advanced collections of Morocco, and is sure to attract a lot of interest.

When we reach Algeria we are treated to a wealth of early-20th-century blue-and-white designs, including some incredibly rare proofs and specimens for which it was impossible to find equivalent auction records. Also notable are the vast number of dates which George managed to acquire for some of the more commonly-

encountered designs from the 1920s, 30s, and 40s.

There are two real stars in the Algeria section however.

The first is an intact archival book containing proofs for the 20 and 50 Franc notes first issued in 1913-14 (lot 149). These books never survive intact and it is a joy to behold. The second is a legendary set of proofs for a 10,000 Franc note that was never issued (lot 173). Not only is the design beautiful, but seeing all the various print layers together in one place is wonderful.

In recent times, Algerian, and also Tunisian notes, from the turbulent era of the 1950s and 60s have done extremely well. A wonderful grade Algerian 50 Nouveaux Francs of 1956 (lot 240) is sure to attract a lot of interest, as is a lovely proof for a 500 Francs of 1946 from Tunisia (lot 367). It is also worth mentioning that George didn’t stop collecting until very recently, and he acquired some extremely rare modern specimen notes. Nowhere is this more evident than in the Tunisia section, where you will find a specimen of almost every note issued from the 1970s until the present day!

Finally, French Somaliland, the French Afars and Issas, and Djibouti offer a remarkable glimpse into a tremendously difficult area to collect. Very few notes were issued in these small countries, and George has put together an admirable group of them including a superb Chambre de Commerce 50 Cents with serial number 00015 (lot 450), and the finest-known example of the overprinted 20 Francs of 1943 (lot 461).

We fervently hope that all of you appreciate this remarkable collection as presented in this lovely catalogue. We wish all of you the best of luck with your bids, and we look forward to sharing the second half of the George Kanaan Collection with you in early 2027.

Andrew, Thomasina and Ted

N UM B E R 0 0 0 0 0 1 F OR B A N KN OT E S •

THE LE ADING NUMISMATIC AUC TION HOUSE IN THE UK COMBINED 130 YE AR S OF E XPERTISE THE FINEST AUC TION C ATALOGUES IN THE WORLD A TRULY GLOB AL RE ACH

ROYAL B AN K OF IR EL AN D, £ 1 , £ 5 AN D £ 1 0 P LO U G H M A N N OT E S , A L L W I T H S E R I A L N U M B E R 0 0 0 0 01

SOLD FOR A TOTAL PRICE £34,500

HEAD OF BANKNOTE DEPARTMENT ANDREW PATTISON andrew@noonans.co.uk

HEAD OF NUMISMATICS THOMASINA SMITH thomasina@noonans.co.uk

SENIOR BANKNOTE SPECIALIST BARNABY FAULL barnaby@noonans.co.uk

SENIOR BANKNOTE SPECIALIST MICHAEL O’GRADY michaelogrady@noonans.co.uk

BANKNOTE SPECIALIST TED EDMUNDS ted@noonans.co.uk

NOONANS MAYFAIR • 16 BOLTON STREET MAYFAIR LONDON UK W1J 8BQ • WWW.NOONANS.CO.UK

B A NKNOT E S

MOROCCO

P ROT E C TO RAT D E L A F RA NCE

1

PROTECTORAT DE LA FRANCE, MOROCCO , 25 Centimes,

October 1919, serial number 538612, without No. and without series letter, in PMG holder 64 EPQ, choice uncirculated, scarce, and a lovely grade for type

BNB B103a1, Pick 4a

£200-£260

2

PROTECTORAT DE LA FRANCE, MOROCCO , 25 Centimes, October 1919, serial number 458570, with No, series D, previously mounted, in PMG holder 63, choice uncirculated, scarce BNB B103a3, Pick 4a

3

MOROCCO

PROTECTORAT DE LA FRANCE, MOROCCO , 50 Centimes, October 1919, serial number 799683, without No., series C, in PMG holder 66 EPQ, gem uncirculated, wonderful grade for type BNB B104a1, Pick 5c

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£400-£500

£150-£200

B A NKNOT E S

4

6

PROTECTORAT DE LA FRANCE, MOROCCO , 50 Centimes,

October 1919, serial number 300132, with No, series C, in PMG holder 53 EPQ, about uncirculated, very scarce

PROTECTORAT DE LA FRANCE, MOROCCO , 1 Franc, October 1919, serial number 952200, with No, series H, mounting traces, in PMG holder 55, choice uncirculated

BNB B104a2, Pick 5c

BNB B105b2, Pick 6b

£200-£260

5

PROTECTORAT DE LA FRANCE, MOROCCO , 1 Franc,

October 1919, serial number 693723, with No, series K, in PMG holder 65 EPQ, gem uncirculated, the single finest on the PMG population report, a superb example

BNB B105b2, Pick 6b

£300-£400

£150-£200

7

PROTECTORAT DE LA FRANCE, MOROCCO , 2 Francs, October 1919, serial number 763634, with No., series B, in PMG holder 55 EPQ, about uncirculated, scarce, and well above average for type BNB B106a2, Pick 7a

£300-£400

MOROCCO

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

B AN Q U E D ’ E TAT D U M A RO C A BE AUT IFUL S P E CI M E N FO R THE R AR E 4 R I A L S O F 1 9 1 7

MOROCCO

8

BANQUE D’ETAT DU MAROC , specimen 4 Rials = 40 Francs, 31 February 1917, serial number O.000 000, El Mokri, Gauran, and Derville signatures, in PMG holder 55 EPQ, about uncirculated, extremely rare in any form, and one of only two Moroccan notes denominated in Rials, superb BNB B201as, Pick 1s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£6,000-£8,000

B A NKNOT E S

AN IN CRE DIBLY RARE I SSUE D E X AM PL E O F THE 4 R I A L S O F 1 9 1 7

9

BNB B201a, Pick 1

£3,000-£4,000

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

MOROCCO

BANQUE D’ETAT DU MAROC , 4 Rials = 40 Francs, 5 July 1917, serial number Y.4 571, El Mokri, Gauran, and Derville signatures, extremely minor tape repair, rust and pinholes, however totally original paper, in PMG holder 15, choice fine, one of only a handful of graded examples and an extremely rare note in any condition

B A NKNOT E S MOROCCO

A GLORIOUS E XAMPL E O F A FUL LY- I SSUE D 2 0 R I AL S O F 1 9 1 0 A KE Y NOT E FO R AL L CO L L E C TO R S O F M O RO CCO

10

BANQUE D’ETAT DU MAROC , 20 Rials = 100 Francs, 18 July 1910, serial number F.3 625, El Mokri, Gauran, and Demachy signatures, pinholes, stains, and minor rust, completely original paper, in PMG holder 25, very fine, excessively rare and even more wonderful without the usual unsightly cancellation stamps and holes, one of the great gems of the George Kanaan Collection BNB B202a, Pick 2 All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£12,000-£16,000

B A NKNOT E S

A RARE AND AT TR AC TI VE 5 FR AN CS O F 1 9 2 1

11

BANQUE D’ETAT DU MAROC , 5 Francs, ND (1921), serial number S.117 910, El Mokri, Gauran, and Dervile signatures, small tear, in PMG holder 63, choice uncirculated, an extremely scarce type and this example near the top of the PMG population report, the first of two signatures for type BNB B203a, Pick 8

£1,000-£1,500

BANQUE D’ETAT DU MAROC , 5 Francs, ND (1921), serial number S.321 394, El Mokri, Rengnet, and Dervile signatures, in PMG holder 53, about uncirculated, the second of two signatures for type, a very scarce note BNB B203b, Pick 8

£600-£800 All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

MOROCCO

12

B A NKNOT E S

13

BANQUE D’ETAT DU MAROC , 5 Francs, ND (1924), serial

number C.4201 400, Guessous, Desoubry, and Moreau signatures, minor stains, in PMG holder 53, about uncirculated

BNB B204e, Pick 9

£150-£200

15

BANQUE D’ETAT DU MAROC , specimen 5 Francs, ND (1941), without serial number, Guessous, Bapst, and Moreau signatures, perforated SPECIMEN, staple holes, in PMG holder 53, about uncirculated, a curious case of a specimen produced with signatures that never featured on the issued note BNB B205s, Pick 23As

14

BANQUE D’ETAT DU MAROC , 5 Francs (2), ND (1924), serial

numbers Y.4110 101 and P.3918 035, first Moreaum signature, second Cambon signature, first in PMG holder 35, choice very fine, second ungraded, very good (2 notes)

BNB B204d,e, Pick 9

£100-£150

16

BANQUE D’ETAT DU MAROC , 5 Francs (2), first 1 August 1922 (1941), serial number P.19 942, El Mokri, Rengnet, and Derville signatures, second 14 November 1941, serial number O.622 898, Guessous, Desoubry, and Moreau signatures, first in PMG holder 58 EPQ, choice about uncirculated, second very fine (2 notes)

MOROCCO

BNB B205a,b, Pick 23Aa,b

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£180-£240

£100-£150

V B A NKNOT E S

AN E X TRE M E LY R AR E SPE CI M E N 1 0 FR AN CS

17

BANQUE D’ETAT DU MAROC , specimen 10 Francs, ND (1920-28), serial number O.00 000, El Mokri, Gauran, and Derville signatures, perforated SPECIMEN, in PMG holder 45, choice extremely fine, very rare as a specimen, with no others on the PMG population report, a superb note BNB B206as, Pick 11s

£500-£700

18

BANQUE D’ETAT DU MAROC , obverse proof 10 Francs, ND (1929-42), serial number O.00 000, in PMG holder 67 EPQ, superb gem uncirculated, spectacular grade and a beautiful design £240-£300

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

MOROCCO

BNB B207p1, Pick 17p

B A NKNOT E S

A B E AUTIFUL PA I R O F 2 0 FR A N C PRO O FS

19

BANQUE D’ETAT DU MAROC , obverse and reverse uniface proofs for 20 Francs, ND (1920), serial number O.0 000, El Mokri, Gauran, and Derville signatures, in PMG holders 65 EPQ, gem uncirculated, and 58 EPQ, choice about uncirculated, a wonderful pair of proofs for this beautiful design (2 notes)

MOROCCO

BNB B208p, Pick 12p1,p2

£400-£500

B A NKNOT E S

20

BANQUE D’ETAT DU MAROC , 20 Francs, 25 May 1920, serial number Q.147 227, El Mokri, Gauran, and Derville signatures, pinholes, in PMG holder 25, very fine, rare, and an attractive example of a very early date for type BNB B208a, Pick 12

£200-£260

A 20 FRANCS O F 1 9 2 4 I N UN USUA L LY HI G H G R A D E

21

BANQUE D’ETAT DU MAROC , 20 Francs, 30 June 1924, serial number S.287 767, El Mokri, Rengnet, and Derville signatures, pinholes, minor rust, in PMG holder 53, about uncirculated, only a single example in higher grade on the PMG population report, a superb note £700-£900

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

MOROCCO

BNB B208b, Pick 12

B A NKNOT E S

22

BANQUE D’ETAT DU MAROC , 20 Francs, 12 June 1929, serial

number S.732 843, El Mokri, Desoubry, and Cambon signatures, rust, pinholes, in PMG holder 53, about uncirculated, first date for type and in extremely nice grade, with only a handful graded higher by PMG

BNB B209a, Pick 18a

£150-£200

24

BANQUE D’ETAT DU MAROC , 20 Francs (2), 6 March 1941 and 14 November 1941, serial numbers N.1245 875 and V.1367 255, Guessous, Desoubry, and Moreau signatures, first with small tear, second previously mounted, in PMG holders 30, very fine, and 45, choice extremely fine, both dates for this signature (2 notes) BNB B209c, Pick 18b

25

23

BANQUE D’ETAT DU MAROC , 20 Francs (2), 2 December

1931, consecutive serial numbers F.1047 255-6, Guessous, Desoubry, and Cambon signatures, pinholes, minor stains, in PMG holders 45, choice extremely fine, lovely examples in nice grades, unusual to find a pair (2 notes)

£200-£260

MOROCCO

BNB B209b, Pick 18a

£120-£160

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

BANQUE D’ETAT DU MAROC , 20 Francs, 14 November 1941, serial number L.1329 280, Guessous, Desoubry, and Moreau signatures, in PMG holder 55, about uncirculated BNB B209c, Pick 18b

£150-£200

B A NKNOT E S

26

BANQUE D’ETAT DU MAROC , 20 Francs, 14 November 1941,

serial number J.1305 813, Guessous, Desoubry, and Moreau signatures, in PMG holder 53, about uncirculated

BNB B209c, Pick 18b

£150-£200

29

BANQUE D’ETAT DU MAROC , 20 Francs (2), first 9 September 1942, serial number Z.1438 590, Guessous, Bapst, and Moreau signatures, second 1 March 1945, serial number C.1533 644, Guessous, Spitzer, and Oudot signatures, in PMG holders 35 and 45 EPQ, choice very fine and choice extremely fine, the last two signatures for issue (2 notes) BNB B209d,e, Pick 18b

£150-£200

27

BANQUE D’ETAT DU MAROC , specimen 20 Francs, ND (1942), serial number O.00 000, Guessous, Bapst, and Moreau signatures, perforated SPECIMEN, stains, in PMG holder 55, about uncirculated, rare BNB B209ds, Pick 18bs

£400-£500

30

BANQUE D’ETAT DU MAROC , 20 Francs, 1 March 1945, serial number W.1494 061, Guessous, Spitzer, and Oudot signatures, in PMG holder 58, choice about uncirculated BNB B209e, Pick 18b

£150-£200

MOROCCO

28

BANQUE D’ETAT DU MAROC , 20 Francs, 9 November 1942, serial number U.1472 320, Guessous, Bapst, and Moreau signatures, in PMG holder 58, choice about uncirculated BNB B209d, Pick 18b

£150-£200 All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A R A R E 5 0 FR A N CS O F 1 9 2 8

31

BANQUE D’ETAT DU MAROC , 50 Francs, 1 July 1928, serial number O.358 245, El Mokri, Desoubry, and Cambon signatures, pinholes, in PMG holder 25, very fine, a very rare variety in any condition BNB B210d, Pick 13

£500-£700

33

BANQUE D’ETAT DU MAROC , 50 Francs, 17 November 1932, serial number V.616 592, Guessous, Desoubry, and Moreau signatures, pinholes and minor edge tear, overall good fine to about very fine, scarce

32

BANQUE D’ETAT DU MAROC , obverse uniface proof 50 Francs, ND (1929-32), without serial number, in PMG holder 67 EPQ, superb gem uncirculated, a wonderful design in spectacular grade, very rare £400-£500

MOROCCO

BNB B211p, Pick 19p1

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

BNB B211b, Pick 19

£150-£200

B A NKNOT E S

34

BANQUE D’ETAT DU MAROC , 50 Francs, 6 March 1941, serial

number U.520 846, Guessous, Desoubry, and Moreau signatures, in PMG holder 55, about uncirculated

BNB B212b, Pick 21

£100-£150

35

BANQUE D’ETAT DU MAROC , specimen 50 Francs, ND (1942), serial number O.000 000, Guessous, Bapst, and Oudot signatures, perforated SPECIMEN, in PMG holder 53, about uncirculated, very rare and lacking the usual unattractive SPECIMEN stamps BNB B212cs, Pick 21s

£500-£700

36

BANQUE D’ETAT DU MAROC , 50 Francs, 28 October 1947, serial number F.2527 157, Guessous, Spitzer, and Oudot signatures, in PMG holder 58, choice about uncirculated BNB B212d, Pick 21

£100-£150

MOROCCO

B A NKNOT E S

AN IN CRE DIBLY-S TRIKIN G B RI G HT R E D SPE CI M E N FO R THE 1 0 0 FR AN CS O F 1 9 1 9

MOROCCO

37

BANQUE D’ETAT DU MAROC , specimen 100 Francs, ND (1919-22), serial number O.00 000, El Mokri, Gauran, and Derville signatures, perforated SPECIMEN, specimen number 106 stamped at right, in PMG holder 53 EPQ, about uncirculated, only four examples graded by PMG, of which some are less attractive specimen varieties, extremely rare, and a truly striking design in a wonderful colour BNB B213as, Pick 14s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£1,500-£2,000

B A NKNOT E S

A LOVELY IS S UE D E X AM PL E O F THE 1 0 0 FR AN CS O F 1 9 2 6

38

BANQUE D’ETAT DU MAROC , 100 Francs, 1 April 1926, serial number H.185 933, El Mokri, Rengnet, and

Cambon signatures, rust, tears and pinholes, but original paper, in PMG holder 25, very fine and very scarce regardless of grade, with only a handful graded higher than this by PMG

BNB B213c, Pick 14

£700-£900

40

39

BANQUE D’ETAT DU MAROC , specimen 100 Francs, ND (1928-30), serial number O.0 000, El Mokri, Desoubry, and Cambon signatures, in PMG holder 63 EPQ, choice uncirculated, a superb example of a beautiful note BNB B214as, Pick 20s

BANQUE D’ETAT DU MAROC , 100 Francs, 14 May 1941, serial number K.972 291, Guessous, Desoubry, and Moreau signatures, minor rust, in PMG holder 25, very fine BNB B214c, Pick 20

£70-£90

£300-£400

MOROCCO

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

41

(1945-47), serial number O.000 000, Guessous, Spitzer, and Oudot signatures, perforated SPECIMEN, stains, in PMG holder 58, choice about uncirculated

BANQUE D’ETAT DU MAROC , specimen 500 Francs, ND (1946-48), serial number O.00 000, Guessous, Spitzer, and Oudot signatures, perforated SPECIMEN, in PMG holder 40, extremely fine, very rare as a specimen and only one in higher grade on the PMG population report

BNB B214ds, Pick 20s

BNB B215fs, Pick 15bs

£220-£280

BANQUE D’ETAT DU MAROC , 100 Francs, 1 March 1945, serial number O.1517 195, Guessous, Spitzer, and Oudot signatures, in PMG holder 55, about uncirculated, very scarce in high grade, an excellent example BNB B214d, Pick 20

£500-£700

44

42

MOROCCO

43

BANQUE D’ETAT DU MAROC , specimen 100 Francs, ND

BANQUE D’ETAT DU MAROC , 500 Francs, 10 November 1948, serial number P.479 381, Guessous, Spitzer, and Oudot signatures, in PMG holder 65 EPQ, gem uncirculated BNB B215f, Pick 15b

£300-£400

£500-£700

45

BANQUE D’ETAT DU MAROC , 1000 Francs, 1 February 1921, serial number X.13 814, El Mokri, Gauran, and Derville signatures, rust, pinholes, in PMG holder 25, very fine, an extremely rare early date, this is the joint-finest and one of only four in total on the PMG population report BNB B216a, Pick 16a

£500-£700

B A NKNOT E S

A WONDERFUL MATCHING SPECIMEN AND ISSUED NOTE FOR THE 1000 FRANCS OF 1945

46

BANQUE D’ETAT DU MAROC , specimen 1000 Francs, ND (1945-50), serial number O.000 000, Guessous, Spitzer, and Oudot signatures, perforated SPECIMEN, in PMG holder 63, choice uncirculated, very scarce and in wonderful grade BNB B216es, Pick 16cs

£700-£900

47

BNB B216e, Pick 16c

£700-£900

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

MOROCCO

BANQUE D’ETAT DU MAROC , 1000 Francs, 21 December 1945, serial number T.448 932, Guessous, Spitzer, and Oudot signatures, in PMG holder 58, choice about uncirculated, only two graded higher by PMG, very scare in this grade

B A NKNOT E S

49

BANQUE D’ETAT DU MAROC , 5000 Francs, serial number J.441 878, Guessous, Spitzer, and Oudot signatures, light stains, otherwise very fine

48

BANQUE D’ETAT DU MAROC , 5000 Francs, 6 September 1949, serial number E.210 822, Guessous, Spitzer, and Oudot signatures, minor foreign substance, in PMG holder 25, very fine, scarce BNB B217c, Pick 23c

BNB B217c, Pick 23c

£120-£160

£150-£200

50

BANQUE D’ETAT DU MAROC , specimen 5 Francs, 1 August 1943, serial number 0000923, red SPECIMEN handstamps, also issued examples (2) of the same note, serial numbers 18776274 and 5248636, also 50 Francs, 1 March 1944, serial number P595 488, first previously mounted, in PMG holder 63, choice uncirculated, second and third about uncirculated and good fine respectively, last original very fine (4 notes)

MOROCCO

BNB B218as,a, B220b, Pick 24s, 24a, 26

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£200-£260

B A NKNOT E S

UN IQUE AN D LOVE LY E SSAYS FO R THE 1 0 FR AN CS O F 1 9 4 2

51

BNB B219 and Pick 25 for type

£800-£1,000

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

MOROCCO

BANQUE D’ETAT DU MAROC , partially hand-painted composite essays by the New York firm E.A.Wright, showing the original designs for the obverse and reverse of 10 Francs, 28 November 1942, serial number A1 000, Guessous, Desoubry, and Moreau signatures, with each essay offering two different colour options in one design, the reverse with one small design piece missing, in PMG holders 63 and 62, choice uncirculated and uncirculated, unique, and the only essay the cataloguer has ever seen by this printing firm, remarkable and important (2 notes)

B A NKNOT E S

52

BANQUE D’ETAT DU MAROC , 10 Francs, 1 May 1943, serial

number Y142 845, Guessous, Desoubry, and Moreau signatures, in PMG holder 66 EPQ, gem uncirculated

BNB B219a, Pick 25

£100-£150

54

BANQUE D’ETAT DU MAROC , specimen 50 Francs, 1 August 1943, serial number A1 0000, Guessous, Bapst, and de Castelbajac signatures, red SPECIMEN overprints, in PMG holder 64, choice uncirculated, very scarce BNB B220as, Pick 26s

53

£260-£320

55

BANQUE D’ETAT DU MAROC , specimen 10 Francs, 1 August

1943, without serial number, Guessous, Bapst, and de Castelbajac signatures, red SPECIMEN overprints, in PMG holder 64, choice uncirculated, scarce

BANQUE D’ETAT DU MAROC , remainder 50 Francs, 1 March 1944, without serial number, Guessous, Leclerc, and de Castelbajac signatures, in PMG holder 63 EPQ, choice uncirculated, very few remainders graded by PMG, scarce

BNB B219bs, Pick 25s

BNB B220br, Pick 26r

MOROCCO

£120-£160

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£120-£160

B A NKNOT E S

58

56

BANQUE D’ETAT DU MAROC , remainder 50 Francs, 1 March 1944, without serial number, Guessous, Leclerc, and de Castelbajac signatures, in PMG holder 53, about uncirculated, very few remainders graded by PMG, scarce BNB B220br, Pick 26r

BNB B221cs2, Pick 27s

£200-£260

£100-£150

59

57

BANQUE D’ETAT DU MAROC , specimen 100 Francs, 1 May

1943, serial number A1 000, Guessous, Desoubry, and Moreau signatures, in PMG holder 64, choice uncirculated

BNB B221as, Pick 27s

BANQUE D’ETAT DU MAROC , specimen 100 Francs, 1 March 1944, without serial number, Guessous, Leclerc, and de Castelbajac signatures, multiple red SPECIMEN handstamps, printer’s annotation, in PMG holder 64 EPQ, choice uncirculated

£200-£260

BANQUE D’ETAT DU MAROC , obverse and reverse uniface proofs for 100 Francs, 1 March 1944, without serial numbers, Guessous, Leclerc, and de Castelbajac signatures, the reverse with staple holes, in PMG holders 65 EPQ and 64, gem/choice uncirculated, rare and attractive (2 notes) BNB B221cp, Pick 27p

£200-£260

PMG have incorrectly termed these ‘partially printed remainders’ but they are self-evidently archival proofs.

MOROCCO

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

61

BANQUE D’ETAT DU MAROC , obverse and reverse proofs for 1000 Francs, obverse dated 1 May 1943, without serial number, reverse with Guessous, Bapst, and Moreau signatures, previously mounted, in PMG holders 64, choice uncirculated (2 notes) BNB B222ap, Pick 28p

£300-£400

Interestingly, the date on the obverse does not match the signatures on the reverse, which were used on the August 1943 issue instead.

60

BANQUE D’ETAT DU MAROC , complete obverse and reverse stage proofs for the obverse (8) and reverse (8) of 100 Francs, 1 March 1944, without serial numbers, Guessous, Leclerc, and de Castelbajac signatures, with separate proofs showing the blue, yellow, and red layers, the combined red and yellow layers, the combination of all three colours, one sheet for the blue line-work, and one showing the combination of all of the above, along with one more showing the green top-print, generally about uncirculated to uncirculated, a superb set of archival proofs (16 notes) BNB B221cp, Pick 27p

£200-£260

62

BANQUE D’ETAT DU MAROC , specimen 1000 Francs, 1 May 1943, serial number W.1 982, Guessous, Desoubry, and Moreau signatures, black SPECIMEN overprints, perforated with multiple zeros, previously mounted, corner tip missing, in PMG holder 55, about uncirculated, very scarce

MOROCCO

BNB B222as, Pick 28s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£400-£500

B A NKNOT E S

63

BANQUE D’ETAT DU MAROC , 1000 Francs, 1 August 1943, serial number V.178 451, Guessous, Bapst, and de Castelbajac signatures, in PMG holder 25, very fine, an attractive example with nice original paper, and almost impossible to find in grades above very fine BNB B222b, Pick 28

£240-£300

64

BANQUE D’ETAT DU MAROC , specimen 1000 Francs, 1 March 1944, serial number A.201 000, Guessous, Leclerc, and de Castelbajac signatures, small red SPECIMEN overprints, three small cancellation holes, in PMG holder 63 EPQ, choice uncirculated, a lovely example of this final date of issue BNB B222cs, Pick 28s

£500-£700

MOROCCO

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

RARE P ROOFS FO R THE 5 0 0 0 FR A N CS O F 1 9 4 3

65

BANQUE D’ETAT DU MAROC , obverse and reverse proofs for 5000 Francs, obverse dated 1 August 1943, without serial number, reverse with Guessous, Bapst, and Moreau signatures, obverse previously mounted, in PMG holders 64, choice uncirculated, extremely rare and indeed the only proofs on the PMG population report (2 notes)

MOROCCO

BNB B223ap, Pick 32p

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£1,000-£1,500

B A NKNOT E S

A S P E CIME N FOR T HE 500 0 FR A N CS O F 1 9 4 3 I N I N CR E D I B L E CO N D I TI O N

66

BANQUE D’ETAT DU MAROC , specimen 5000 Francs, 1 August 1943, serial number A.1 000, Guessous, Bapst, and de Castelbajac signatures, small red SPECIMEN overprints, three small cancellation holes, in PMG holder 65 EPQ, gem uncirculated, scarce BNB B223as, Pick 32s

£1,500-£2,000

MOROCCO

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A S C ARCE I SSUE D 5 0 0 0 FR A N CS O F 1 9 4 3

67

BANQUE D’ETAT DU MAROC , 5000 Francs, 1 August 1943, serial number T.12 545, Guessous, Bapst, and de Castelbajac signatures, minor thinning, in PMG holder 25, very fine, scarce in any grade, and in fact only six are graded higher by PMG, none of which are above grade 30

MOROCCO

BNB B223a, Pick 32

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£1,000-£1,500

B A NKNOT E S

68

BANQUE D’ETAT DU MAROC , specimen 5 Francs, 14 August 1943, serial number W.001 118, also issued examples (2), serial numbers A.858 045 and L.446 091, Guessous, Bapst, and de Castelbajac signatures, first with pinholes, in PMG holder 58, choice about uncirculated, one other uncirculated, last about uncirculated (3 notes) BNB B224as, B224a, Pick 33s, 33

£300-£400

69

BANQUE D’ETAT DU MAROC , 20 Francs (2), ND (1943), serial numbers Y.268 396 and V.006 105, Guessous, Bapst, and Desoubry signatures, first in PMG holder 40 EPQ, extremely fine, with not a great many graded higher, let alone with EPQ, second very good to fine (2 notes) BNB B225a, Pick 39

£120-£160

MOROCCO

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A RARE S P ECI M E N FO R THE 5 0 FR AN CS O F 1 9 4 3

70

BANQUE D’ETAT DU MAROC , specimen 50 Francs, ND (1943), serial number 000 017, Guessous, Bapst, and Desoubry signatures, red SPECIMEN overprint, pinholes, in PMG holder 53, about uncirculated, rare, and an attractive example BNB B226as, Pick 40s

£700-£900

MOROCCO

71

BANQUE D’ETAT DU MAROC , 50 Francs, 2 December 1949,

serial number A.18 90138, Guessous, Spitzer, and Oudot signatures, in PMG holder 58 EPQ, choice about uncirculated

BNB B227a, Pick 44

£100-£150

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

72

BANQUE D’ETAT DU MAROC , specimen 100 Francs, 10 November 1948, serial number A.1 00083, Guessous, Spitzer, and Oudot signatures, black SPECIMEN handstamps pinholes, in PMG holder 58, choice about uncirculated, very scarce BNB B228as, Pick 45s

£300-£400

B A NKNOT E S

73

75

BANQUE D’ETAT DU MAROC , 100 Francs (2), 9 January

1950 and 19 April 1951, serial numbers B.15 76865 and V.42 96879, Guessous, Spitzer, and Oudot signatures, first in PMG holder 58 EPQ, choice about uncirculated, second original extremely fine (2 notes)

BANQUE D’ETAT DU MAROC , 100 Francs, 22 December 1952, serial number M.57 09364, Guessous, Spitzer, and Oudot signatures, in PMG holder 65 EPQ, gem uncirculated, only a few graded higher by PMG, thus scarce

BNB B228a, Pick 45

BNB B228a, Pick 45

£100-£150

74

BANQUE D’ETAT DU MAROC , 100 Francs, 19 April 1951, serial

number K.47 25531, Guessous, Spitzer, and Oudot signatures, in PMG holder 64 EPQ, choice uncirculated

BNB B228a, Pick 45

£150-£200

£200-£260

76

BANQUE D’ETAT DU MAROC , 100 Francs (2), 22 December 1952, consecutive serial numbers X.56 89449-50, Guessous, Spitzer, and Oudot signatures, in PMG holders 64 EPQ and 63 EPQ, choice uncirculated (2 notes) BNB B228a, Pick 45

£240-£300

MOROCCO

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

77

BANQUE D’ETAT DU MAROC , specimen 500 Francs, ND (1949-58), serial number O.000 00000, Guessous, Spitzer, and Oudot signatures, perforated SPECIMEN, in PMG holder 66 EPQ, gem uncirculated, rare and very attractive BNB B229as2, Pick 46s

78

BANQUE D’ETAT DU MAROC , 500 Francs, 19 December 1956, serial number M.18 51307, Guessous, Spitzer, and Deray signatures, minor rust stains, in PMG holder 35, choice very fine BNB B229b, Pick 46

£80-£100

£300-£400

A S P E CIME N FOR THE B E AUTI FUL 1 0 0 0 FR AN CS O F 1 9 5 1

MOROCCO

79

BANQUE D’ETAT DU MAROC , specimen 1000 Francs, ND (1951-58), serial number O.000 00000, Guessous, Spitzer, and Oudot signatures, one small stain at centre, in PMG holder 63, choice uncirculated, scarce and a lovely design BNB B230as, Pick 47s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£500-£700

B A NKNOT E S

80

81

BANQUE D’ETAT DU MAROC , 1000 Francs, 10 December

1952, serial number X.17 54946, Guessous, Spitzer, and Oudot signatures, in PMG holder 35 EPQ, choice very fine

BANQUE D’ETAT DU MAROC , 1000 Francs, 15 November 1956, serial number E.22 30398, Guessous, Spitzer, and Deray signatures, in PMG holder 53, about uncirculated

BNB B230a, Pick 47

BNB B230b, Pick 47

£120-£160

£200-£260

82

BANQUE D’ETAT DU MAROC , 5000 Francs, 23 July 1953, serial number B.275 640, Guessous, Spitzer, and Oudot signatures, in PMG holder 35, choice very fine, a scarce note with not many in higher grades on the PMG population report BNB B231a, Pick 49

£200-£260

MOROCCO

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

AN IN TERE S T ING S P E CI M E N FO R THE 1 0 , 0 0 0 FR A N CS O F 1 9 5 3 , WITH A SUR PR I SI N G R E VE R SE

83

MOROCCO

BANQUE D’ETAT DU MAROC , specimen 10,000 Francs, ND (1953-55), serial number O.00 000, Guessous, Spitzer, and Outot signatures, in PMG holder 65 EPQ, gem uncirculated, the finest graded by PMG, a fantastic note with a gloriouslydesigned and engraved aerial view of Casablanca, spectacular!

BNB B232as, Pick 50s

£600-£800

A very strange feature of this note is that the reverse has the overprint ‘Cent Dirhams’at lower centre, but not the overprint in the watermark area that would usually accompany such a feature. Even more strangely, the obverse remains entirely unchanged from the usual 10,000 Francs.

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A GLORIOUS E S S AY FO R THE UN I SSUE D 5 0 0 FR AN CS O F 1 9 5 1

84

BANQUE D’ETAT DU MAROC , partially hand-painted composite essay showing the original design for the obverse of the unissued 500 Francs, 29 May 1951, serial number A0 00000, backed on card that has minor issues not affecting note, in PMG holder 65 EPQ, gem uncirculated, unique, superbly painted and produced, with several differences from the note that was almost issued BNB B233 and Pick 45A for type

£800-£1,000

A S C ARCE 1 9 5 1 5 0 0 FR A N C SPE CI M E N

BANQUE D’ETAT DU MAROC , specimen 500 Francs, 29 May 1951, serial number A1 00000, Guessous, Spitzer, and Oudot signatures, black De La Rue oval, specimen number 14, previously mounted, in PMG holder 63, choice uncirculated, rare BNB B234as, Pick 45Bs

£500-£700

MOROCCO

85

B A NKNOT E S

A RARE S P EC I M E N O F THE 1 9 5 1 1 0 0 0 FR A N CS

86

BANQUE D’ETAT DU MAROC , specimen 1000 Francs, 29 May 1951, serial number A1 00000, Guessous, Spitzer, and Oudot signatures, red SPECIMEN overprints, black De La Rue oval, specimen number 61, previously mounted, in PMG holder 63, choice uncirculated, rare BNB B235as, Pick 46As

£500-£700

MOROCCO

A GROUP OF SPECIMEN AND ISSUED NOTES FROM THE 1959 OVERPRINTED ISSUES

87

BANQUE D’ETAT DU MAROC , specimen 50 Dirhams on 5000 Francs, ND (1959), serial number O.00 000, Guessous, Spitzer, and Oudot signatures, perforated SPECIMEN, annotations in lower margin, in PMG holder 64 EPQ, choice uncirculated, rare and lovely BNB B237as, Pick 51s All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£700-£900

B A NKNOT E S

88

BANQUE D’ETAT DU MAROC , 50 Dirhams on 5000 Francs, 23 July 1953 (1959), serial number R.468 941, Guessous, Spitzer, and Oudot signatures, in PMG holder 58 EPQ, choice about uncirculated, a beautiful note in lovely original condition BNB B237a, Pick 51

£700-£900

BANQUE D’ETAT DU MAROC , 50 Dirhams on 5000 Francs, 23 July 1953 (1959), serial number B.560 599, Guessous, Spitzer, and Oudot signatures, in PMG holder 58, choice about uncirculated BNB B237a, Pick 51

£600-£800

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

MOROCCO

89

B A NKNOT E S

92

BANQUE DU MAROC , 5 Dirhams, 1966, serial number N.27

90

BANQUE D’ETAT DU MAROC , 100 Dirhams on 10,000 Francs, 28 April 1955 (1959), serial number A.1241 535, Guessous, Spitzer, and Oudot signatures, in PMG holder 45 EPQ, choice extremely fine BNB B238a, Pick 52

43614, Lemniai and Slaovi signatures, in PMG holder 65 EPQ, gem uncirculated, only a handful in higher grades on the PMG population report

BNB B401d, Pick 53d

£200-£260

£200-£260

B AN Q UE D U MAROC

91

93

W.13 24067, Tahiri and Zeghari signatures, in PMG holder 58 EPQ, choice about uncirculated

22181, 1968, serial number P.32 39080 and ND (1963), serial number N.19 92357, first in PMG holder 40, extremely fine, others original very fine (3 notes)

BANQUE DU MAROC , 5 Dirhams, ND (1960), serial number

£100-£150

MOROCCO

BNB B401a, Pick 53a

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

BANQUE DU MAROC , 5 Dirhams (3), 1969, serial number R.42

BNB B401f,b,e, Pick 53f,b,e

£100-£150

B A NKNOT E S

94

BANQUE DU MAROC , specimen 10 Dirhams, ND (1960), serial number O.00

00000, specimen number 0300, Tahiri and Zeghari signatures, minor repairs, in PMG holder 63, choice uncirculated, very scarce with only four examples on the PMG population report

BNB B402as, Pick 54s

£300-£400

95

96

numbers B.3 82175 and R.6 69446, Tahiri and Zeghari signatures, in PMG holders 58 and 55, choice/about uncirculated

Z.36 79896, 1968, serial number A.47 91647 and 1969, serial number L.62 86793, first two in PMG holders 55 EPQ, and 58 EPQ, choice/about uncirculated, last very fine (3 notes)

BANQUE DU MAROC , 10 Dirhams (2), ND (1960), serial

BNB B402a, Pick 54a

£120-£160

BANQUE DU MAROC , 10 Dirhams (3), 1965, serial number

BNB B402c-e, Pick 54c-e

£150-£200

MOROCCO

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A S C ARCE AN D AT TR AC TI VE 5 0 D I R HAM S

97

BANQUE DU MAROC , 50 Dirhams, 1965, serial number B.1 55432, Nani and Slaovi signatures, stains, in PMG holder 63, choice uncirculated, scarce and a classic design

MOROCCO

BNB B403a, Pick 55a

£600-£800

B A NKNOT E S

98

101

number A/86 000000, specimen number 012, El Mdaghri and El Alaovi signatures, red SPECIMEN overprints and De La Rue ovals, two cancellation holes, previously mounted, in PMG holder 64, choice uncirculated

C/1 000000, specimen number 074, El Mdaghri and El Alaovi signatures, red SPECIMEN overprints and De La Rue ovals, two cancellation holes, previously mounted, in PMG holder 64, choice uncirculated

BANQUE DU MAROC , specimen 5 Dirhams, 1970, serial

BNB B404as1, Pick 56s

£120-£160

99

BANQUE DU MAROC , specimen 50 Dirhams, 1970, serial number

BNB B406as1, Pick 58as

£150-£200

BANQUE DU MAROC , specimen 10 Dirhams, 1970, serial number

102

BNB B405as1, Pick 57as

number D/21 000000, specimen number 016, El Mdaghri and El Alaovi signatures, red SPECIMEN overprints and De La Rue ovals, two cancellation holes, previously mounted, in PMG holder 58, choice uncirculated

B/1 000000, specimen number 039, El Mdaghri and El Alaovi signatures, red SPECIMEN overprints and De La Rue ovals, two cancellation holes, thinning, in PMG holder 62, uncirculated

£150-£200

BANQUE DU MAROC , specimen 100 Dirhams, 1970, serial

BNB B407as1, Pick 59as

£120-£160

100

BANQUE DU MAROC , specimen 50 Dirhams, 1970, serial

BNB B406as1, Pick 58as

MOROCCO

number C/66 000000, specimen number 015, El Mdaghri and El Alaovi signatures, red SPECIMEN overprints and De La Rue ovals, two cancellation holes, in PMG holder 67 EPQ, superb gem uncirculated, exceptional grade for type

£300-£400 All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

103

BANQUE DU MAROC/BANK AL-MAGHRIB , a large group of modern notes comprising 5 (3), 10 (4), 50, and 100 Dirhams, 1970, 10 Dirhams, 1985, 10 (2), 50, and 100 Dirhams, 1987, 10, 20 (3), 50 (2), 100, and 200 Dirhams (2), 1996, 20, 50, 100, and 200 Dirhams, 2002-05, 50 Dirhams (4), 2009, two in presentation folders, serial numbers S01S002012 and S01S002013, 50 (2) and 100 Dirhams, 2012, polymer 20 Dirhams (3), 2019, 20, 50, 100, (2) and 200 (2) Dirhams, 2023, 1970 issue extremely fine to about uncirculated, others generally uncirculated (43 notes) BNB B404-B407, B501-B513, B516a-B517a, B519a, B520-B523, Pick 56-72, 75-76

£400-£500

B A NK A L- M AG H RI B

105

104

BANK AL-MAGHRIB , specimen 20 Dirhams, 2012, serial

number H00N000006, Safir and Jouahri signatures, red SPECIMEN overprint, with original presentation wallet, in PMG holder 66 EPQ, gem uncirculated, very rare, with only two other examples graded by PMG

£150-£200

MOROCCO

BNB B515as, Pick 74s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

BANK AL-MAGHRIB , specimen 50 Dirhams, 2012, serial

number H00N000034, Safir and Jouahri signatures, red SPECIMEN overprint, with original presentation wallet, in PMG holder 65 EPQ, gem uncirculated, very rare, with only three other examples graded by PMG

BNB B516as, Pick 75s

£150-£200

B A NKNOT E S

107

106

BANK AL-MAGHRIB , specimen 100 Dirhams, 2012, serial

number H00N000132, Safir and Jouahri signatures, red SPECIMEN overprint, with original presentation wallet, in PMG holder 66 EPQ, gem uncirculated, very rare, with only four other examples graded by PMG

BNB B517as, Pick 76s

£150-£200

BANK AL-MAGHRIB , specimen 200 Dirhams, 2012, serial

number H00N000134, Safir and Jouahri signatures, red SPECIMEN overprint, with original presentation wallet, in PMG holder 66 EPQ, gem uncirculated, very rare, the joint-finest of only a handful of other examples graded by PMG

BNB B518as, Pick 77s

£150-£200

STAT E B A NK O F T H E RI F F

108

STATE BANK OF THE RIFF , 1 Riffan = 10 Pence, 10 October

1923, serial number 276493, in PMG holder 55 EPQ, about uncirculated

BNB B101a, Pick R1

£240-£300

109

STATE BANK OF THE RIFF , 5 Riffans = 50 Pence, 10 October 1923, serial number 47127, stains, in PMG holder 58, choice about uncirculated

BNB B102a, Pick R2

£200-£260

MOROCCO

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

SERVI C ES M U NI CI PAU X , C A S A B L A NC A

112

SERVICES MUNICIPAUX, CASABLANCA, MOROCCO , 1 Franc, 1919, serial number 035361, with circular purple hand stamp on face, original paper, very fine and rare

110

SERVICES MUNICIPAUX, CASABLANCA, MOROCCO , 25

BNB unlisted, Pick unlisted

£200-£260

Centimes, ND (1919), serial number 058014, a few marks but overall uncirculated and rare, wonderful condition for type

BNB unlisted, Pick unlisted

£150-£200

113

SERVICES MUNICIPAUX, CASABLANCA, MOROCCO , 1 Franc, 1919, serial number 015999, small tear at central fold, several pinholes, fine and rare BNB unlisted, Pick unlisted

111

SERVICES MUNICIPAUX, CASABLANCA, MOROCCO , 25 Centimes, ND (1919), serial number 060138, also EMPIRE CHERIFIEN, 50 Centimes, 1944, without serial numbers, and a postcard showing the Banque d’Etat du Maroc building in Casablanca, with postmark dated 1925, first very fine, second uncirculated, last worn but not folded or damaged (3 items) £100-£150

MOROCCO

BNB unlisted, B301a, Pick unlisted, 41

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£120-£160

B A NKNOT E S

TANGI E R

SERVI C I O S M U NI CI PA LE S , TA NG I E R

115

114

SERVICIOS MUNICIPALES, TANGIER , 0.25 Francos, August

1941, serial number A186929, PMG states stains lightened, but this is simply rubbed-out pencil in the margins, in PMG holder 40, extremely fine, rare in any condition, and this example highly attractive for type

£800-£1,000

TA NGIER

BNB B101a, Pick 1, Schwan-Boling 101a

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

SERVICIOS MUNICIPALES, TANGIER , 0.50 Francos, March

1942, serial number B019117, repaired, in PMG holder 30, very fine, very scarce and presentable

BNB B102b, Pick 2, Schwan-Boling 102b

£600-£800

B A NKNOT E S

A PARTICUL AR LY SC ARCE 2 FR A N CO S

116

SERVICIOS MUNICIPALES, TANGIER , 2 Francos, August 1941, serial number A000313, repaired, in PMG holder 20 NET, very fine, a very rare type and a low number

BNB B104a, Pick 4, Schwan-Boling 104a

£1,200-£1,600

TA NGIER

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

117

118

JUNTA DE SERVICIOS MUNICIPALES, TANGIER , 0.25

Francos, October 1942, serial number C005243, in PMG holder 35 EPQ, choice very fine, rare with EPQ designation

JUNTA DE SERVICIOS MUNICIPALES, TANGIER , 1 Franco, October 1942, serial number C151146, stains, in PMG holder 25, very fine, very scarce

BNB B201a, Pick 1, Schwan-Boling 101c

BNB B203a, Pick 3, Schwan-Boling 103c

TA NGIER

£800-£1,000

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£600-£800

B A NKNOT E S

ALGE RI A B A NQ U E D E L’A LG E RI E AN E XCE SSI VE LY R A R E 5 FR A N CS O F 1 8 7 1

119

ALGERIA

BANQUE DE L’ALGERIE , cancelled 5 Francs, 10 February 1871, serial number O1 772, Saune and Delahaye signatures, large red ANNULE stamp and four large cancellation holes, one tiny tape repair due to split in central fold, internal tears and pinholes, in PMG holder 15, choice fine, extremely rare in any form and this example the first date of issue BNB B110a, Pick 14

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£5,000-£7,000

B A NKNOT E S

120

122

BANQUE DE L’ALGERIE , 5 Francs, 15 May 1915, serial number

E.588 554, Moyse and Biron signatures, previously mounted, in PMG holder 25, very fine, a scarcer early date

BANQUE DE L’ALGERIE , 5 Francs, 17 July 1918, serial number X.1555 842, Moyse and Biron signatures, repaired, pinholes, in PMG holder 20, very fine

BNB B117d, Pick 71a

BNB B117d, Pick 71b

£200-£260

121

£100-£150

123

BANQUE DE L’ALGERIE , 5 Francs, 16 March 1917, serial number

R.1148 861, Moyse and Biron signatures, pinholes, in PMG holder 25, very fine

BANQUE DE L’ALGERIE , 5 Francs, 8 October 1919, serial number N.1930 318, Moyse and Biron signatures, pinholes, in PMG holder 30, very fine, an attractive and original example

BNB B117d, Pick 71b

BNB B117d, Pick 71b

£200-£260

£240-£300

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

124

125

BANQUE DE L’ALGERIE , 5 Francs, 15 October 1920, serial

number X.2243 168, Moyse and Biron signatures, foreign substance (minor tape marks), pinholes, in PMG holder 30, very fine

BANQUE DE L’ALGERIE , 5 Francs, 16 February 1925, serial number A.3471 432, Moyse and Penalva signatures, pinholes, in PMG holder 25, very fine

BNB B117d, Pick 71b

BNB B117e, Pick 71b

£200-£260

£150-£200

AN IN CRE DIBLY RA R E PRO O F FO R THE 1 0 0 FR AN CS O F 1 9 0 1

126

ALGERIA

BANQUE DE L’ALGERIE , obverse proof 100 Francs, ND (1901-19), without serial numbers or signatures, in PMG holder 66 EPQ, gem uncirculated, the only example of a proof for this note ever graded by PMG, extremely rare and attractive BNB B120p, Pick 74p1

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£1,000-£1,500

B A NKNOT E S

A LOVELY PAI R O F I SSUE D 1 0 0 FR A N CS

127

BANQUE DE L’ALGERIE , 100 Francs, 3 October 1911, serial number F.242 285, Chenu, Moreau, and Pantin signatures, corner missing, pinholes, rust, stains, in PMG holder 20, very fine, original and overall quite attractive, nothing graded higher than very fine by PMG BNB B120c, Pick 74

£600-£800

128

BANQUE DE L’ALGERIE , 100 Francs, 5 March 1919, serial number U.348 296, Moyse, Moreau, and Biron signatures, corner reattached, repaired, stains, in PMG holder 12, fine £400-£500

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

ALGERIA

BNB B120d, Pick 74

B A NKNOT E S

A INCRE DIBL E PAIR O F PRO O FS FO R THE 5 0 0 FR A N CS O F 1 8 8 9

129

BANQUE DE L’ALGERIE , obverse proof on white paper for 500 Francs, ND (1889-1924), without serial number or signatures, in PMG holder 65 EPQ, gem uncirculated, one of only two proofs graded by PMG, the other being the next lot in this auction, thus extremely rare

ALGERIA

BNB B121p, Pick 75p1

£1,500-£2,000

B A NKNOT E S

130

BANQUE DE L’ALGERIE , obverse proof on pale green paper for 500 Francs, ND (1889-1924), without serial number or signatures, ESSAI SANS VALEUR stamped twice on reverse, in PMG holder 64 EPQ, choice uncirculated, extremely rare and attractive BNB B121p, Pick 75p1

£1,500-£2,000

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A B E AU TI FUL SPE CI M E N 5 0 0 FR AN CS

131

BANQUE DE L’ALGERIE , specimen 500 Francs, ND (1924), serial number O.00 000, Moyse, Moreau, and Penalva signatures, red SPECIMEN overprints, previously mounted, in PMG holder 53, about uncirculated, very rare, this being one of only two examples graded by PMG

ALGERIA

BNB B121es, Pick 75s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£1,500-£2,000

B A NKNOT E S

AN IS S UED 500 FRAN CS O F 1 9 2 4 I N WO N D E R FUL CO N D I TI O N

132

BANQUE DE L’ALGERIE , 500 Francs, 27 February 1924, serial number O.111 078, Moyse, Moreau, and Penalva signatures, pinholes, in PMG holder 53, about uncirculated, very rare, particularly in such spectacular grade, the joint-finest on the PMG population report BNB B121e, Pick 75b

£2,000-£2,600

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

133

BANQUE DE L’ALGERIE , 500 Francs, 1 March 1924, serial number J.114 468, Moyse, Moreau, and Penalva signatures, pinholes and splits, in PMG holder 25, very fine, scarce in any condition, this an original and attractive example BNB B121e, Pick 75b

£700-£900

TH E S OL E GRADE D E X A M PL E O F A PRO O F 1 0 0 0 FR A N CS O F 1 8 9 8

ALGERIA

134

BANQUE DE L’ALGERIE , obverse proof 1000 Francs, ND (1898-1926), without serial number or signatures, in PMG holder 65 EPQ, gem uncirculated, extremely rare, this being the only example graded by PMG, a wonderful proof with exceptional clarity of print BNB B122p, Pick 76p1 All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£1,800-£2,400

B A NKNOT E S

A WONDE RFUL Q UAL I TY 1 0 0 0 FR AN CS O F 1 9 2 4

135

BANQUE DE L’ALGERIE , 1000 Francs, 5 May 1924, serial number O.156 396, Moyse, Moreau, and Penalva signatures, pinholes, in PMG holder 30, very fine, scarce, and a beautiful example with clean and fresh paper BNB B122d, Pick 76b

£700-£900

136

137

BANQUE DE L’ALGERIE , specimen 5 Francs, ND (1925-33), serial

number O.0000 000, Moyse and Penalva signatures, red SPECIMEN overprints, in PMG holder 64 EPQ, choice uncirculated, the joint-finest of only three PMG-graded examples, very rare

BANQUE DE L’ALGERIE , 5 Francs, 15 January 1927, serial number O.1452 703, Moyse and Penalva signatures, mounting traces, annotations lightened (in this case, pencil has been partially-erased in upper margins), in PMG holder 63, choice uncirculated, a scarcer early date

BNB B123as, Pick 77s

BNB B123a, Pick 77a

£300-£400

£100-£150

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

138

BANQUE DE L’ALGERIE , a group of 5 Francs (6), 7 January 1926, 21 July 1926, 19 August 1926, 19 January 1928, 28 December 1928, and 2 July 1929, all with Moyse and Penalva signatures, several with pinholes, first three extremely fine, last three good very fine, a nice group of earlier dates (6 notes) BNB B123a, Pick 77a

£100-£150

141

BANQUE DE L’ALGERIE , 5 Francs (3), 27 July 1933 and 29 July 1933 (2), serial numbers K.4244 173 and consecutive T.4247 551-552, Moyse and Penalva signatures, first with minor rust and pinholes, in PMG holders 63, choice uncirculated, 58 EPQ and 58, choice about uncirculated (3 notes) BNB B123a, Pick 77a

142

139

BANQUE DE L’ALGERIE , 5 Francs, 28 July 1933, serial number

J.4246 680, Moyse and Penalva signatures, in PMG holder 64 EPQ, choice uncirculated, nice grade and paper quality for type

ALGERIA

BNB B123a, Pick 77a

£150-£200

£120-£160

BANQUE DE L’ALGERIE , a group of 5 Francs (4), 30 May 1933, 10 June 1933, 29 August 1933, and 5 October 1933, all with Moyse and Penalva signatures, second extremely fine, others very fine (4 notes) BNB B123a, Pick 77a

£60-£80

143

140

October 1933, serial numbers Y.4343 983 and J.4357 455, Moyse and Penalva signatures, pinholes, in PMG holders 64, choice uncirculated (2 notes)

BANQUE DE L’ALGERIE , 5 Francs, 10 January 1939, serial number B.4523 946, Archambaud and Penalva signatures, pinholes, in PMG holder 64, choice uncirculated, a significantly rarer signature variety that is not differentiated in Pick, and wonderful grade for type

BNB B123a, Pick 77a

BNB B123b, Pick 77a

BANQUE DE L’ALGERIE , 5 Francs (2), 26 September 1933 and 4

£150-£200

£150-£200

B A NKNOT E S

146

144

BANQUE DE L’ALGERIE , 5 Francs (4), 28 February 1941, 15 May 1941, and 3 June 1941 (2), Roux and Sebald signatures, in PMG holders 64, choice uncirculated, 50, 55, and 55, about uncirculated, second with small tear, the last two consecutive (4 notes) BNB B123d, Pick 77b

BANQUE DE L’ALGERIE , 5 Francs (12), all with different dates ranging from February to March 1941, Roux and Sebald signatures, around half nice original very fine, a few fine, others somewhere between the two, a nice group with several consecutive days of issue (12 notes) BNB B123d, Pick 77b

£150-£200

£150-£200

147

BANQUE DE L’ALGERIE , 5 Francs (16), all with different dates ranging from May to August 1941, Roux and Sebald signatures, around a third nice original very fine, a few fine, others somewhere between the two, a nice group of different dates (16 notes) BNB B123d, Pick 77b

£180-£240

145

BANQUE DE L’ALGERIE , 5 Francs (4), 1 August 1941, 8 August 1941, 20 August 1941, and 6 September 1941, Roux and Sebald signatures, first two with minor stains, in PMG holders 45, choice extremely fine, 63, 64, choice uncirculated, and 58, choice about uncirculated (4 notes) BNB B123d, Pick 77b

£150-£200

148

BANQUE DE L’ALGERIE , 5 Francs (15), all with almost entirely different dates in September 1941, Roux and Sebald signatures, around half nice original very fine, a few fine, others somewhere between the two, a nice group of mostly different dates (15 notes) £180-£240

ALGERIA

BNB B123d, Pick 77b

B A NKNOT E S

AN UN B E L I E VA B L E SURVI VO R AN IN TAC T B OOK OF ALGERIAN PRO O FS FRO M J UST B E FO R E THE FI R ST WO R L D WAR

ALGERIA

149

BANQUE DE L’ALGERIE , a large format (roughly A3) leather-bound book containing printer’s proofs, stage proofs, and photographs of the 20 and 50 Franc notes first issued in 1913-14, the album consists of the following: - Obverse (3) and reverse (2) photographs showing slightly alternative hand-painted designs for the 20 Francs - Stage proofs (5) for the obverse of 20 Francs - Complete proofs (2) for the obverse of 20 Francs, without signatures or serial numbers - Stage proofs (4) for the reverse of 20 Francs - Complete proof for the reverse of 20 Francs - Obverse (3) and reverse (3) photographs showing the original hand-painted, slightly different designs for the 50 Francs, with one reverse in very large format - Stage proofs (6) for the obverse of 50 Francs, three of which are almost complete, but lacking underprint - Complete proofs (3) for the obverse of 50 Francs, with many interesting printer’s annotations - Stage proofs (4) for the reverse of 50 Francs - Complete proof for the reverse of 50 Francs - Complete obverse and reverse proofs on watermarked paper, with signatures and serial numbers for 50 Francs, dated ‘33 February 1913’ each of the proofs is laid down on card pages, except the final pair which are taped into frames within the card pages, the book has several missing pages, the contents of which are unknown, but regardless this is probably a unique survivor as most such books were broken up decades ago, proofs of this kind are extremely rare, and the 50 Francs in purple is an almost impossible note to find any any format or any condition, an utterly exceptional item for the advanced collector (11 photographs, 28 proofs) BNB B124, B125 and Pick 78, 79 for types All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£7,000-£9,000

B A NKNOT E S ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

150

151

BANQUE DE L’ALGERIE , 20 Francs, 2 October 1914, serial

number H.229 684, Biron and Moyse signatures, pinholes, minor rust, trimmed, in PMG holder 25, very fine, a very scarce early date

BANQUE DE L’ALGERIE , 20 Francs, 8 December 1928, serial number B.2867 022, Penalva and Moyse signatures, pinholes, in PMG holder 64, choice uncirculated

BNB B124a, Pick 78a

BNB B124b, Pick 78b

£100-£150

152

BANQUE DE L’ALGERIE , 20 Francs, 21 January 1928, serial number H.2597 272, Penalva and Moyse signatures, in PMG holder 53 EPQ, about uncirculated

ALGERIA

BNB B124b, Pick 78b

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£100-£150

£150-£200

B A NKNOT E S

155

153

BANQUE DE L’ALGERIE , 20 Francs, 7 December 1928, serial number Y.2866 453, Penalva and Moyse signatures, pinholes, in PMG holder 55, about uncirculated BNB B124b, Pick 78b

BANQUE DE L’ALGERIE , 20 Francs (7), 8 January 1929, 19 January 1929, 24 January 1929, 25 January 1929, 4 July 1929, 11 May 1932, and 12 May 1932, all Penalva and Moyse signatures, all with nice original paper, mostly good very fine, last extremely fine (7 notes) BNB B124b, Pick 78b

£120-£160

£100-£150

156

154

BANQUE DE L’ALGERIE , 20 Francs (7), 11 June 1924, 30 August

1926, 4 April 1928, 18 April 1928, 17 October 1928, 23 October 1928, and 29 October 1928, all Penalva and Moyse signatures, ranging from good fine to original very fine (7 notes)

BANQUE DE L’ALGERIE , 20 Francs, 23 January 1939, serial number S.3269 522, Archambaud and Penalva signatures, original paper, extremely fine, and a much scarcer signature variety, the final date for this signature

BNB B124b, Pick 78b

BNB B124c, Pick 78c

£100-£150

£100-£150

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

157

BANQUE DE L’ALGERIE , specimen 20 Francs, ND (1941-42), serial number O.0000 000, Sebald and Roux signatures, red SPECIMEN stamp, in PMG holder 58 EPQ, choice about uncirculated, one of only two such specimens graded by PMG, very rare BNB B124ds, Pick 78s

158

BANQUE DE L’ALGERIE , 20 Francs (7), 14 January 1941, 12

February 1941, 18 February 1941, 3 March 1941, 9 August 1941, 23 August 1941, and 27 September 1941, Sebald and Roux signatures, all attractive and original good very fine examples with different dates (7 notes)

BNB B124d, Pick 78c

£100-£150

£300-£400

159

BANQUE DE L’ALGERIE , 20 Francs (5), 5 January 1942, 28 January 1942, 3 February 1942, 17 February 1942, and 10 March 1942, Sebald and Roux signatures, the last with the name and address of a United States serviceman in the watermark area, very fine to good very fine (5 notes) BNB B124d, Pick 78c

£80-£100

ALGERIA

The annotation on the last note reads ‘Arnold M. Barr / 920 Moultrie Ave / Mattoon / Ill’, a house that appears to still exist today.

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A PAIR OF S P E CIME N S FO R THE AT TR AC TI VE 5 0 FR A N CS O F 1 9 2 4

160

BANQUE DE L’ALGERIE , specimen 50 Francs, ND (1924-33), serial number O.000 000, Penalva and Moyse signatures, red SPECIMEN stamp, in PMG holder 55 EPQ, about uncirculated, a superb example of a truly beautiful design, rare BNB B126bs, Pick 80s

£400-£500

161

BNB B126bs, Pick 80s

£400-£500 All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

ALGERIA

BANQUE DE L’ALGERIE , specimen 50 Francs, ND (1924-33), serial number O.000 000, Penalva and Moyse signatures, red SPECIMEN stamps, edge slit, in PMG holder 58, choice about uncirculated, a lovely example of a classic design, rare

B A NKNOT E S

164

BANQUE DE L’ALGERIE , 50 Francs (3), 3 August 1936, 4 March 1937, and 9 March 1937, Penalva and Archambaud signatures, minor edge splits and pinholes, very fine and scarce (3 notes)

162

BANQUE DE L’ALGERIE , 50 Francs, 25 January 1937, serial number D.1587 676, Penalva and Archambaud signatures, pinholes, in PMG holder 35, choice very fine BNB B126c, Pick 80a

BNB B126c, Pick 80a

£150-£200

£120-£160

165

163

number P.1605 084, Penalva and Archambaud signatures, pinholes, in PMG holder 30, very fine

BANQUE DE L’ALGERIE , 100 Francs, 28 July 1928, serial number T.721 821, Penalva, Picard, and Moyse signatures, small tears, pinholes, and minor rust, in PMG holder 45, choice extremely fine, an attractive example of a scarce note

BNB B126c, Pick 80a

BNB B127c, Pick 81b

BANQUE DE L’ALGERIE , 50 Francs, 18 February 1937, serial

ALGERIA

£100-£150

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£200-£260

B A NKNOT E S

166

BANQUE DE L’ALGERIE , 100 Francs (2), 9 January 1933 and 13 December 1932, serial numbers S.1102 590 and U.1081 101, Penalva, Picard, and Moyse signatures, first in PMG holder 30, very fine and a very presentable and clean example, far above average appearance for this grade, second good fine (2 notes) BNB B127c, Pick 81b

£120-£160

A LOV E LY QUA L I TY E X AM PL E O F THE 1 0 0 FR AN CS O F 1 9 3 6

167

BNB B127d, Pick 81b

£500-£700

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

ALGERIA

BANQUE DE L’ALGERIE , 100 Francs, 20 July 1936, serial number D.1456 526, Penalva, Escallier, and Archambaud signatures, in PMG holder 55 EPQ, about uncirculated, superb grade for type, and with wonderful paper quality, a beautiful note

B A NKNOT E S

A S P ECIMEN FOR THE B E AUTI FUL 5 0 0 FR A N CS O F 1 9 2 6

168

BANQUE DE L’ALGERIE , specimen 500 Francs, ND (1926), serial number O.0 000, Penalva, Picard, and Moyse signatures, red SPECIMEN and black ANNULE overprints, in PMG holder 35, choice very fine, rare

ALGERIA

BNB B128as, Pick 82s

£800-£1,000

B A NKNOT E S

169

BANQUE DE L’ALGERIE , 500 Francs, 10 July 1926, serial number B.12 509, Penalva, Picard, and Moyse signatures, pinholes, in PMG holder 30, very fine, a beautiful example with nice clean paper BNB B128a, Pick 82

£500-£700

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A HUGELY- IMP RESSI VE SPE CI M E N 1 0 0 0 FR A N CS O F 1 9 2 6

170

ALGERIA

BANQUE DE L’ALGERIE , specimen 1000 Francs, ND (1926), serial number O.00 000, Penalva, Picard, and Moyse signatures, red SPECIMEN overprints, in PMG holder 40 EPQ, extremely fine, only four examples graded by PMG, a very scarce specimen BNB B129as, Pick 83s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£1,500-£2,000

B A NKNOT E S

171

BANQUE DE L’ALGERIE , 1000 Francs, 29 June 1926, serial number O.2 364, Penalva, Picard, and Moyse signatures, tiny margin tears, pinholes, in PMG holder 25, very fine BNB B129a, Pick 83a

£200-£260

172

BANQUE DE L’ALGERIE , 1000 Francs, 4 July 1939, serial number L.196 801, Sebald, Escallier, and Roux signatures, pinholes, in PMG holder 30, very fine, a very presentable example BNB B129c, Pick 83a

£240-£300

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

P OT E N TIAL LY UN IQUE P ROO FS FO R THE UN I SSUE D 1 0 , 0 0 0 FR AN CS O F 1 9 2 6

173

ALGERIA

BANQUE DE L’ALGERIE , obverse (5) and reverse (1) proofs for the spectacular unissued 10,000 Francs, ND (1926), without serial numbers or signatures, including one complete obverse proof, and four obverse progressive proofs showing each print layer individually, in addition to a reverse proof in the form of an issued 1000 Francs laid down on card with ‘10,000’ denominations pasted over the top, first five in PMG holders 65 EPQ, 64 EPQ, 65 EPQ, 64 EPQ, and 64, gem/choice uncirculated, last probably around very fine to extremely fine but entirely stuck down, a set of notes so rare as to be almost mythical, and likely only obtainable as proofs, some of the jewels of the George Kanaan Collection! (6 notes) BNB B129.5, Pick unlisted

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£12,000-£16,000

B A NKNOT E S ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

176

174

BANQUE DE L’ALGERIE , 50 Francs, 27 September 1941, serial

number J.770 774, Sebald and Roux signatures, female head watermark, in PMG holder 55 EPQ, about uncirculated, lovely paper quality for type

BNB B130b, Pick 84

£100-£150

BANQUE DE L’ALGERIE , 50 Francs, 9 September 1942, serial number Z.1312 278, Sebald and Roux signatures, Banque de l’Algerie watermark and letters to left and right of date, in PMG holder 55 EPQ, about uncirculated, almost the first date of issue for this type BNB B130d, Pick 87

£80-£100

175

BANQUE DE L’ALGERIE , 50 Francs (5), 30 November 1939, 20 December 1939, 9 April 1940, 12 October 1940, and 5 September 1941, Sebald and Roux signatures, female head watermark, very fine to good very fine, a nice range of dates (5 notes) BNB B130b, Pick 84

£100-£150

177

BANQUE DE L’ALGERIE , 50 Francs, 29 November 1944, serial number L.1493 730, Sebald and Roux signatures, Banque de l’Algerie watermark and without letters to left and right of date, in PMG holder 64 EPQ, choice uncirculated, very likely the first date of issue for this type

ALGERIA

BNB B130e, Pick 87

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£120-£160

B A NKNOT E S

180

178

45), without serial number, previously mounted, printer’s annotations, in PMG holder 50, about uncirculated, very rare

BANQUE DE L’ALGERIE , 100 Francs (2), 25 July 1939 and 23 February 1942, serial numbers R.16 616 and Q.790 417, Sebald and Roux signatures, female head watermarks, in PMG holder 55 EPQ and 55, about uncirculated, the first an early date for type (2 notes)

BNB B131p, Pick 85p1

BNB B131a, Pick 85

BANQUE DE L’ALGERIE , obverse proof 100 Francs, ND (1939-

£200-£260

£120-£160

181

179

BANQUE DE L’ALGERIE , specimen 100 Francs, ND (1939-45), serial number O.0000 001, Sebald, Escallier, and Roux signatures, red SPECIMEN overprints, in PMG holder 64 EPQ, choice uncirculated, only a handful graded by PMG, a rare specimen

BANQUE DE L’ALGERIE , 100 Francs (7), 2 August 1939, 20 January 1940, 26 January 1940, 16 April 1940, 19 September 1940, 15 January 1941, and 1 February 1941, Sebald and Roux signatures, female head watermarks, original paper, very fine, a nice date selection (7 notes)

BNB B131s, Pick 85s

BNB B131a, Pick 85

£200-£260

£100-£150

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

182

BANQUE DE L’ALGERIE , 100 Francs (6), 4 April 1942, 17 April 1942, 30 May 1942, 23 July 1942, 20 July 1945, and 23 July 1945, Sebald and Roux signatures, first four with Banque de l’Algerie watermarks, last two with female head watermarks, two extremely fine, others very fine (6 notes) BNB B131b,c, Pick 88/85

183

£100-£150

184

BANQUE DE L’ALGERIE , 100 Francs, 19 July 1945, serial number

C.2460 753, Sebald and Roux signatures, female head watermark, in PMG holder 64 EPQ, choice uncirculated, a scarce re-issue of the earlier watermark type on a later date

BANQUE DE L’ALGERIE , 100 Francs, 23 May 1945, serial number Z.2158 096, Sebald and Roux signatures, female head watermark, in PMG holder 64, choice uncirculated, a scarce re-issue of the earlier watermark type on a later date

BNB B131c, Pick 88/85

BNB B131c, Pick 88/85

ALGERIA

£150-£200

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£150-£200

B A NKNOT E S

A S TRIKIN G S P E CI M E N FO R THE 1 0 0 0 FR AN CS O F 1 9 4 1

185

BNB B132as, Pick 86s

£800-£1,000 All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

ALGERIA

BANQUE DE L’ALGERIE , specimen 1000 Francs, ND (1941-42), serial number O.0000 000, Sebald, Escallier, and Roux signatures, red SPECIMEN overprints, printer’s annotation, in PMG holder 65 EPQ, gem uncirculated, very rare, and the single-finest of only seven examples graded by PMG

B A NKNOT E S

186

BANQUE DE L’ALGERIE , 1000 Francs, 2 October 1941, serial

number X.228 563, Sebald, Escallier, and Roux signatures, female head watermark, repaired in a few places around the margins, pinholes, in PMG holder 35, choice very fine, a rare note in anything above very fine

BNB B132a, Pick 86

£200-£260

187

188

BANQUE DE L’ALGERIE , 1000 Francs, 2 November 1942, serial number D.754 477, Sebald, Escallier, and Roux signatures, Banque de l’Algerie watermark, letters flanking date, staple holes, minor stains, in PMG holder 45, choice extremely fine, not many graded by PMG, a scarce note and an attractive grade BNB B132b, Pick 89

£400-£500

189

BANQUE DE L’ALGERIE , 1000 Francs, 3 November 1942, serial

number S.1061 369, Sebald, Escallier, and Roux signatures, female head watermark, staple holes, minor rust, in PMG holder 30, very fine, an attractive example

BANQUE DE L’ALGERIE , 1000 Francs, 19 October 1942, serial number P.695 569, Sebald, Escallier, and Roux signatures, Banque de l’Algerie watermark, letters flanking date, staple holes, minor stains, in PMG holder 25, very fine, scarce and a nice looking example

BNB B132a, Pick 86

BNB B132b, Pick 89

ALGERIA

£180-£240

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£180-£240

B A NKNOT E S

A RARE LY ENCOUNTER E D SPE CI M E N FO R THE 1 9 4 2 5 0 0 0 FR A N CS

190

BANQUE DE L’ALGERIE , specimen 5000 Francs, 9 April 1942, serial number W.82 998, Sebald, Escallier, and Roux signatures, red SPECIMEN overprints, in PMG holder 50 EPQ, about uncirculated, rare and very beautiful with wonderful paper quality BNB B133as, Pick 90s

£1,500-£2,000

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

191

BANQUE DE L’ALGERIE , 5000 Francs, 1 June 1942, serial number N.124 368, Sebald, Escallier, and Roux signatures, small tear, in PMG holder 30, very fine, only four examples graded higher by PMG, thus rare BNB B133a, Pick 90a

£400-£500

193

BANQUE DE L’ALGERIE , 20 Francs, 3 July 1943, serial number T.197 678, Berino and Sebald signatures, in PMG holder 66 EPQ, gem uncirculated, an exceptional date for type, with only a handful graded higher

by PMG BNB B135a, Pick 92a

192

BANQUE DE L’ALGERIE , specimen 5 Francs, 16 November 1942, serial number Z.9 000, Berino and Sebald signatures, red SPECIMEN overprints, also two issued examples, serial numbers H.119 031 and E.369 357, first with staple holes, in PMG holder 58, choice about uncirculated, second good extremely fine, last about uncirculated to uncirculated (3 notes) BNB B134as,a, Pick 91s, 91

£180-£240

194

BANQUE DE L’ALGERIE , 20 Francs (6), 14 December 1942, 17 December 1942, 15 February 1943, 22 February 1943, 20 December 1943, and 25 January 1944, Berino and Sebald signatures, first four without letters flanking dates, last two with letters, also 20 Francs (2), 29 November 1944 and 7 May 1945, serial numbers C.1001 239 and J.2006 003, Roux and Sebald signatures, first type one with staple holes, mostly extremely fine, one very fine, second type very fine (8 notes)

ALGERIA

BNB B135a,b,c, Pick 92a,b

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£120-£160

£100-£150

B A NKNOT E S

195

197

serial number W.552 083, Berino and Sebald signatures, date flanked by letters, red SPECIMEN overprints, minor foreign substance, printer’s annotation, in PMG holder 53, about uncirculated, very scarce

serial numbers G.750 362-63, Berino and Sebald signatures, date flanked by letters, in PMG holders 65 EPQ, gem uncirculated (2 notes)

BANQUE DE L’ALGERIE , specimen 20 Francs, 2 February 1944,

BNB B135bs, Pick 92as

£120-£160

BNB B135b, Pick 92a

£150-£200

198

196

BANQUE DE L’ALGERIE , 20 Francs (2), 20 April 1944, consecutive serial numbers G.750 360-61, Berino and Sebald signatures, date flanked by letters, in PMG holders 66 EPQ and 64, gem/choice uncirculated (2 notes) BNB B135b, Pick 92a

BANQUE DE L’ALGERIE , 20 Francs (2), 20 April 1944, consecutive

BANQUE DE L’ALGERIE , 20 Francs (2), 20 April 1944, consecutive serial numbers G.750 364-65, Berino and Sebald signatures, date flanked by letters, in PMG holders 65 EPQ, gem uncirculated (2 notes)

BNB B135b, Pick 92a

£150-£200

£150-£200

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

199

BANQUE DE L’ALGERIE , 20 Francs (2), 20 April 1944, consecutive serial numbers G.750 366-67, Berino and Sebald signatures, date flanked by letters, in PMG holders 64 and 65 EPQ, choice/gem uncirculated (2 notes) BNB B135b, Pick 92a

£150-£200

200

BANQUE DE L’ALGERIE , 20 Francs (2), 20 April 1944, consecutive serial numbers G.750 368-69, Berino and Sebald signatures, date flanked by letters, in PMG holders 65 EPQ, gem uncirculated (2 notes)

ALGERIA

BNB B135b, Pick 92a

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£150-£200

B A NKNOT E S

A PAIR OF S C ARCE S PE CI M E N S FO R THE 1 0 0 0 FR A N CS O F 1 9 4 3

201

BANQUE DE L’ALGERIE , specimen 500 Francs, ND (1943-44), serial number O.0 000, Berino, Routaboul, and Sebald signatures, red SPECIMEN overprints, in PMG holder 53 EPQ, about uncirculated, a rare and beautiful specimen BNB B136as, Pick 93s

£1,000-£1,500

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

202

BANQUE DE L’ALGERIE , specimen 500 Francs, ND (1943-44), serial number O.0 000, Berino, Routaboul, and Sebald signatures, red SPECIMEN overprints, in PMG holder 50 EPQ, about uncirculated, a lovely note

ALGERIA

BNB B136as, Pick 93s

£1,000-£1,500

B A NKNOT E S

203

BANQUE DE L’ALGERIE , 500 Francs, 25 June 1943, serial number

E.86 508, Berino, Routaboul, and Sebald signatures, pinholes, minor rust, in PMG holder 25, very fine, scarce

BNB B136a, Pick 93

£150-£200

204

BANQUE DE L’ALGERIE , specimen 5 Francs, 8 February 1944, serial number O.000 000, Berino and Sebald signatures, red SPECIMEN overprints, printer’s annotation, in PMG holder 58 EPQ, choice about uncirculated, the single-finest of only four specimens of all types graded by PMG, very rare BNB B137as, Pick 94as

£200-£260

205

BANQUE DE L’ALGERIE , 500 Francs, 15 September 1944, serial number P.395 524, Berino, Routaboul, and Sebald signatures, pinholes, in PMG holder 35, choice very fine, very scarce in any grades above very fine BNB B138a, Pick 95

£200-£260

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A N E X TRE ME LY RARE E XAMP L E O F THE SO UG HT- A F TE R 1 0 0 0 FR AN CS O F 1 9 4 5

206

BANQUE DE L’ALGERIE , 1000 Francs, 23 March 1945, serial number V.1031 472, Sebald and Roux signatures, in PMG holder 55, about uncirculated, an extremely rare and popular note

ALGERIA

BNB B141a, Pick 96

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£2,000-£2,600

B A NKNOT E S

210

207

BANQUE DE L’ALGERIE , specimen 20 Francs, ND (1948), serial number O.000 000, Couquet and Delahaye signatures, perforated SPECIMEN, also an issued example, 4 June 1948, serial number D.1 318, first previously mounted, in PMG holder 63, choice uncirculated, second very fine, specimens for this issue are very scarce (2 notes) BNB B142as,a, Pick 103s, 103

£360-£420

211

BANQUE DE L’ALGERIE , specimen 1000 Francs, ND (1946-47), serial number O.00 000, Couquet, Brunet, and Delahaye signatures, red SPECIMEN overprints, in PMG holder 63, choice uncirculated, very scarce as a specimen, and this example in lovely grade

BANQUE DE L’ALGERIE , 5000 Francs, 21 January 1947, serial number B.52 605, Couquet, Brunet, and Delahaye signatures, small tear, pinholes, and minor rust, in PMG holder 30, very fine, scarce BNB B144a, Pick 105a

£300-£400

£300-£400

212

BANQUE DE L’ALGERIE , 5000 Francs, ND (1946-49), serial

number O.00 000, Couquet, Brunet, and Delahaye signatures, red SPECIMEN overprints, printer’s annotation, previously mounted, in PMG holder 63, choice uncirculated, very scarce as a specimen

£400-£500

BANQUE DE L’ALGERIE , 5000 Francs, 7 May 1947, serial number X.125 321, Couquet, Brunet, and Delahaye signatures, pinholes and minor rust, in PMG holder 30, very fine, scarce and presentable for grade BNB B144a, Pick 105a

£320-£420

ALGERIA

209

BNB B144as, Pick 105s

BNB B144a, Pick 105a

£200-£260

208

BNB B143as, Pick 104s

BANQUE DE L’ALGERIE , 5000 Francs, 30 June 1947, serial number V.161 692, Couquet, Brunet, and Delahaye signatures, pinholes and minor rust, in PMG holder 35, choice very fine, a scarce note and only four examples graded higher than very fine by PMG

B A NKNOT E S

RE G I O N E CO NO M I Q U E D ’A LG E RI E

213

BANQUE DE L’ALGERIE , 5000 Francs, 29 January 1947, serial number F.58 064, Couquet, Brunet, and Delahaye signatures, pinholes, ink, and minor rust, in PMG holder 25, very fine, scarce BNB B144a, Pick 105a

£260-£320

216

REGION ECONOMIQUE D’ALGERIE , a group of the 1944 issue comprising 50 Centimes (2), serial numbers C4 207815 and I3 704138, second example series 2, 1 Franc (2), serial numbers B463220 and H3 022281, second example series 2, also 2 Francs (4), serial numbers A1 476286, D 313864, G147147, and G855960, latter two series 2, last note about uncirculated, others range from very fine to extremely fine, a nice group (8 notes) BNB B151a,c, B152a,c, B153a,b,c, Pick 97-102

£100-£150

B A NQ U E D E L’A LG E RI E E T D E L A T U NI SI E

214

BANQUE DE L’ALGERIE , 5000 Francs, 25 April 1947, serial number F.118 493, Couquet, Brunet, and Delahaye signatures, pinholes and minor rust, in PMG holder 25, very fine, scarce BNB B144a, Pick 105a

£260-£320

217

BANQUE DE L’ALGERIE ET DE LA TUNISIE , specimen 500 Francs, ND (1950), serial number O.00 000, Civier and Delahaye signatures, perforated SPECIMEN, staple holes, in PMG holder 58, choice about uncirculated, very scarce as a specimen BNB B201as, Pick 106s

ALGERIA

215

BANQUE DE L’ALGERIE , 5000 Francs, 12 June 1947, serial number E.149 040, Couquet, Brunet, and Delahaye signatures, pinholes, in PMG holder 25, very fine, scarce BNB B144a, Pick 105a

£260-£320

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£300-£400

B A NKNOT E S

218

219

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 500 Francs, 9

January 1950, serial number B.5 718, Civier and Delahaye signatures, without letters flanking date, a few small stains at lower left, in PMG holder 25, very fine, scarce, and an extremely early date and prefix

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 500 Francs, 9 April 1952, serial number S.456 030, Civier and Gandy signatures, date flanked by letters, previously mounted, in PMG holder 55, about uncirculated, very nice grade for this scarce type

BNB B201a, Pick 106

BNB B201b, Pick 106

£150-£200

£400-£500

220

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 500 Francs, 8 June 1954, serial number T.729 865, Civier and Gandy signatures, without letters flanking date, in PMG holder 35, choice very fine, a thoroughly presentable example BNB B201c, Pick 106

£200-£260

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A S C ARCE S P EC I M E N FO R THE 1 0 0 0 FR AN CS O F 1 9 4 9

221

BANQUE DE L’ALGERIE ET DE LA TUNISIE , specimen 1000 Francs, ND (1949-51), serial number O.000 000, Civier, Flouret, and Delahaye signatures, perforated SPECIMEN, in PMG holder 64 EPQ, choice uncirculated, the single-finest of only 11 graded specimens for this note, exceptional BNB B202as, Pick 107as

£500-£700

223

222

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 1000 Francs,

22 May 1950, serial number Y.833 094, Civier, Flouret, and Delahaye signatures, pinholes, in PMG holder 30, very fine, a rare signature variety, with only three examples graded by PMG

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 1000 Francs, 12 January 1953, serial number K.1038 177, Civier, Watteau, and Gandy signatures, with letters flanking date, staple holes at issue, small tears, in PMG holder 25, very fine, very scarce

BNB B202a, Pick 107a

BNB B202b, Pick 107b

ALGERIA

£200-£260

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£100-£150

B A NKNOT E S

226

224

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 1000 Francs, 26 April 1956, serial number R.1799 869, Civier, Watteau, and Gandy signatures, without letters flanking date, pencil annotation on reverse, stains lightened, in PMG holder 45, choice extremely fine BNB B202c, Pick 107b

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 1000 Francs (4), 5 October 1956, 8 October 1956, 10 October 1956, and 3 February 1958, Civier, Watteau, and Gandy signatures, without letters flanking dates, good fine to about very fine (4 notes) BNB B202c, Pick 107b

£150-£200

£180-£240

It is unclear what PMG mean by ‘stains lightened’ but it may refer to some light stains in the watermark area, or a pencil annotation on reverse that shows through to the obverse.

227

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5000 Francs, 14 March 1950, serial number T.511 520, Civier, Flouret, and Delahaye signatures, date flanked by letters, pinholes and minor stains, in PMG holder 25, very fine BNB B203a, Pick 109a

£100-£150

225

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 1000 Francs, 17 April 1957, serial number G.2021 295, Civier, Watteau, and Gandy signatures, without letters flanking date, staple holes at issue, lovely original paper, in PMG holder 40, extremely fine and a very nice example BNB B202c, Pick 107b

£180-£240

228

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5000 Francs (2), 21 December 1949 and 19 January 1950, serial numbers A.340 402 and F.398 680, Civier, Flouret, and Delahaye signatures, with letters flanking dates, pinholes and very small edge tears, about very fine and early dates for this type (2 notes) BNB B203a, Pick 109a

£120-£160

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A S P E CIME N FO R THE SC ARCE 5 0 0 0 FR A N CS O F 1 9 5 0

229

BANQUE DE L’ALGERIE ET DE LA TUNISIE , specimen 5000 Francs, ND (1950-51), serial number O.000 000, Civier, Flouret, and Delahaye signatures, foxing in margins, in PMG holder 63, choice uncirculated, very scarce and in nice grade for type, with only a couple graded higher by PMG

ALGERIA

BNB B203bs, Pick 109as

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£600-£800

B A NKNOT E S

230

232

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5000 Francs, 7

November 1950, serial number T.677 047, Civier, Flouret, and Delahaye signatures, without letters flanking date, pinholes, in PMG holder 35, choice very fine, a very attractive and fresh example

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5000 Francs, 22 March 1951, serial number T.771 583, Civier, Flouret, and Delahaye signatures, without letters flanking date, pinholes, in PMG holder 25, very fine

BNB B203b, Pick 109a

BNB B203b, Pick 109a

£180-£240

£120-£160

233

231

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5000 Francs, 20 March 1951, serial number T.769 689, Civier, Flouret, and Delahaye signatures, without letters flanking date, pinholes and minor rust, in PMG holder 30, very fine BNB B203b, Pick 109a

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5000 Francs (2), 19 July 1950 and 25 July 1950, serial numbers A.612 499 and L.616 915, Civier, Flouret, and Delahaye signatures, without letters flanking dates, pinholes about very fine (2 notes) BNB B203b, Pick 109a

£150-£200

£150-£200

234

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5000 Francs (2), 4 September 1950 and 25 April 1951, serial numbers F.633 935 and X.794 207, Civier, Flouret, and Delahaye signatures, without letters flanking dates, pinholes, good very fine (2 notes) £180-£240

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

ALGERIA

BNB B203b, Pick 109a

B A NKNOT E S

236

235

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5000 Francs, 15 January 1953, serial number D.1065 226, Civier, Watteau, and Gandy signatures, date flanked by letters, staple holes at issue, in PMG holder 25, very fine, original and scarce BNB B203d, Pick 109b

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5000 Francs (2), 12 May 1953 and 24 November 1955, serial numbers H.1258 851 and J.1502 635, Civier, Watteau, and Gandy signatures, without letters flanking dates, good fine (2 notes) BNB B203e, Pick 109b

£100-£150

£120-£160

A RARE S P ECIME N FO R THE 1 0 , 0 0 0 FR A N CS O F 1 9 5 5

237

BANQUE DE L’ALGERIE ET DE LA TUNISIE , specimen 10,000 Francs, ND (1955-57), serial number O.0 000, Civier, Watteau, and Gandy signatures, perforated SPECIMEN, pinholes, in PMG holder 55, about uncirculated, rare as a specimen

ALGERIA

BNB B204as, Pick 110s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£500-£700

B A NKNOT E S

238

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 10,000 Francs, 17 March 1955, serial number F.34 621, Civier, Watteau, and Gandy signatures, pinholes, a solid and original fine BNB B204a, Pick 110

£80-£100

239

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5 Nouveaux Francs on 500 Francs, 3 October 1956, serial number T.1127 697, Civier and Gandy signatures, original paper, in PMG holder 20, very fine, one of only eight notes graded by PMG, very rare and an honest example BNB B206a, Pick 111

£180-£240

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A N UT T E RLY E XCEP TIONAL E X A M PL E O F THE 5 0 N O UVE AUX FR AN CS O F 1 9 5 6

240

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 50 Nouveaux Francs on 5000 Francs, 1 March 1956, serial number H.1570 261, Civier, Watteau, and Gandy signatures, staple holes, in PMG holder 63, choice uncirculated, only eight notes graded by PMG, of which only one is better than this, an exceptional example of a rare and sought-after note

ALGERIA

BNB B208a, Pick 113

£3,000-£4,000

B A NKNOT E S

241

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 100 Nouveaux Francs on 10,000 Francs, 28 February 1958, serial number R.498 442, Civier, Watteau, and Gandy signatures, stained, pinholes, small splits, in PMG holder 20, very fine BNB B209a, Pick 114

£120-£160

B A NQ U E D E L’A LG E RI E

242

BANQUE DE L’ALGERIE , specimen 500 Francs, ND (1958), serial number O.000 000, Civier and Gandy signatures, perforated SPECIMEN, minor rust, in PMG holder 63, choice uncirculated, rare in any form BNB B145as, Pick 117s

£240-£300

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A H IGH - GRADE A N D AT TR AC TI VE 5 0 0 FR A N CS O F 1 9 5 8

243

BANQUE DE L’ALGERIE , 500 Francs, 7 January 1958, serial number V.14 010, Civier and Gandy signatures, in PMG holder 64 EPQ, choice uncirculated, exceptional grade, with only one example graded higher by PMG, very rare

ALGERIA

BNB B145a, Pick 117

£700-£900

B A NKNOT E S

244

BANQUE DE L’ALGERIE , specimen 5 Nouveaux Francs, 31 July

1959, serial number T.00 000, Civier and Gandy signatures, perforated SPECIMEN, ‘SPECIMEN No 0188’ overprint, in PMG holder 58, choice about uncirculated, rare as a specimen

BNB B146as, Pick 118s

£300-£400

BANQUE DE L’ALGERIE , 5 Nouveaux Francs, 18 December 1959, serial number N.283 934, Civier and Genin signatures, closed pinholes, in PMG holder 30, very fine BNB B146b, Pick 118

£120-£160

248

245

BANQUE DE L’ALGERIE , 5 Nouveaux Francs, 31 July 1959, serial

number K.38 192, Civier and Gandy signatures, pinholes, in PMG holder 55, about uncirculated, very rarely found in such high grade, with only three examples graded higher by PMG

BNB B146a, Pick 118

247

£400-£500

BANQUE DE L’ALGERIE , specimen 10 Nouveaux Francs, 31 July 1959, serial number H.00 000, Civier, Watteau, and Gandy signatures, perforated SPECIMEN, ‘SPECIMEN No 0188’ overprint, in PMG holder 55 EPQ, about uncirculated, very scarce and wonderful quality BNB B147as, Pick 119s

£400-£500

249

246

BNB B146a, Pick 118

BNB B147a, Pick 119a

£100-£150

£80-£100

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

ALGERIA

BANQUE DE L’ALGERIE , 5 Nouveaux Francs, 31 July 1959, serial number P.123 541, Civier and Gandy signatures, in PMG holder 25, very fine and scarce

BANQUE DE L’ALGERIE , 10 Nouveaux Francs, 31 July 1959, serial number Y.129 525, Civier, Watteau, and Gandy signatures, staple holes at issue, in PMG holder 30, very fine, the considerably scarcer first signature variety

B A NKNOT E S

A 10 NOUVE AUX FRAN CS O F 1 9 6 1 I N A STO N I SHI N G LY HI G H G R A D E

250

BANQUE DE L’ALGERIE , 10 Nouveaux Francs, 10 February 1961, serial number P.729 258, Civier, Watteau, and Genin signatures, in PMG holder 67 EPQ, superb gem uncirculated, a wonderful example of this classic design

ALGERIA

BNB B147b, Pick 119a

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£1,500-£2,000

B A NKNOT E S

251

BANQUE DE L’ALGERIE , 10 Nouveaux Francs (2), 25 November 1960 and 29 July 1960, serial numbers B.584 114 and O.338 924, Civier, Watteau, and Genin signatures, in PMG holders 40 and 25, extremely fine and very fine (2 notes) BNB B147b, Pick 119a

£150-£200

252

BANQUE DE L’ALGERIE , specimen 50 Nouveaux Francs, 31 July 1959, serial number R.0 000, Civier, Watteau, and Gandy signatures, perforated SPECIMEN, ‘SPECIMEN No 0189’ overprint, in PMG holder 64 EPQ, choice uncirculated, the single finest of only nine graded examples, thus rare BNB B148as, Pick 120s

£400-£500

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

AN IN CRE DIBL E CON SE CUTI VE PA I R O F 5 0 N O UVE AUX FR AN CS

253

BANQUE DE L’ALGERIE , 50 Nouveaux Francs, 31 July 1959, serial number Y.118 204, Civier, Watteau, and Gandy signatures, pinholes, minor rust, in PMG holder 58, choice about uncirculated, exceptional grade for type, consecutive with subsequent lot

ALGERIA

BNB B148a, Pick 120a

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£800-£1,000

B A NKNOT E S

254

BANQUE DE L’ALGERIE , 50 Nouveaux Francs, 31 July 1959, serial number Y.118 205, Civier, Watteau, and Gandy signatures, pinholes, minor rust, in PMG holder 58, choice about uncirculated, exceptional grade for type, consecutive with previous lot BNB B148a, Pick 120a

£800-£1,000

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

255

BANQUE DE L’ALGERIE , 100 Nouveaux Francs, 2 June 1961,

serial number P.341 060, Civier, Watteau, and Genin signatures, pinholes, in PMG holder 35, choice very fine

BNB B149b, Pick 121b

£100-£150

257

BANQUE CENTRALE D’ALGERIE , specimen 5 Dinars, 1 January 1964, serial number O.000 000, Belghoula and Mostefai signatures, perforated SPECIMEN, ‘overprinted SPECIMEN No 0092’, in PMG holder 64, choice uncirculated BNB B301as, Pick 122s

£300-£400

258

256

BANQUE DE L’ALGERIE , 100 Nouveaux Francs, 18 December 1959, serial number F.120 276, Civier, Watteau, and Genin signatures, pinholes, in PMG holder 30, very fine £100-£150

ALGERIA

BNB B149b, Pick 121b

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

BANQUE CENTRALE D’ALGERIE , 5 Dinars (2) and 10 Dinars (2), 1 January 1964, serial numbers Y.590 966, H.1126 535, J.689 047, and W.702 248, Belghoula and Mostefai signatures, second 5 Dinars with wider date and different font, one of each extremely fine, others very fine (4 notes) BNB B301a,b, B302a, Pick 122a,b, 123a

£150-£200

B A NKNOT E S

B ANQ U E CE NT RA LE D ’A LG E RI E

259

261

BANQUE CENTRALE D’ALGERIE , 50 Dinars, 1 January 1964,

serial number A.213 466, Belghoula and Mostefai signatures, in PMG holder 65 EPQ, gem uncirculated

BANQUE CENTRALE D’ALGERIE , 50 Dinars, 1 January 1964, serial number A.213 503, Belghoula and Mostefai signatures, in PMG holder 64 EPQ, choice uncirculated

BNB B303a, Pick 124a

BNB B303a, Pick 124a

£200-£260

260

£150-£200

262

BANQUE CENTRALE D’ALGERIE , 50 Dinars, 1 January 1964,

serial number A.213 080, Belghoula and Mostefai signatures, in PMG holder 64 EPQ, choice uncirculated

BANQUE CENTRALE D’ALGERIE , 50 Dinars, 1 January 1964, serial number A.213 287, Belghoula and Mostefai signatures, in PMG holder 58 EPQ, choice about uncirculated

BNB B303a, Pick 124a

BNB B303a, Pick 124a

£150-£200

£100-£150

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

263

BANQUE CENTRALE D’ALGERIE , specimen 100 Dinars, ND (1 January 1964), serial number O.000 000, Belghoula and Mostefai signatures, perforated SPECIMEN, overprinted ‘SPECIMEN No. 0159’, in PMG holder 55 EPQ, about uncirculated, scarce BNB B304as, Pick 125a

264

BANQUE CENTRALE D’ALGERIE , 100 Dinars (3), 1 January 1964, serial numbers K.581 726, T.276 338, and W.1303 845, Belghoula and Mostefai signatures, first in PMG holder 53, about uncirculated, others very fine (3 notes)

ALGERIA

BNB B304a, Pick 125a

£150-£200

266

£400-£500

265

BANQUE CENTRALE D’ALGERIE , specimen 5 Dinars, 1 November 1970, serial number O000 00000, Khelif and Mostefai signatures, red ‘SPECIMEN No. 007048’ overprint, minor thinning, in PMG holder 63, choice uncirculated, scarce BNB B305as, Pick 126s

£150-£200

267

BANQUE CENTRALE D’ALGERIE , specimen 10 Dinars, 1

November 1970, serial number O000 00000, Khelif and Mostefai signatures, red ‘SPECIMEN No. 016287’ overprint, in PMG holder 63, choice uncirculated, scarce

BANQUE CENTRALE D’ALGERIE , specimen 100 Dinars, 1 November 1970, serial number O000 00000, Khelif and Mostefai signatures, red ‘SPECIMEN No. 004507’ overprint, in PMG holder 64, choice uncirculated, very scarce

BNB B306as, Pick 127s

BNB B307as, Pick 128s

£180-£240

£200-£260

B A NKNOT E S

271

268

BANQUE CENTRALE D’ALGERIE , specimen 500 Dinars, 1 November 1970, serial number O000 00000, Khelif and Mostefai signatures, red ‘SPECIMEN No. 00930’ overprint, in PMG holder 64 EPQ, choice uncirculated, only a few in higher grades on the PMG population report, scarce BNB B308as, Pick 129s

BANQUE CENTRALE D’ALGERIE , specimen 10 Dinars, 2 December 1983, serial number 00 000 00000, Hamed and Bouraoui signatures, red specimen overprints in Arabic, perforated 3314, in PMG holder 64, choice uncirculated BNB B309as, Pick 132s

£100-£150

£220-£280

272

BANQUE CENTRALE D’ALGERIE , specimen 20 Dinars, 2 January 1983, serial number 00 000 00000, Hamed and Bouraoui signatures, green specimen overprints in Arabic, perforated 0129, light handling, overall uncirculated

269

BNB B310as, Pick 133s

£100-£150

BANQUE CENTRALE D’ALGERIE , specimen 500 Dinars, 1 November 1970, serial number O000 00000, Khelif and Mostefai signatures, red ‘SPECIMEN No. 00071’ overprint, rust, staple holes, previously mounted, in PMG holder 50, about uncirculated BNB B308as, Pick 129s

£120-£160

273

BANQUE CENTRALE D’ALGERIE , specimen 50 Dinars, 1 November 1977, serial number 00 000 00000, Hamed and Mostefai signatures, small red specimen overprints in Arabic, perforated 731, uncirculated BNB B311as, Pick 130s

270

£100-£150

BNB B305a, B306b, B307a, B308a,b, Pick 126-129

ALGERIA

BANQUE CENTRALE D’ALGERIE , a group of the 1 November 1970 issue comprising 5 Dinars (4), 10 Dinars (2), 100 Dinars (2), and 500 Dinars (4), Khelif and Mostefai signatures, two of the 5 Dinars and both 10 Dinars uncirculated, others generally very fine to extremely fine (12 notes) £100-£150 All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

274

BANQUE CENTRALE D’ALGERIE , specimen 50 Dinars, 1 November 1977, serial number 00 000 00000, Hamed and Mostefai signatures, small red specimen overprints in Arabic, perforated 605, staple holes, paperclip marks, about uncirculated BNB B311as, Pick 130s

£80-£100

277

ERROR: BANQUE CENTRALE D’ALGERIE , 10 Dinars, 2 December 1983, serial number 33 009 63373, Hamed and Nouioua signatures, with large butterly fold/shark fin error at lower right, in PMG holder 35, choice very fine, a wonderful error

275

BNB B309b, Pick 132a

£120-£160

BANQUE CENTRALE D’ALGERIE , specimen 100 Dinars, 1 November 1981, serial number 00 000 00000, Hamed and Bouraoui signatures, red specimen overprints in Arabic, perforated 6020, uncirculated and scarce BNB B312bs, Pick 131s

£100-£150

278

276

BANQUE CENTRALE D’ALGERIE , specimen 200 Dinars,

23 March 1983, serial number 00 000 00000, Hamed and Bouraoui signatures, red specimen overprint in Arabic, perforated 0693, handling, overall still uncirculated and scarce

£120-£160

ALGERIA

BNB B314as, Pick 135s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

GOEBEL, a test note for BANQUE CENTRALE D’ALGERIE , 1978, with various denominations including 100 and 500 on the obverse and 50 on the reverse, small tear, in PMG holder 58, choice about uncirculated, attractive and scarce

BNB and Pick unlisted

£120-£160

B A NKNOT E S

279

GOEBEL, a test note for BANQUE CENTRALE D’ALGERIE ,

1985, denominated 10, 50, and 500 in various locations, various serial numbers, in PMG holder 65 EPQ, gem uncirculated, attractive and scarce

BNB and Pick unlisted

£120-£160

282

GOEBEL, obverse and reverse proofs for a test note for BANQUE CENTRALE D’ALGERIE , 1985, denominated 0000, obverse purple, serial number 00008, with large security strip, reverse blue, cut-down format, in PMG holders 66 EPQ and 65 EPQ, gem uncirculated, attractive and scarce (2 notes)

BNB and Pick unlisted

£150-£200

B A NQ U E D ’A LG E RI E

280

GOEBEL, a test note for BANQUE CENTRALE D’ALGERIE ,

1985, denominated 10 and 50 in various locations, various serial numbers, in PMG holder 65 EPQ, gem uncirculated, attractive and scarce

BNB and Pick unlisted

£120-£160

283

BANQUE D’ALGERIE , specimen 100 Dinars, 21 May 1992 (1996),

serial number 00 000 00000, Guerdoud and Keramane signatures, red specimen overprint in Arabic, specimen number 001090, in PMG holder 64, choice uncirculated, very scarce and only a single example graded higher

by PMG

BNB B401as, Pick 137s

£150-£200

281

GOEBEL, a test note for BANQUE CENTRALE D’ALGERIE ,

1985, denominated 0000, various upside-down serial numbers, in PMG holder 64, choice uncirculated, attractive and scarce

BNB and Pick unlisted

£120-£160

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

287

284

BANQUE D’ALGERIE , specimen 200 Dinars, 21 May 1992 (1996),

serial number 00 000 00000, Guerdoud and Keramane signatures, red specimen overprint in Arabic, specimen number 000176, in PMG holder 66 EPQ, gem uncirculated, very scarce, and the single finest of only five graded by PMG

BNB B402as, Pick 138s

BANQUE D’ALGERIE , specimen 500 Dinars, 10 June 1998, serial

number 00 000 00000, Guerdoud and Keramane signatures, red specimen overprint in Arabic, specimen number 00136, in PMG holder 66 EPQ, gem uncirculated, one of only three graded by PMG, very scarce

BNB B405as, Pick 141s

£150-£200

£150-£200

288

BANQUE D’ALGERIE , specimen 1000 Dinars, 10 June 1998, serial

285

BANQUE D’ALGERIE , specimen 500 Dinars, 21 May 1992 (1996),

serial number 00 000 00000, Guerdoud and Keramane signatures, red specimen overprint in Arabic, specimen number 002090, in PMG holder 65 EPQ, gem uncirculated, very scarce, and only one of the six graded by PMG is better than this example

BNB B403as, Pick 139s

number 00 000 00000, Guerdoud and Keramane signatures, green specimen overprint in Arabic, specimen number 000134, in PMG holder 65 EPQ, gem uncirculated, the finest of only three graded by PMG, very scarce

BNB B406bs, Pick 142bs

£150-£200

£150-£200

289

BANQUE D’ALGERIE , specimen 1000 Dinars, 22 March 2005,

286 ALGERIA

BANQUE D’ALGERIE , specimen 1000 Dinars, 21 May 1992 (1995), serial number 00 000 00000, Guerdoud and Keramane signatures, green specimen overprint in Arabic, specimen number 001090, in PMG holder 58 EPQ, choice about uncirculated, very scarce with only six graded

by PMG

BNB B403as, Pick 139s

£120-£160

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

serial number 00 000 00000, Guerdoud and Laksaci signatures, green specimen overprint in Arabic on reverse, specimen number 002301, in PMG holder 64, choice uncirculated, very scarce, this being one of only four graded by PMG

BNB B407as, Pick 143s

£180-£220

B A NKNOT E S

290

BANQUE D’ALGERIE , specimen 2000 Dinars, 24 March 2011,

serial number 00 000 00000, Guerdoud and Laksaci signatures, red specimen overprint in Arabic, specimen number 00236, in PMG holder 58, choice about uncirculated, very scarce, this being one of only four graded

by PMG

BNB B408as, Pick 144s

£180-£220

292

ERROR: BANQUE D’ALGERIE , 200 Dinars, 21 May 1992 (1996), serial number 05 059 48949, Guerdoud and Laksaci signatures, with severe printing error on reverse involving massive over-inking of the brown elements, ink stamp, in PMG holder 55, about uncirculated, a curious error

BNB B402b, Pick 138

£120-£160

291

293

serial number 02 059 48935, Guerdoud and Laksaci signatures, with horrendous printing error on reverse involving massive over-inking of the brown and green elements, ink stamp, in PMG holder 55, about uncirculated, a rather striking error

serial number 04 0003 99991, Abbas and Laksaci signatures, with almost complete lack of print on obverse, in PMG holder 35, choice very fine, unusual and amusing

ERROR: BANQUE D’ALGERIE , 200 Dinars, 21 May 1992 (1996),

BNB B402b, Pick 138

ERROR: BANQUE D’ALGERIE , 2000 Dinars, 24 March 2011,

BNB B408a, Pick 144

£120-£160

£120-£160

294

BANQUE CENTRALE D’ALGERIE , 10 (2), 20 (3), 50, 100 (4), and 200 Dinars, 1977-83 series, and BANQUE D’ALGERIE, 100, 200, and 500 Dinars, 1992, 500 and 1000 Dinars, 1992-98, 1000 Dinars, 2005, 2000 Dinars (2), 2011, 500 (2) and 1000 (2) Dinars, 2018, 2000 Dinars, 2020, and 2000 Dinars (2), 2022, grades somewhat mixed, but the majority uncirculated, a few as low as very fine (26 notes)

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

ALGERIA

BNB B309-B314, B401-B403, B405-B408, B410-B413, Pick 130139, 141-144 £150-£200

B A NKNOT E S

ALG E RI A N TOWN I S S U E S

298

295

VILLE D’AFFREVILLE , 5 and 10 Centimes, 7 October 1917,

black print on pink and grey card respectively, circular handstamps on reverse, uncirculated (2 notes) £40-£50

VILLE D’AUMALE , 5 and 10 Centimes, 22 September 1917, black

print on green and khaki card respectively, handstamps on reverse, uncirculated (2 notes) £40-£50

296

CHAMBRE DE COMMERCE D’ALGER , 1 Franc, 3 September 1914, serial number 466 02421, and 50 Centimes (2), 13 January 1915 and 23 May 1923, serial numbers 383 04779 and E.30 04240, about uncirculated, uncirculated and very fine respectively, the last note a ‘radar’ serial number (3 notes) £80-£100

299

COMPAGNIE DE MOKTA-EL-HADID , DIRECTION DE BENISAF , 5 Centimes and 1 Franc, first with partial 1916 stamp on

reverse, second 25 August 1915, first with pinholes, light mounting traces, otherwise uncirculated, second stained, about uncirculated (2 notes) £80-£100

297

VILLE D’ALGER , 5 and 10 Centimes, 24 October 1916, and 5 and

10 Centimes, 9 March 1917, a few stains, overall uncirculated (4 notes)

ALGERIA

£60-£80

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

300

COMPAGNIE DE MOKTA-EL-HADID, DIRECTION DE BENISAF , 1 Franc, 25 August 1915, with ANNULE 20 June 1916 stamp, stains, good very fine and scarce £60-£80

B A NKNOT E S

301

COMPAGNIE DE MOKTA-EL-HADID, DIRECTION DE BENISAF , 2 Francs, 25 August 1915, with ANNULE 20 June 1916 stamp, stains and pinholes, good fine and scarce £60-£80

304 COMPAGNIE DE MOKTA-EL-HADID, DIRECTION DE BENISAF , 20 Francs, 4 August 1914, with ANNULE 20 June 1916 stamp, pinholes, good very fine and very scarce £70-£90

305

VILLE DE BLIDA , 5 and 10 Centimes, 5 October 1916, black print on grey and orange, uncirculated (2 notes) £60-£80

302 COMPAGNIE DE MOKTA-EL-HADID, DIRECTION DE BENISAF , 2 Francs, 25 August 1915, many pinholes, very fine and scarce £60-£80

306

VILLE DE BOGHARI , 5, 10, and 25 Centimes, ND (1916-18), black print on teal, cream and orange card, uncirculated (3 notes) £60-£80

303

COMPAGNIE DE MOKTA-EL-HADID, DIRECTION DE BENISAF , 5 Francs, 4 August 1914, fine and very scarce £70-£90

307

CHAMBRE DE COMMERCE, BOUGIE SETI f, 5 and 10 Centimes, 1916, also 50 Centimes and 1 Franc, 9 March 1918, serial numbers A.18 03202 and A.17 01701, last two with remains of stamp hinges, otherwise uncirculated (4 notes) £80-£100

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

308

CHERCHELL/CAESAREA , 5 (2) and 10 Centimes, ND (1916-18),

first two varying shades of red, second green, tan card, uncirculated (3 notes) £60-£80

311

COMMUNE DE DRA-EL-MIZAN , 5 and 10 Centimes, 27 February 1917, black print on tan and red card respectively, second with circular handstamp on reverse, uncirculated (2 notes) £60-£80

312

VILLE DE MARENGO , 5, 10, and 25 Centimes, 24 December

1916, black print on grey, orange, and pale yellow card respectively, first and last uncirculated, second very fine (3 notes) £70-£90

309

CHAMBRE DE COMMERCE DE CONSTANTINE , 5 and 10 Centimes, 12 October 1915, 1 Franc (2), 28 June 1921, serial numbers A31 301898 and A32 315137, also 1 Franc, 10 March 1922, serial number C1 22059, first two uncirculated, fourth fine, others very fine (5 notes) £80-£100

313

VILLE DE MEDEA , 5 Centimes, ND (1916), black print on green card, extremely fine, scarcer than most Algerian town issues £40-£50

310

CHAMBRE DE COMMERCE DE CONSTANTINE , cancelled/ specimen 50 Centimes and 1 Franc, 7 November 1916, series P16 and 46, black ANNULE overprints, some light toning, overall about uncirculated to uncirculated (2 notes) £60-£80

314

SYNDICAT DU COMMERCE ET DE L’INDUSTRIE DE LA REGION DE MOSTAGANEM , 5, 10, and 25 Centimes, ND

ALGERIA

(1915-16), first with red overprint obverse and reverse, second with serial number 5811, last with serial number 19973, black print on tan, green, and red card respectively, first two uncirculated, last about very fine (3 notes) £80-£100

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

315

CHAMBRE DE COMMERCE D’ORAN , 5 and 10 Centimes,

1916, black on grey and orange card respectively, second with red stripe overprinted, also canteen tokens for 10 and 20 Centimes, payable to Juan Bastos on Christopher Columbus road in Oran, ND, black on red card, both perforated PAYE, uncirculated (4 notes)

£50-£70

316

UNION DES COMMERCANTS D’ORLEANSVILLE , 5, 10, and 25 Centimes, ND (1916), black on grey, orange, and green card, mounting remnants on each, otherwise uncirculated (3 notes) £70-£90

317

COMMUNE DE OUED-EL-ALLEUG , 5 (2) and 10 (2) Centimes,

19 November 1916, black on green and mauve card respectively, each with purple handstamp on reverse, one with mounting traces, otherwise generally uncirculated (4 notes) £60-£80

ALGERIA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

320

VILLE DE SIDI-BEL-ABBES , 5, 10, and 25 Centimes, ND (1916), black print on blue, red, and tan card, with various handstamps and validation/cancellation marks, uncirculated (3 notes) £60-£80

318

COMMUNE DE PALESTRO , 5 Centimes, 19 November 1916,

black on pink card, handstamp on reverse, uncirculated and quite rare

£60-£80

321

ALGERIA , a small group of assorted items comprising an Algerian

319

CHAMBRE DE COMMERCE DE PHILIPPEVILLE , 5 and 10 Centimes, 7 October 1915, serial numbers 787510 and 270433, black on orange, and blue on tan card respectively, uncirculated (2 notes)

ALGERIA

£60-£80

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

National Liberation Army and Front, 500 Franc good for, ND (c.1950s60s), serial number 00015, a ticket for the French-Algerian Lottery, Al-Masoud branch, dated 1943, a railway ticket for 10 Centimes, serial number 404839 and what appears to be a Postal Order dated 1919, generally fine to very fine, an interesting and eclectic quartet (4 notes)

£80-£100

B A NKNOT E S

TUNI SI A

B A NQ U E D E L‘A LG E RI E A S C ARCE AN D E A R LY 5 FR A N CS O F 1 9 2 5

322

BANQUE DE L‘ALGERIE, TUNISIA , 5 Francs, 22 May 1925, serial number N.3791 524, Moyse

and Penalva signatures, black TUNISIE overprint, stains, small hole, but original paper, in PMG holder 45, choice extremely fine, a rare note and only three examples in higher grade on the PMG population report

T UN I S IA

BNB B201b, Pick 1b

£400-£500

B A NKNOT E S

A BE AUT IFUL PRO O F FO R THE 1 0 0 FR A N CS O F 1 9 1 1

323

BANQUE DE L‘ALGERIE, TUNISIA , obverse proof for 100 Francs, 8 November 1911, without serial number, Chenu, Moreau, and Pantin signatures, black TUNISIE overprint, pinholes, in PMG holder 55, about uncirculated, extremely rare in any form

BNB B204cp, Pick 4p1

£1,000-£1,500

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A S T UNN ING E XAMP L E O F A FUL LY- I SSUE D 5 0 0 FR A N CS O F 1 9 0 9

324 T UN I S IA

BANQUE DE L‘ALGERIE, TUNISIA , 500 Francs, 4 January 1909, serial number Z.2 127, Gantes, Moreau, and Jacquet signatures, black TUNISIE overprint at left, in PMG holder 50, about uncirculated, extremely rare, and a spectacular condition example

BNB B205b, Pick 5a

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£2,000-£2,600

B A NKNOT E S

A LOVELY SPE CI M E N 5 0 0 FR AN CS O F 1 9 2 4

325

BANQUE DE L‘ALGERIE, TUNISIA , specimen 500 Francs, ND (1924), serial number O.00 000, Moyse, Moreau, and Penalva signatures, overprinted TUNISIE, red SPECIMEN overprint, in PMG holder 63 EPQ, choice uncirculated, extremely rare with only three graded by PMG

BNB B205ds, Pick 5s

£1,500-£2,000

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

326

BANQUE DE L‘ALGERIE, TUNISIA , 500 Francs, 28 March 1924, serial number O.137 226, Moyse, Moreau, and Penalva signatures, black TUNISIE overprint, pinholes, in PMG holder 50, about uncirculated, only a single example graded higher by PMG, a rare note

BNB B205d, Pick 5b

£800-£1,000

327

BANQUE DE L‘ALGERIE, TUNISIA , 500 Francs, 20 March 1924, serial

number P.130 036, Moyse, Moreau, and Penalva signatures, black TUNISIE overprint, pinholes, tears, and minor rust, in PMG holder 25, very fine, scarce and attractive

T UN I S IA

BNB B205d, Pick 5b

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£300-£400

B A NKNOT E S

A GLORIOUS P RO O F FO R THE 1 0 0 0 FR AN CS O F 1 9 1 8

328

BANQUE DE L‘ALGERIE, TUNISIA , obverse proof for 1000 Francs, ND (1918), without serial number, Moyse, Moreau,

and Biron signatures, black TUNISIE overprint, in PMG holder 63 EPQ, choice uncirculated, exceptional grade, and the only example of a proof to be graded by PMG

BNB B206bp, Pick 7p1

£1,800-£2,400 A S C ARCE T RIO O F 1 0 0 0 FR A N CS O F 1 9 1 8 A N D 1 9 2 4

329

BANQUE DE L‘ALGERIE, TUNISIA , 1000 Francs, 4 November 1918, serial number S.2 131, Moyse,

BNB B206b, Pick 7a

£500-£700

T UN I S IA

Moreau, and Biron signatures, black TUNISIE overprint, pinholes, tears, and rust, in PMG holder 12, fine, rare in issued form, and only two graded higher by PMG, none of which exceed very fine grades, this is also the first date of issue

B A NKNOT E S

330

BANQUE DE L‘ALGERIE, TUNISIA , 1000 Francs, 15 March 1924, serial number B.114

144, Moyse, Moreau, and Penalva signatures, black TUNISIE overprint, pinholes, rust, and small tears, in PMG holder 25, very fine, very scarce

BNB B206c, Pick 7b

£440-£550

331

BANQUE DE L‘ALGERIE, TUNISIA , 1000 Francs, 24 April 1924, serial number B.147 448, Moyse, Moreau, and Penalva signatures, black TUNISIE overprint, pinholes, internal tear, in PMG holder 25, very fine, very scarce

T UN I S IA

BNB B206c, Pick 7b

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£440-£550

B A NKNOT E S

334

332

BANQUE DE L‘ALGERIE, TUNISIA , 20 Francs, 18 February

BANQUE DE L‘ALGERIE, TUNISIA , specimen 5 Francs, 3

June 1297 (1925-33), serial number O.0000 000, Moyse and Penalva signatures, black TUNISIE at right, red SPECIMEN overprint at left, minor rust, in PMG holder 63, choice uncirculated, one of only two examples graded by PMG, rare, with not a single record of sale evident at a major auction company

BNB B207as, Pick 8s

BNB B208a, Pick 6a

£300-£400

£300-£400

333

BANQUE DE L‘ALGERIE, TUNISIA , 5 Francs (3), 28 January

1941, 30 May 1941, and 31 May 1941, Roux and Sebald signatures, also 20 Francs (3), 10 February 1939, 6 May 1941, and 20 May 1941, first with Penalva and Archambaud signatures, others with Roux and Sebald signatures, several with tears or small pieces missing from margins, fine to very fine (6 notes)

BNB B207d, B208c,d, Pick 8b, 9b

1921, serial number C.1012 639, Biron and Moyse signatures, black TUNISIE overprint, pinholes and stains, but original paper, in PMG holder 25, very fine, a rare early date, with only three graded by PMG

£100-£150

335

BANQUE DE L‘ALGERIE, TUNISIA , specimen 20 Francs, ND

(1923-34), serial number O.0000 000, Penalva and Moyse signatures, black TUNISIE at right, red SPECIMEN overprint at left, in PMG holder 64 EPQ, choice uncirculated, the finest of only three graded by PMG, extremely rare

BNB B208bs, Pick 6s

£300-£400

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

336

BANQUE DE L‘ALGERIE, TUNISIA , 20 Francs, 3 May 1929,

serial number K.2987 651, Penalva and Moyse signatures, black TUNISIE at right, stains, in PMG holder 30, very fine, a scarcer 1920s date

BNB B208b, Pick 6b

£80-£100

A FA S CIN AT ING PI E CE O F WA RTI M E B A N KN OTE ART

337

BANQUE DE L‘ALGERIE, TUNISIA , 20 Francs, 7 February 1939, serial number U.3280 042, Penalva and

Archambaud signatures, black TUNISIE at right, with skilfully hand-drawn and painted decoration by or for a member of the British 1st Army, small hole at lower left, overall about very fine and highly unusual, a rare and attractive piece of wartime art

T UN I S IA

BNB B208c, Pick 6b

£200-£260

The British 1st Army landed in Algiers on the night of the 8th of November 1942 as part of Operation Torch, and represented the true entry of the United States of America into the western theatre of war, as well as the beginning of the end of the Nazi presence in North Africa.

The red text in the centre reads ‘Algiers 8th, Nov 1942 / 931, General Transport Coy.’, with a badge from the British 1st Army at lower left. The red and green marking and number at upper left denotes the Royal Electrical and Mechanical Engineers (REME) or the mechanical maintenance echelons of the Royal Army Ordnance Corps (RAOC).

REME was formed in October 1942 specifically to take over the heavy mechanical repair and recovery duties previously split among different corps. The number 548 designates an Army Troops Workshop or a Corps-level Recovery Section attached to a higher headquarters.

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

338

340

1939, 17 February 1939, and 19 September 1938, serial numbers X.3305 726, Y.3288 370, and G.3176 452, Penalva and Archambaud signatures, TUNISIE at right, in PMG holders 45 EPQ and 45, choice extremely fine, and 30, very fine, a great trio of notes (3 notes)

1941 and 30 April 1941, serial numbers P.3571 561 and N.3411 244, Sebald and Roux signatures, TUNISIE at right, in PMG holders 35 and 30, choice/very fine (2 notes)

BANQUE DE L‘ALGERIE, TUNISIA , 20 Francs (3), 14 March

BNB B208c, Pick 6b

£150-£200

BANQUE DE L‘ALGERIE, TUNISIA , 20 Francs (2), 11 November

BNB B208d, Pick 6b

£80-£100

339

341

1939, 20 February 1939, and 14 February 1939, serial numbers Z.3284 889, D.3289 407, and J.3285 419, Penalva and Archambaud signatures, TUNISIE at right, in PMG holders 35 EPQ, 35 EPQ and 35, choice very fine, and always nice to see a note issued on Valentine’s Day (3 notes)

1920, serial number P.363 974, Biron and Moyse signatures, black TUNISIE at right, pinholes, in PMG holder 25, very fine, scarce in grades higher than this and a very early date for type

BANQUE DE L‘ALGERIE, TUNISIA , 20 Francs (3), 13 February

BNB B208c, Pick 6b

BANQUE DE L‘ALGERIE, TUNISIA , 50 Francs, 2 December

BNB B210a, Pick 9

£150-£200

£120-£160

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

344

342

BANQUE DE L‘ALGERIE, TUNISIA , 500 Francs, 13 January

BANQUE DE L‘ALGERIE, TUNISIA , 50 Francs, 14 May 1936,

serial number Y.1400 232, Penalva and Archambaud signatures, black TUNISIE at right, pinholes, in PMG holder 15, choice fine, scarce

1942, serial number G.120 317, Sebald, Escallier, and Roux signatures, black TUNISIE at right, repaired, in PMG holder 30 NET, very fine, scarce, and only two graded higher by PMG, both of which are 40, extremely fine

BNB B210c, Pick 9

BNB B212c, Pick 14

£80-£100

£240-£300

343

345

serial number C.549 707, Penalva, Picard, and Moyse signatures, black TUNISIE at right, corner stain, pinholes, in PMG holder 25, very fine, with only three in higher grades on the PMG population report

1939, 14 June 1940, 24 July 1940, and 17 September 1941, Sebald and Roux signatures, TUNISIE at right, first two about very fine, last two in PMG holders 35, choice very fine, one with corner reattached, other with corner stain (4 notes)

BANQUE DE L‘ALGERIE, TUNISIA , 100 Francs, 5 January 1928,

£200-£260

T UN I S IA

BNB B211c, Pick 10a

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

BANQUE DE L‘ALGERIE, TUNISIA , 50 Francs (4), 30 October

BNB B214b, Pick 12a

£100-£150

B A NKNOT E S

348

346

BANQUE DE L‘ALGERIE, TUNISIA , 50 Francs (3), 31 March

1942, 1 March 1945, and 1 May 1945, Sebald and Roux signatures, second with Banque de l’Algerie watermark, others with female head watermark, TUNISIE at right, last with small tear and pinholes, in PMG holders 40, 35, and 35, extremely/choice very fine (3 notes)

BNB B214b,d,e, Pick 12a,b

BANQUE DE L‘ALGERIE, TUNISIA , 100 Francs, 19 April 1941, serial number J.534 136, Sebald, Escallier, and Roux signatures, female head watermark, black TUNISIE at right, in PMG holder 55, about uncirculated, scarce in this grade

BNB B215a, Pick 13a

£120-£160

£100-£150

347

349

1940, serial number K.334 634, Sebald, Escallier, and Roux signatures, female head watermark, black TUNISIE at right, in PMG holder 64 EPQ, choice uncirculated, only three better examples on the PMG population report, an exceptional note

1940, serial number A.341 733, Sebald, Escallier, and Roux signatures, female head watermark, black TUNISIE at right, in PMG holder 53, about uncirculated, scarce in this grade

BANQUE DE L‘ALGERIE, TUNISIA , 100 Francs, 24 August

BNB B215a, Pick 13a

BANQUE DE L‘ALGERIE, TUNISIA , 100 Francs, 2 September

BNB B215a, Pick 13a

£120-£160

£260-£320

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

352

BANQUE DE L‘ALGERIE, TUNISIA , 5 Francs (3), 8 February

350

BANQUE DE L‘ALGERIE, TUNISIA , 100 Francs (3), 19 August 1940, 20 March 1941, and 6 November 1939, Sebald, Escallier, and Roux signatures, female head watermarks, TUNISIE at right, first with minor foreign substance, in PMG holder 35, choice very fine, others about very fine (3 notes)

BNB B215a, Pick 13a

£100-£150

1944, prefixes A.11, R.191, and S.708, Berino and Sebald signatures, 20 Francs (6), 15 January 1943, date without letters, 18 November 1943, and 19 November 1943 (2), date flanked by letters, all Berino and Sebald signatures, also 2 February 1945 and 3 April 1945, Roux and Sebald signatures, and finally 1000 Francs, 2 November 1942, date flanked by letters, serial number F.880 701, Banque de l’Algerie watermark, original paper, all fine to very fine, a few edging into extremely fine (10 notes)

BNB B216a, B217a,b,c, B219c, Pick 15, 17, 18, 20

£150-£200

351

353

2-91-1421 (1942), serial number O.0000 000, Sebald, Escallier, and Roux signatures, Banque de l’Algerie watermark, black TUNISIE at right, red SPECIMEN overprints, previously mounted, with associated stains at corners, in PMG holder 62, uncirculated, rare

serial number N.3 647, Berino, Routaboul, and Sebald signatures, black TUNISIE at right, stains, in PMG holder 25, very fine, only three graded higher by PMG, a very scarce note regardless of grade

BANQUE DE L‘ALGERIE, TUNISIA , specimen 100 Francs,

£240-£300

T UN I S IA

BNB B215bs, Pick 13s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

BANQUE DE L‘ALGERIE, TUNISIA , 500 Francs, 17 March 1943,

BNB B218a, Pick 19

£200-£260

B A NKNOT E S

A LOV E LY E X A M PL E O F A 1 0 0 0 FR A N CS O F 1 9 4 1

354

BANQUE DE L‘ALGERIE, TUNISIA , 1000 Francs, 1 September 1941, serial number J.201 000, Sebald, Escallier, and Roux signatures, female head watermark and no letters flanking date, black TUNISIE at right, a superb, fresh and original note, about uncirculated, and scarce in this grade

BNB B219a, Pick 20

£400-£500

355

BANQUE DE L‘ALGERIE, TUNISIA , 1000 Francs, 21 January

1942, serial number T.320 907, Sebald, Escallier, and Roux signatures, female head watermark and no letters flanking date, black TUNISIE at right, pinholes, good very fine and scarce

BNB B219a, Pick 20

£150-£200

356

BANQUE DE L‘ALGERIE, TUNISIA , 1000 Francs on 100 Francs, 14 May 1892 (1943), serial number X.3 088, d’Anfreville, Billote, and Delmonte signatures, in PMG holder 63 EPQ, choice uncirculated

BNB B221a, Pick 31

£200-£260

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

357

BANQUE DE L‘ALGERIE, TUNISIA , 1000 Francs on 100 Francs, 16 May 1892 (1943), serial number S.4 456, d’Anfreville, Billote, and Delmonte signatures, in PMG holder 55 EPQ, about uncirculated

BNB B221a, Pick 31

£150-£200

A BE AUT IFUL GROUP O F PRO O FS FO R THE 2 0 FR AN CS O F 1 9 4 8

358

BANQUE DE L‘ALGERIE, TUNISIA , obverse proof showing an earlier stage design for the 20

Francs of 1948, without serial number or signatures, green, brown, and red, with a slightly larger format and marginally different underprint design, in PMG holder 64 EPQ, choice uncirculated, rare and attractive

T UN I S IA

BNB B222p, Pick 22p1

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£300-£400

B A NKNOT E S

359

361

BANQUE DE L‘ALGERIE, TUNISIA , obverse proof showing a

BANQUE DE L‘ALGERIE, TUNISIA , specimen 20 Francs, ND

design for the 20 Francs of 1948, without serial number or signatures, green, brown, and orange, with a slightly larger format, in PMG holder 58, choice about uncirculated, rare and attractive

(1948), serial number O.000 000, Couquet and Delahaye signatures, perforated SPECIMEN, in PMG holder 65 EPQ, gem uncirculated, only four examples in total graded by PMG, rare

BNB B222p, Pick 22p1

BNB B222s, Pick 22s

£300-£400

£180-£240

360

362

design for the 20 Francs of 1948, without serial number or signatures, green and black with parts of underprint missing, with a slightly larger format, pencil annotation and minor rust, in PMG holder 53, about uncirculated, rare

1948, serial numbers N.67 222 and Q.7 653, Couquet and Delahaye signatures, first with staple holes, in PMG holder 58, choice about uncirculated, second very good (2 notes)

BANQUE DE L‘ALGERIE, TUNISIA , obverse proof showing a

BNB B222p, Pick 22p1

BANQUE DE L‘ALGERIE, TUNISIA , 20 Francs (2), 4 June

BNB B222a, Pick 22

£70-£90

£240-£300

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

365 363

BANQUE DE L‘ALGERIE, TUNISIA , 100 Francs, 10 January

serial number X.238 144, Couquet and Delahaye signatures, minor stains, in PMG holder 64, choice uncirculated

BNB B223a, Pick 24

BANQUE DE L‘ALGERIE, TUNISIA , 20 Francs, 7 June 1948,

BNB B222b, Pick 22

1948, serial number B.344 096, Couquet and Delahaye signatures, rust, staple holes, in PMG holder 53, about uncirculated, scarce in high grades

£240-£300

£120-£160

364

366

(1946), serial number O.00 000, Couquet and Delahaye signatures, red SPECIMEN overprint, in PMG holder 66 EPQ, gem uncirculated, exceptional grade for type and indeed the joint-finest on the PMG population report

1947 and 25 January 1947, serial numbers J.187 069 and L.69 304, Couquet and Delahaye signatures, first with pinholes, in PMG holder 40, extremely fine, second about fine (2 notes)

BANQUE DE L‘ALGERIE, TUNISIA , specimen 100 Francs, ND

£240-£300

T UN I S IA

BNB B223as1, Pick 24s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

BANQUE DE L‘ALGERIE, TUNISIA , 100 Francs (2), 17 June

BNB B223a, Pick 24

£180-£240

B A NKNOT E S

A VERY INTERE STI N G 5 0 0 FR AN C PRO O F O N PAPE R

367

BANQUE DE L‘ALGERIE, TUNISIA , obverse proof showing a design for 500 Francs, ND (1946), with the

same basic design as the note issued in 1946, but several text differences on obverse, including the addition of Arabic text at upper centre, and a red TUNISIE overprint at lower centre instead of lower right, mounted on thick paper, with moderate amount of glue showing through, design slightly miscut before pasting down, in PMG holder 55, about uncirculated, exceptionally rare and a lovely item showing an earlier stage of the design process

BNB B224p, Pick 25p

£300-£400

368

BANQUE DE L‘ALGERIE, TUNISIA , specimen 500 Francs, ND

(1946), serial number O.000 000, Couquet and Delahaye signatures, in PMG holder 63, choice uncirculated, only one example graded higher by PMG, scarce

BNB B224as, Pick 25s

£260-£320

369

BANQUE DE L‘ALGERIE, TUNISIA , 1000 Francs, 5 September

BNB B225a, Pick 26

£260-£320

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

T UN I S IA

1946, serial number W.385 678, Couquet, Brunet, and Delahaye signatures, in PMG holder 40 EPQ, extremely fine, only three graded higher

by PMG, none of which have the coveted EPQ status, making this a real rarity and a lovely looking note

B A NKNOT E S

B AN Q UE D E L’A LG E RI E E T D E L A T U NI S I E

370

BANQUE DE L’ALGERIE ET DE LA TUNISIE , specimen 50

Francs, ND (1949), serial number O.00 000, Couquet and Delahaye signatures, SPECIMEN perforation, TUNIS at lower right margin, minor foreign substance, in PMG holder 64, choice uncirculated, very scarce

BNB B301as, Pick 23s

£300-£400

371

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 50 Francs, 3 February 1949, serial number T.103 784, Couquet and Delahaye signatures, without TUNIS at lower right, in PMG holder 25, very fine BNB B301b, Pick 23

£100-£150

A RARE S P E CIME N FO R THI S CL A SSI C D E SI G N O F 1 9 4 9

372

BANQUE DE L’ALGERIE ET DE LA TUNISIE , specimen 5000 Francs, ND (1949), serial number O.0 000, Civier, Flouret, and Delahaye signatures, perforated SPECIMEN, TUNIS at lower right margin, minor rust, in PMG holder 55, about uncirculated, very rare, and a hugely popular series

T UN I S IA

BNB B302s, Pick 27s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£1,000-£1,500

B A NKNOT E S

373

374

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5000 Francs,

13 October 1949, serial number V.5 152, Civier, Flouret, and Delahaye signatures, pinholes and minor rust, in PMG holder 20, very fine, scarce

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 500 Francs, 23 February 1950, serial number Z.150 439, Civier and Delahaye signatures, pinholes, in PMG holder 20, very fine, quite scarce

BNB B302a, Pick 27

BNB B303a, Pick 28

£260-£320

£260-£320

A S P E CIME N FOR T HE VE RY B E AUTI FUL 1 0 0 0 FR A N CS O F 1 9 5 0

375

BANQUE DE L’ALGERIE ET DE LA TUNISIE , specimen 1000 Francs, ND (1950), serial number O.00 000, Civier, Flouret, and Delahaye signatures, in PMG holder 63 EPQ, choice uncirculated, rare as a specimen, and in wonderful condition BNB B304as, Pick 29s

£400-£500

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

376

379

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 1000 Francs, 26

December 1950, serial number R.231 759, Civier, Flouret, and Delahaye signatures, date flanked by letters, in PMG holder 35, choice very fine

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5000 Francs, 12 February 1952, serial number P.240 627, Civier, Flouret, and Gandy signatures, minor stains, pinholes, in PMG holder 30, very fine

BNB B304b, Pick 29a

BNB B305b, Pick 30

£150-£200

£100-£150

RE G E NC Y O F T U NI S

377

BANQUE DE L’ALGERIE ET DE LA TUNISIE , specimen 5000 Francs, ND (1950), serial number O.00 000, Civier, Flouret, and Delahaye signatures, in PMG holder 58 EPQ, choice about uncirculated, very scarce BNB B305as, Pick 30s

£500-£700

380

REGENCY OF TUNIS , 50 Centimes, 16 February 1918, serial

number 005 40304, Decortier and Dubourdieu signatures, in PMG holder 55 EPQ, about uncirculated, only a single higher-grade example on the PMG population report

BNB B402a, Pick 32c

378

BANQUE DE L’ALGERIE ET DE LA TUNISIE , 5000 Francs, 17 June 1952, serial number E.326 914, Civier, Flouret, and Gandy signatures, in PMG holder 25 EPQ, very fine £100-£150

T UN I S IA

BNB B305b, Pick 30

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£120-£160

B A NKNOT E S

383

381

REGENCY OF TUNIS , 50 Centimes, 27 April 1918, serial number 011 05626, Decortier and Dubourdieu signatures, in PMG holder 63, choice uncirculated

BNB B403a, Pick 35

£120-£160

REGENCY OF TUNIS , 50 Centimes (2), 17 March 1919, serial

numbers 050 17426 and 063 47894, Decortier and Dubourdieu signatures, with both possible printer varieties for this date, in PMG holders 55, about uncirculated and 25, very fine, the latter with tape repair and signature annotation on reverse (2 notes)

BNB B403d,e, Pick 45a,b

382

REGENCY OF TUNIS , 50 Centimes, 4 November 1918, serial

number 039 46375, Decortier and Dubourdieu signatures, previously mounted, in PMG holder 53, about uncirculated

BNB B403c, Pick 42

£100-£150

£100-£150

384

REGENCY OF TUNIS , 1 Franc (2), 27 April 1918 (1918

watermarks), serial numbers 008 03235 and 021 38882, Decortier and Dubourdieu signatures, in PMG holders 55 EPQ, and 53, about uncirculated, the latter previously mounted and with pinholes (2 notes)

BNB B404h, Pick 36e

£120-£160

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

385

387

10450, Decortier and Dubourdieu signatures, corner stain lightened, in PMG holder 55, about uncirculated

10559, Decortier and Dubourdieu signatures, in PMG holder 64 EPQ, choice uncirculated, only a single better example graded by PMG, wonderful condition for type

REGENCY OF TUNIS , 1 Franc, 17 March 1919, serial number 050

BNB B404k, Pick 46e

£100-£150

REGENCY OF TUNIS , 2 Francs, 17 March 1919, serial number 037

BNB B405j, Pick 47a

£150-£200

388

386

REGENCY OF TUNIS , 2 Francs, 16 February 1918, serial number

REGENCY OF TUNIS , 2 Francs, 17 March 1919, serial number 048

BNB B405a, Pick 34

BNB B405j, Pick 47a

001 19543, Decortier and Dubourdieu signatures, internal splits, in PMG holder 25, very fine, first series, scarce

T UN I S IA

£80-£100

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

12237, Decortier and Dubourdieu signatures, in PMG holder 55, about uncirculated

£100-£150

B A NKNOT E S

389

391

087 24513, Haviller and Dubourdieu signatures, previously mounted, stain, in PMG holder 55, about uncirculated

091 00096, Decortier and Dubourdieu signatures, as-made ink, in PMG holder 65 EPQ, gem uncirculated, very few graded higher than this exceptional example, and a low number for this series

REGENCY OF TUNIS , 50 Centimes, 3 March 1920, serial number

BNB B406b, Pick 48a

£80-£100

REGENCY OF TUNIS , 1 Franc, 3 March 1920, serial number

BNB B407a, Pick 49

£200-£260

390

392

number 124 17384, Haviller and Mancier signatures, corner stain lightened, in PMG holder 63, choice uncirculated, the joint-finest graded example on the PMG population report

099 19536 and 157 46651, first Haviller and Dubourdieu signatures, second Haviller and Mancier signatures, first with annotation, in PMG holders 45, choice extremely fine, and 20, very fine (2 notes)

REGENCY OF TUNIS , 50 Centimes, 25 January 1921, serial

BNB B406d, Pick 51

£120-£160

REGENCY OF TUNIS , 1 Franc (2), 3 March 1920, serial numbers

BNB B407b,c, Pick 49

£100-£150

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

395

REGENCY OF TUNIS , a group of the 1943 issue comprising 50

Centimes (4), prefixes D, D, I, and J, 1 Franc (3), prefixes H, H, and W, and 2 Francs (6), prefixes A, E, F, H, H, and I, mixed grades, generally around very fine, but one of the 1 Franc notes uncirculated (13 notes)

393

BNB B409a-B411a, Pick 54-56

£100-£150

REGENCY OF TUNIS , 1 Franc, 25 January 1921, serial number

173 40437, Haviller and Mancier signatures, previously mounted, in PMG holder 62, uncirculated

BNB B407d, Pick 52

B A NQ U E CE NT RA LE D E T U NI S I E

£80-£100

396

BANQUE CENTRALE DE TUNISIE , specimen 1/2 Dinar, ND (1958), serial number A/1 000000, specimen number 11, Moalla and Nouira signatures, red SPECIMEN overprints and De La Rue ovals, mounting traces, in PMG holder 55, about uncirculated BNB B501as1, Pick 57s

394

REGENCY OF TUNIS , 2 Francs, 3 March 1920, serial number 059 02634, Decortier and Dubourdieu signatures, previously mounted, in PMG holder 62, uncirculated, scarce

£100-£150

T UN I S IA

BNB B408a, Pick 50

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£120-£160

B A NKNOT E S

397

BANQUE CENTRALE DE TUNISIE , 1/2 Dinar, ND (1958), serial number A/5 691215, Moalla and Nouira signatures, staple holes, otherwise lovely original paper, in PMG holder 64, choice uncirculated, rare in top grades, with only a single example graded higher by PMG BNB B501a, Pick 57

£200-£260

398

BANQUE CENTRALE DE TUNISIE , cancelled 1/2 Dinar, ND

399

BANQUE CENTRALE DE TUNISIE , cancelled 1 Dinar, ND (1958), serial number B/8 593592, Moalla and Nouira signatures, large red ANNULE stamp at centre right, pencil, in PMG holder 64, choice uncirculated, very unusual, and only one example graded higher by PMG BNB B502a, Pick 58

£200-£260

400

(1958), serial number A/2 504789, Moalla and Nouira signatures, large black ANNULE stamp at centre right, in PMG holder 64, choice uncirculated, highly unusual

BANQUE CENTRALE DE TUNISIE , 1 Dinar, ND (1958), serial number B/7 517120, Moalla and Nouira signatures, in PMG holder 53 EPQ, about uncirculated, a nice example

BNB B501a, Pick 57

BNB B502a, Pick 58

£200-£260

£120-£160

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A H IGHLY- UN USUA L CO LO UR TR I AL O F 1 9 5 8

401

BANQUE CENTRALE DE TUNISIE , colour trial 5 Dinars, ND (1958), serial number C/1 000000, specimen number 44, Moalla and Nouira signatures, red SPECIMEN overprints, two cancellation holes, previously mounted, in PMG holder 63, choice uncirculated, very rare as a colour trial BNB B503at, Pick 59cts

£400-£500

402

BANQUE CENTRALE DE TUNISIE , the original approved proof

for 5 Dinars, ND (1958), serial number C/1 123456, Moalla and Nouira signatures, single cancellation hole, with submitted and approved text in upper margin, in PMG holder 58, choice about uncirculated, very rare, if not unique in this format

£150-£200

T UN I S IA

BNB B503as, Pick 59s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

403

BANQUE CENTRALE DE TUNISIE , specimen 5 Dinars, ND (1958), serial number C/1 000000, Moalla and Nouira signatures, red SPECIMEN overprints, two cancellation holes, in PMG holder 64 EPQ, choice uncirculated, only one in higher grade on the PMG population report BNB B503as, Pick 59s

£150-£200

B A NKNOT E S

404

BANQUE CENTRALE DE TUNISIE , 5 Dinars (3), ND (1958), prefixes C/4, C/6, and C/7, Moalla and Nouira signatures, also 5 Dinars, 20 March 1962, serial number C/13 228466, Zouaoui and Nouira signatures, first three various degrees of very fine, last in PMG holder 35, choice very fine (4 notes) BNB B503a, B505a, Pick 59, 61

£100-£150

A S C ARCE CO LO UR TR I AL O F 1 9 6 0

405

BANQUE CENTRALE DE TUNISIE , colour trial 5 Dinars, ND (1960), serial number C/9 000000, specimen number 55, Moalla and Nouira signatures, red SPECIMEN overprints, two cancellation holes, previously mounted, in PMG holder 63, choice uncirculated, rare, with only three examples graded by PMG BNB B504at, Pick 60cts

£400-£500

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

406

BANQUE CENTRALE DE TUNISIE , obverse proof 5 Dinars, 1

November 1960, serial number 000000, Moalla and Nouira signatures, single cancellation hole, ink annotation in low margin, in PMG holder 55, about uncirculated, unique with the serial numbers having been pasted on by hand

BNB B504p, Pick 60p1

408

BANQUE CENTRALE DE TUNISIE , 5 Dinars, 1 November 1960, serial number C/9 294123, Moalla and Nouira signatures, stain, in PMG holder 58, choice about uncirculated BNB B504a, Pick 60

£100-£150

£180-£240

409

407

BANQUE CENTRALE DE TUNISIE , specimen 5 Dinars, 1

November 1960, serial number C/9 000000, Moalla and Nouira signatures, red SPECIMEN overprints and two cancellation holes, in PMG holder 63 EPQ, choice uncirculated, very scarce as a specimen, with only four examples graded by PMG

BANQUE CENTRALE DE TUNISIE , the original approved proof for 5 Dinars, 20 March 1962, serial number C/13 000000, Zouaoui and Nouira signatures, with original approved text in upper margin, in PMG holder 58 EPQ, choice about uncirculated, rare, if not unique in this exact format

BNB B504as, Pick 60s

BNB B505as, Pick 61s

T UN I S IA

£180-£240

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£150-£200

B A NKNOT E S

410

411

BANQUE CENTRALE DE TUNISIE , specimen 1/2 Dinar, 1 June

1965, serial number A/17 000000, Zouaoui and Nouira signatures, red SPECIMEN overprints, in PMG holder 65 EPQ, gem uncirculated

BANQUE CENTRALE DE TUNISIE , 1/2 Dinar, 1 June 1965, serial number A/5 373423, Zouaoui and Nouira signatures, in PMG holder 65 EPQ, gem uncirculated, a wonderful example

BNB B506as, Pick 62s

BNB B506a, Pick 62

£150-£200

£200-£260

A WONDE RFUL HA N D - PA I N TE D E SSAY FO R 1 D I N A R

412

BNB B507/B508, Pick 63/64 for similar

£600-£800

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

T UN I S IA

BANQUE CENTRALE DE TUNISIE , a hand-painted printer’s essay showing an obverse design for 1 Dinar, ND (c.1965), without signatures or serial number, Bourguiba at right, Sadiki College at left, Banque Centrale de Tunisie handstamps on both sides, in non-numeric PMG holder, unique and lovely, this being a cross between the designs chosen for the 1 and 5 Dinars of this denomination

B A NKNOT E S

413

415

BANQUE CENTRALE DE TUNISIE , specimen 1 Dinar, 1 June

1965, serial number B/1 000000, specimen number 59, Zouaoui and Nouira signatures, red SPECIMEN overprints and De La Rue ovals, two cancellation holes, previously mounted, in PMG holder 63, choice uncirculated

BANQUE CENTRALE DE TUNISIE , specimen 5 Dinars, 1 June 1965, serial number C/13 000000, specimen number 022, Zouaoui and Nouira signatures, red SPECIMEN overprints and De La Rue ovals, two cancellation holes, previously mounted, in PMG holder 63, choice uncirculated

BNB B507as, Pick 63s

BNB B508as2, Pick 64s

£150-£200

£150-£200

414

416

serial numbers B/13 100501 and B/19 121297, Zouaoui and Nouira signatures, first in PMG holder 58 EPQ, choice about uncirculated, second very fine (2 notes)

number C/8 116884, Zouaoui and Nouira signatures, in PMG holder 35 EPQ, choice very fine

BANQUE CENTRALE DE TUNISIE , 1 Dinar (2), 1 June 1965,

£120-£160

T UN I S IA

BNB B507a, Pick 63

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

BANQUE CENTRALE DE TUNISIE , 5 Dinars, 1 June 1965, serial

BNB B508a, Pick 64

£100-£150

B A NKNOT E S

S UP E RB HAND - PAI N TE D E SSAYS FO R 1 D I N AR

417

BANQUE CENTRALE DE TUNISIE , obverse and reverse hand-painted essays for 1 Dinar, 1 August 1972, serial number B/11 000000, Bousiba and (earlier) Zouaoui signatures, showing the same basic design elements as the issued note, but with different subject matter, both sides laid down on the same piece of board, in non-numeric PMG holder, unique, and a lovely record of the early design process £600-£800

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

T UN I S IA

BNB B511, Pick 67 for similar

B A NKNOT E S

H AN D - PAINTE D E SSAYS FO R 5 D I N AR S O F 1 9 7 2

418

BANQUE CENTRALE DE TUNISIE , obverse and reverse hand-painted essays for 5 Dinars, 1 August 1972, serial number C/16 000000, Bousiba and (earlier) Zouaoui signatures, showing almost entirely the same subject matter as the issued note, but with several minor differences in design, both sides laid down on the same piece of board, in non-numeric PMG holder, unique and an important record

T UN I S IA

BNB B512, Pick 68 for similar

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£600-£800

B A NKNOT E S

419

421

BANQUE CENTRALE DE TUNISIE , specimen 1/2, 1, and

5 Dinars, 3 August 1972, serial numbers A/1 000000, B/1 000000, specimen number 087, and C/1 000000, specimen number 056, Bousiba and Zouaoui signatures, red SPECIMEN overprints, the 1 and 5 Dinars with red De La Rue ovals and two cancellation holes, the 5 Dinars with mounting traces, in PMG holders 58 EPQ, 64, and 58, choice/ about uncirculated (3 notes)

BANQUE CENTRALE DE TUNISIE , specimen 1/2, 5, and 10 Dinars, 15 October 1973, serial numbers A/1 000000, C/1 000000, and D/1 000000, specimen number 030, Bousiba and Zouaoui signatures, red SPECIMEN overprints and last with red De La Rue ovals and two cancellation holes, in PMG holders 67 EPQ, superb gem uncirculated, 58, choice about uncirculated and 64, choice uncirculated, last with mounting traces (3 notes)

BNB B510as2-B512as2, Pick 66s-68s

BNB B513as1, B515as1, B516as2, Pick 69s, 71s, 72s £300-£400

£300-£400

422

BANQUE CENTRALE DE TUNISIE , replacement 1 (2) and 5 Dinars, 15 October 1973, serial numbers BR/1 026698, BR/1 026711, and CR/1 122015, Bousiba and Zouaoui signatures, in PMG holders 65 EPQ, 64, and 65 EPQ, gem/choice uncirculated, the 1 Dinar scarce, but the 5 Dinars very rare, with this being the only example on the PMG population report (3 notes) BNB B514az, B515az, Pick 70*, 71*

£240-£300

420

BANQUE CENTRALE DE TUNISIE , 1 Dinar (2), 3 August 1972, consecutive serial numbers B/1 000003-4, Bousiba and Zouaoui signatures, in PMG holders 65 EPQ and 64 EPQ, gem/choice uncirculated, a superb pair of extremely low serial numbers for this issue (2 notes) BNB B511a, Pick 67

£300-£400

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

423

BANQUE CENTRALE DE TUNISIE , groups of the 1972 and

1973 issues, comprising 1/2 (4), 1 (3), and 5 Dinars, 1972, and 1/2, 1 (4), 5, and 10 (2) Dinars, 1973, with three of the 1 Dinars 1973 having low or very low serial numbers B/1 000010, B/1 000013, and B/1 000870, latter three in PMG holders 63, 63, and 64, choice uncirculated, others a little mixed, with a few uncirculated examples, but mostly very fine to extremely fine (19 notes)

BNB B510a, Pick 66

426

BANQUE CENTRALE DE TUNISIE , specimen 10 Dinars, 15 October 1980, serial number D/8 000000, Sioud and Ghenima signatures, red SPECIMEN overprints, in PMG holder 64 EPQ, choice uncirculated, rare as a specimen BNB B519as, Pick 76s

£200-£260

£180-£240

427

424

BANQUE CENTRALE DE TUNISIE , specimen 1 Dinar, 15 October 1980, serial number B/1 000000, specimen number 0111, Sioud and Ghenima signatures, red SPECIMEN overprints, two small cancellation holes, in PMG holder 65 EPQ, gem uncirculated, very rare as a specimen, and the single-finest on the PMG population report BNB B517as, Pick 74s

BANQUE CENTRALE DE TUNISIE , specimen 20 Dinars, 15 October 1980, serial number E/1 000000, specimen number 0163, Sioud and Ghenima signatures, red SPECIMEN overprints, two small cancellation holes, in PMG holder 63, choice uncirculated, very rare as a specimen, with only three graded by PMG BNB B520as, Pick 77s

£200-£260

£200-£260

T UN I S IA

428

425

BANQUE CENTRALE DE TUNISIE , specimen 5 Dinars, 15 October 1980, serial number C/4 000000, Sioud and Ghenima signatures, red SPECIMEN overprints, in PMG holder 65 EPQ, gem uncirculated, rare as a specimen BNB B518as, Pick 75s

£200-£260

BANQUE CENTRALE DE TUNISIE , specimen 10 Dinars, 3 November 1983, serial number D/1 000000, Sioud and Ghenima signatures, red SPECIMEN overprints, in PMG holder 63 EPQ, choice uncirculated, very scarce BNB B522as1, Pick 80s

£200-£260

B A NKNOT E S

432

429

BANQUE CENTRALE DE TUNISIE , specimen 20 Dinars, 3 November 1983, serial number E/1 000000, specimen number 0168, Sioud and Ghenima signatures, red SPECIMEN overprints, two small cancellation holes, in PMG holder 66 EPQ, gem uncirculated, rare, and one of only four on the PMG population report BNB B523as, Pick 81s

£200-£260

BANQUE CENTRALE DE TUNISIE , specimen 30 Dinars, 7 November 1997, serial number F/1 0000000, specimen number 0186, Souayah and Hamda signatures, red SPECIMEN overprints and perforation, foreign substance, in PMG holder 58, choice about uncirculated, very scarce with this being one of only two examples ever graded by PMG BNB B529as, Pick 89s

£150-£200

430

BANQUE CENTRALE DE TUNISIE , specimen 10 Dinars, 20 March 1986, serial number D/1 000000, specimen number 0114, Sioud and Skhiri signatures, red SPECIMEN overprints and two cancellation holes, in PMG holder 64, choice uncirculated, rare as a specimen BNB B524as, Pick 84s

£200-£260

433

BANQUE CENTRALE DE TUNISIE , specimen 10 Dinars, 7 November 2005, serial number D/1 0000000, specimen number 0002, Zar and Baccar signatures, red SPECIMEN overprints and perforation, in PMG holder 67 EPQ, superb gem uncirculated, the finest of only three graded by PMG, quite rare BNB B531s, Pick 90s

£150-£200

431

BNB B528as, Pick 88s

T UN I S IA

BANQUE CENTRALE DE TUNISIE , specimen 20 Dinars, 7 November 1992, serial number E/1 0000000, specimen number 1202, Souayah and Hamda signatures, red SPECIMEN overprints and perforation, in PMG holder 55, about uncirculated, very scarce with only four examples graded by PMG £120-£160 All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

434

436

BANQUE CENTRALE DE TUNISIE , specimen 20 Dinars, 20

March 2011, serial number E/1 0000000, specimen number 0099, Saada and Nabili signatures, incorrect text, red SPECIMEN overprints and perforation, in PMG holder 65 EPQ, gem uncirculated, very rare, this being the only example on the PMG population report

BANQUE CENTRALE DE TUNISIE , specimen 5 Dinars, 20 March 2013, serial number C/1 0000000, specimen number 0064, Rekik and Nabili signatures, red SPECIMEN overprints and perforation, in PMG holder 67 EPQ, superb gem uncirculated, very rare, this being the only example ever graded by PMG

BNB B533s, Pick 93as

BNB B535s, Pick 95s

£200-£260

437

435

BANQUE CENTRALE DE TUNISIE , specimen 50 Dinars, 20

March 2011, serial number G/1 0000000, specimen number 0901, Saada and Nabili signatures, red SPECIMEN overprints and perforation, in PMG holder 65 EPQ, gem uncirculated, very rare, with this the only example on the PMG population report

£200-£260

T UN I S IA

BNB B534s, Pick 94as

£200-£260

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

BANQUE CENTRALE DE TUNISIE , specimen 10 Dinars, 20 March 2013, serial number D/1 0000000, specimen number 0070, Rekik and Nabili signatures, red SPECIMEN overprints and perforation, in PMG holder 66 EPQ, gem uncirculated, very rare, the only example on the PMG population report BNB B536s, Pick 96s

£200-£260

B A NKNOT E S

CO M PAG NI E D E G A F S A

438

BANQUE CENTRALE DE TUNISIE , specimen 20 Dinars, 25 July 2017, serial number E/0 0000000, specimen number 0405, Rekik and Nabili signatures, red SPECIMEN overprints, in PMG holder 67 EPQ, superb gem uncirculated, very rare, the only example graded by PMG BNB B539s, Pick 97s

£200-£260

440

COMPAGNIE DE GAFSA, TUNISIA , 50 Centimes, 10 May 1918, serial number 8243, two stamped signatures, remains of stamp hinge on reverse, otherwise about uncirculated to uncirculated, scarce

BNB and Pick unlisted

439

BANQUE CENTRALE DE TUNISIE , a group of later issues comprising 1 (2), 5 (3), 10 (2) including one replacement, and 20 Dinars, 1980, 5, 10, and 20 Dinars, 1983, and 10 Dinars, 1986, 5, 10, 20, and 30 Dinars, 1992-97 issue, 5, 10 (3), and 50 (3) Dinars, 2005-08 issue, 20 (3) and 50 Dinars, 2011, 5 (4) and 10 (2) Dinars, 2013, 20 Dinars (3), 2017, and 5, 10, and 50 Dinars, 2020-22 issue, generally uncirculated, a few a little worse, but a thoroughly useful group (39 notes) BNB B517a-B524a, Pick 74-77, 79-81, 84 et al

£70-£90

441

COMPAGNIE DE GAFSA, TUNISIA , 50 Centimes, 10 February 1916, serial number 7250, two stamped signatures, minor handling, overall uncirculated

BNB and Pick unlisted

£70-£90

£240-£300

442

COMPAGNIE DE GAFSA, TUNISIA , 1 Franc, 5 April 1918, serial number 19610, two stamped signatures, uncirculated

BNB and Pick unlisted

£70-£90

T UN I S IA

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

443

445

serial number 17343, two stamped signatures, uncirculated

serial number 9910, two stamped signatures, handling, thus about uncirculated to uncirculated

COMPAGNIE DE GAFSA, TUNISIA , 2 Francs, 5 April 1918, BNB and Pick unlisted

£70-£90

444

COMPAGNIE DE GAFSA, TUNISIA , 2 Francs, 5 January 1917,

BNB and Pick unlisted

£70-£90

COMPAGNIE DE GAFSA, TUNISIA , 2 Francs, 25 April 1916,

446

BNB and Pick unlisted

1915, serial number 5677, two stamped signatures, mounting traces, horizontal bend, thus extremely fine, scarce, and issued on Christmas Day!

serial number 5396, two stamped signatures, uncirculated

£70-£90

COMPAGNIE DE GAFSA, TUNISIA , 5 Francs, 25 December

BNB and Pick unlisted

447

U.S.G.E.R.A., TUNIS, TUNISIA , a partial booklet that originally contained coupons for a total of $3, ND (c.1960s-70s), serial number 2626, now containing one of each coupon for 5, 10, and 25 Cents, with cancellation holes, uncirculated, booklet in excellent condition, rare and interesting

T UN I S IA

BNB and Pick unlisted

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£50-£70

£70-£90

B A NKNOT E S

F RENCH SO MALI LAND B A NQ U E D E L’ I ND O - CH I NE

F REN CH S OMA LIL A ND

A S UP ERB SPE CI M E N 5 FR AN CS O F 1 9 0 5

448

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , specimen 5 Francs, 19 July 1905, serial number O.000 000, Hely and Simon signatures, perforated ANNULE, in PMG holder 55 EPQ, about uncirculated, a wonderful note in spectacular grade, and the earliest possible date for this type, as well as being one of only three examples graded by PMG

BNB B101as, Pick 1as All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£1,000-£1,500

B A NKNOT E S

A WON DE RF UL I SSUE D 5 FR AN CS DATE D 1 9 1 3

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , 5 Francs, 12 March 1913, serial number C.1 605, Hely and Simon signatures, pinholes, original paper, in PMG holder 20, very fine, only three graded by PMG, all of which are in very fine grades, extremely rare and the first date for this note that was actually put into circulation

BNB B101b, Pick 1a

£1,500-£2,000 All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

F REN CH SO MALIL AN D

449

B A NKNOT E S F REN CH S OMA LIL A ND

A V E RY S P ECIAL 5 0 CE N TI M E S W I TH SE R I A L N UM B E R 1 5

450

CHAMBRE DE COMMERCE DE DJIBOUTI, FRENCH SOMALILAND , 50 Centimes, 30 November 1919, serial number A 00015, Kevorkoff and one other signature, in PMG holder 64 EPQ, choice uncirculated, a remarkable note, in wonderful condition and with an extremely low serial number

BNB B205a, Pick 23

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£1,000-£1,500

B A NKNOT E S

451

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , 100 Francs, 2

January 1920, serial number Q.6 671, Hely and Simon signatures, overprinted on an earlier Tahiti note of 1914, some holes and tears, including a repaired tear at left, overall very good to about fine and scarce

BNB B104a, Pick 4

£100-£150

A RARE C A N CE L L E D 2 0 FR AN CS O F 1 9 2 1

452

and Thion signatures, black ANNULE stamp across face, in PMG holder 64 EPQ, choice uncirculated, rare, and only a single one of the 15 graded examples are better than this

BNB B106a, Pick 4B

£1,200-£1,600

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

F REN CH SO MALIL AN D

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , 20 Francs, 3 January 1921, serial number O.6 025, Montplenet

B A NKNOT E S

455

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , 5

453

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , 100 Francs, 2 January 1920 (1928), serial number T.6 784, Hely and Simon signatures, pinholes, in PMG holder 25, very fine

BNB B107a, Pick 5

£150-£200

Francs, ND (1927-41), serial number K.46 567, also 20 Francs (2), ND (1936 and 1941), serial numbers S.20 060 and R.21 526, first with blue, second with red text, all with Borduge and Baudouin signatures, first a clean and fresh good very fine, others good fine with considerable staining (3 notes)

BNB B108d, B109b, B110a, Pick 6b, 7, 7A

£100-£150

456

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND ,

454

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND ,

specimen 5 Francs, ND (1927-41), serial number O.00 000, Borduge and Baudouin signatures, perforated SPECIMEN, in PMG holder 66 EPQ, gem uncirculated

£300-£400

F REN CH S OMA LIL A ND

BNB B108ds, Pick 6bs

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

specimen 100 Francs, ND (1931), serial number O.00 000, Borduge and Baudouin signatures, perforated SPECIMEN, significant mounting remains on reverse at each corner, including glued-on card elements, and also small triangles cut away at left where removal was previously attempted, thus the note cannot really be described as better than extremely fine, but attractive enough on the obverse

BNB B112as, Pick 8s

£150-£200

B A NKNOT E S

A S P ECIMEN OF THE G LO R I O US 5 0 0 FR AN CS O F 1 9 2 7

457

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , specimen 500 Francs, 20 July 1927, serial number O.0 000, Simon and Thion signatures, in PMG holder 65 EPQ, gem uncirculated, a wonderful example of a beautiful note

BNB B114as, Pick 9as

£700-£900

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND ,

500 Francs, 20 July 1927, serial number Y.2 902, Simon and Thion signatures, piece missing from upper margin, fragile paper, overall fine and scarce

BNB B114a, Pick 9a

£120-£160

459

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND ,

1000 Francs, ND (1938), serial number Z.1 852, Borduge and Baudouin signatures, pinholes, in PMG holder 25, very fine, original and attractive

BNB B115a, Pick 10

£150-£200

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

F REN CH SO MALIL AN D

458

B A NKNOT E S

A WONDE RFUL E XAMP L E OF THE SC A RCE OVE R PR I N TE D 5 FR AN CS O F 1 9 4 3

460

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , 5 Francs, 1 January 1943, serial number A.71 318, Borduge and Baudouin signatures, with ‘F.C’ and antelope head overprint at upper right, in PMG holder 50 EPQ, about uncirculated, a very scarce wartime reissue in well-above-average grade and original paper, with only three graded higher by PMG

F REN CH S OMA LIL A ND

BNB B117a, Pick 11

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£400-£500

B A NKNOT E S

T HE FIN E S T- KN OWN E XAMP LE O F THE R A R E OVE R PR I N TE D 2 0 FR A N CS O F 1 9 4 3

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , 20 Francs, ND (1943), serial number N.26 413, Borduge and

Baudouin signatures, with ‘B.I.C. Djibouti’ overprint at upper right, in PMG holder 50, about uncirculated, by far the finest of the mere 12 examples of this overprinted wartime issue graded by PMG, an exceptional note

BNB B119a, Pick 12A

£1,500-£2,000

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

F REN CH SO MALIL AN D

461

B A NKNOT E S

462

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , 5 Francs, ND

(1945), serial number F.39 0465, Borduge and Baudouin signatures, in PMG holder 40 EPQ, extremely fine, scarcely to be found in anything above very fine, a lovely original example

BNB B126a, Pick 14a

£200-£260

A RARE S PE CI M E N 1 0 0 FR AN CS O F 1 9 4 5

463

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , specimen 100 Francs, ND (1945), serial

F REN CH S OMA LIL A ND

number A.1 0059, Borduge and Baudouin signatures, hand-written SPECIMEN across face, perforated PAYE, rust, in PMG holder 53, about uncirculated

BNB B128as, Pick 16s

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£500-£700

B A NKNOT E S

AN AT T RAC T IV E S PE CI M E N FO R THE 5 0 0 FR AN CS O F 1 9 4 5

464

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , specimen 500 Francs, ND (1945), serial number T.1 0014, Borduge and Baudouin signatures, ANNULE stamp and five cancellation holes, in PMG holder 55, about uncirculated, scarce

BNB B129as, Pick 17as

£600-£800

F REN CH SO MALIL AN D

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

A S UP E RB E XAMPL E O F A FUL LY- I SSUE D 5 0 0 FR AN CS

465 F REN CH S OMA LIL A ND

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , 500 Francs, ND (1945), serial number V.2 0456, Borduge and Baudouin signatures, minor paper damage, in PMG holder 25, very fine, only a handful in higher grades, many of which have handstamps across the face, whereas this is an extremely rare issued and uncancelled example

BNB B129a, Pick 17a

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£1,500-£2,000

B A NKNOT E S

A B E AUTIFUL 1 0 0 0 FR AN CS SPE CI M E N O F 1 9 4 5

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , specimen 1000 Francs, ND (1945), serial number M.2 0110, Borduge and Baudouin signatures, ANNULE handstamp, four cancellation holes, staple holes, in PMG holder 58, choice about uncirculated, a rare note and an eternally-popular design

BNB B130as, Pick 18as

£1,000-£1,500

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

F REN CH SO MALIL AN D

466

B A NKNOT E S

467

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND ,

specimen 10 Francs, ND (1946), serial number O.00 000, Minost and Laurent signatures, SPECIMEN perforation, printer’s annotation, in PMG holder 63, choice uncirculated, scarce

BNB B131as, Pick 19s

£100-£150

468

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , 10 Francs, ND (1946), serial number X.35 122, Minost and Laurent signatures, previously mounted, in PMG holder 55, about uncirculated

BNB B131a, Pick 19

£200-£260

469 F REN CH S OMA LIL A ND

BANQUE DE L’INDO-CHINE, FRENCH SOMALILAND , 100 Francs, ND (1946), serial

number C.43 655, Minost and Laurent signatures, 30mm tear at right, from lower margin and running along right margin, minor rust, in PMG holder 25, very fine, scarce in any condition

BNB B132a, Pick 19A

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£200-£260

B A NKNOT E S

470

472

TRESOR PUBLIC, FRENCH SOMALILAND , 50 Francs, ND

(1952), serial number Y.17 169, without signatures, in PMG holder 67 EPQ, superb gem uncirculated

TRESOR PUBLIC, FRENCH SOMALILAND , 500 Francs, ND (1952), serial number D.24 701, without signatures, stains, in PMG holder 63, choice uncirculated, a scarce note in nice grade

BNB B301a, Pick 25

BNB B303a, Pick 27

£120-£160

£260-£320

T RESOR P UB LI C

471

TRESOR PUBLIC, FRENCH SOMALILAND , 100 Francs, ND

(1952), serial number O.146 608, without signatures, in PMG holder 64, choice uncirculated

BNB B302a, Pick 26

£150-£200

473

TRESOR PUBLIC, FRENCH SOMALILAND , specimen 1000 Francs, ND (1952), serial number O.000 000, without signatures, perforated SPECIMEN, black ‘SPECIMEN No 0043’ overprint, in PMG holder 65 EPQ, gem uncirculated BNB B304as, Pick 28s

£200-£260

F REN CH SO MALIL AN D

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

474

TRESOR PUBLIC, FRENCH SOMALILAND , 1000 Francs, ND (1952), serial number T.6 867, without signatures, small tears, in PMG holder 53, about uncirculated BNB B304a, Pick 28

£300-£400

F REN CH S OMA LIL A ND

A S UP E R B 5 0 0 0 FR A N CS O F 1 9 5 2

475

TRESOR PUBLIC, FRENCH SOMALILAND , 5000 Francs, ND (1952), serial number P.3 705, without signatures, in PMG holder 25, very fine, a very scarce note and a truly beautiful design BNB B305a, Pick 29

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£500-£700

B A NKNOT E S

F R ENCH AFARS & I SSAS

T RESOR P UB LI C T E RRI TO I RE D E S A FA R S E T D E S I S S A S

476

TRESOR PUBLIC TERRITOIRE DES AFARS ET DES ISSAS , 5000 Francs, ND (1969), serial number K.17 045, without signature, minor repairs involving a tiny nick in lower margin, in PMG holder 25, very fine

F REN CH AFAR S & I S SA S

BNB B101a, Pick 30

£150-£200

477

TRESOR PUBLIC TERRITOIRE DES AFARS ET DES ISSAS , 500 Francs, ND (1973), serial number A.36 401, without signature, in PMG holder 64, choice uncirculated BNB B102a, Pick 31

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£240-£300

B A NKNOT E S

478

TRESOR PUBLIC TERRITOIRE DES AFARS ET DES ISSAS , 1000 Francs, ND (1974), serial number M.89 157, without signature, in PMG holder 63, choice uncirculated BNB B103a, Pick 32

£400-£500

TRESOR PUBLIC TERRITOIRE DES AFARS ET DES ISSAS , 500 Francs, ND (1975), serial number B.1 92529, without signature, in PMG holder 66 EPQ, gem uncirculated BNB B104a, Pick 33

£150-£200

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

F REN CH AFA R S & I S SA S

479

B A NKNOT E S

480

TRESOR PUBLIC TERRITOIRE DES AFARS ET DES ISSAS , 1000 Francs, ND (1975), serial number F.1 22197, without signature, in PMG holder 64 EPQ, choice uncirculated BNB B105a, Pick 34

£150-£200

481

TRESOR PUBLIC TERRITOIRE DES AFARS ET DES ISSAS , 5000 Francs, ND (1975), serial number A.1 22369, without signature, in PMG holder 35 EPQ, choice very fine

F REN CH AFAR S & I S SA S

BNB B106a, Pick 35

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£100-£150

B A NKNOT E S

DJ I BOUTI

B AN QUE NAT I O NA LE D E D J I B O U T I

482

483

BANQUE NATIONALE DE DJIBOUTI , specimen 1000 Francs,

ND (1991), serial number O.000 00000, without signature, in PMG holder 66 EPQ, gem uncirculated, very scarce as a specimen

BANQUE NATIONALE DE DJIBOUTI , specimen 5000 Francs, ND (1979), serial number O.00 00000, Aden signature, in PMG holder 66 EPQ, gem uncirculated, rare as a specimen

BNB B102cs, Pick 37cs

BNB B103bs, Pick 38s

£200-£260

£240-£300

484

BANQUE NATIONALE DE DJIBOUTI , 10,000 Francs, ND (1984), serial number O.000 000000, Aden signature, in PMG holder 66 EPQ, gem uncirculated, very rare with only a handful of proofs and specimens graded by PMG

DJIBO UT I

BNB B104bs, Pick 39bs

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£300-£400

B A NKNOT E S

485

BANQUE NATIONALE DE DJIBOUTI , 500, 1000, and 5000

Francs, ND (1979), serial numbers E.1 69572, L.1 18881 and J.1 52332, without signatures, first two uncirculated, last in PMG holder 64 EPQ, choice uncirculated (3 notes)

BNB B101a-B103a, Pick 36a-38a

£100-£150

486

BANQUE NATIONALE DE DJIBOUTI , 500 Francs (2), ND

(1988), prefixes B.002 and C.002, Aden signatures, 1000 Francs (2), ND (1991), prefixes F.002 and T.004, Aden and Haid signatures respectively, also 5000 Francs, ND (1979), prefix C.004, Haid signature, first four uncirculated, last in PMG holder 65 EPQ, gem uncirculated (5 notes)

BNB B101b, B102c,e, B103d, Pick 36b, 37c,e, 38b

487

BANQUE NATIONALE DE DJIBOUTI , 10,000 Francs, ND (1984), serial number H.001 52612, without signature, in PMG holder 58 EPQ, choice about uncirculated BNB B104a, Pick 39a

£150-£200

488

BANQUE NATIONALE DE DJIBOUTI , 10,000 Francs, ND (1984), serial number U.001 65192, Aden signature, in PMG holder 67 EPQ, superb gem uncirculated BNB B104b, Pick 39b

£100-£150

£100-£150

DJIBO UT I

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

B A NKNOT E S

489

BANQUE NATIONALE DE DJIBOUTI , 2000 Francs, ND (1997), serial number A.001 48945, and 10,000 Francs (2), ND (1999), serial numbers Q.001 90824 and Q.001 65769, Haid signature, uncirculated (3 notes) BNB B105a, B106a, Pick 40, 41

£100-£150

B AN Q U E CE NT RA LE D E D J I B O U T I

490

BANQUE CENTRALE DE DJIBOUTI , 1000 Francs, 2005, 2000 Francs (2), ND (2008), 5000 Francs (2), ND (2002), and 10,000 Francs (2), ND (2009), all with Haid signature, uncirculated (7 notes)

BNB B201a, B202a, B203b, B204a, Pick 42-45

DJIBO UT I

End of Sale

All lots are subject to extra charges which may be viewed in Terms and Conditions 3, 4 and 10 at the back of this catalogue.

£120-£160

B COMMISSION FORM THE K ANA AN COLLEC TION OF NORTH AFRIC AN B ANKNOTES: PART I 1 OC TOB ER 2026

Please bid on my behalf at the above sale for the following Lot(s) up to the price(s) mentioned overleaf. These bids are to be executed as cheaply as is permitted by other bids or any reserve.

I understand that in the case of a successful bid, a premium of 24 per cent (plus VAT if delivered or collected within the UK) will be payable by me on the hammer price of all lots.

Please see the Terms and Conditions of Business for any other charges which may be applicable.

Please ensure your bids comply with the steps outlined below: Up to £200 by £10 £200 to £500 by £20 £500 to £1,000 by £50 £1,000 to £2,000 by £100 £2,000 to £5,000 by £200 £5,000 to £10,000 by £500 £10,000 to £20,000 by £1,000 £20,000 to £50,000 by £2,000 Bids of unusual amounts will be rounded down to the bid step below and will not take precedence over a similar bid unless received first.

NOTE: All bids placed other than via our website should be received by 4 PM on the day prior to the sale. Although we will endeavour to execute any late bids, Noonans cannot accept responsibility for bids received after that time. It is strongly advised that you use our online Advance Bidding Facility. If you have a valid email address bids may be entered, and amended or cancelled, online at www.noonans.co.uk right up until a lot is offered. You will receive a confirmatory email for all bids and amendments, Bids posted to our office using this form will be entered by our staff using the same Advance Bidding Facility. There is, therefore, no better way of ensuring the accuracy of your advance bids than to place them yourself online.

I confirm that I have read and agree to abide by the Terms and Conditions of Business in the catalogue.

SIGNED NAME (block capitals)

CLIENT CODE

ADDRESS TELEPHONE

EMAIL

If successful, payment can be made in the following ways: Credit/Debit card online via www.noonans.co.uk Bank Transfer Bankers: Lloyds; Sort code: 30-96-64; Account No.: 00622865; Swift Code: LOYDGB2L; IBAN: GB70LOYD30966400622865; BIC: LOYDGB21085 Cheque payable to Noonans Cash up to a maximum of £5,000 All payments to be made in pounds sterling.

Please note payment is due within five working days of the end of the auction.

YOUR BIDS MAY BE PL ACED OVERLE AF

NO O NA N S • 1 6 BOLTON S T RE E T MAY FAIR LO NDO N W 1 J 8 B Q • T. 0 2 0 7 0 16 1 7 0 0 • W W W. NO O N A N S .CO. UK

B COMMISSION FORM THE K ANA AN COLLEC TION OF NORTH AFRIC AN B ANKNOTES: PART I 1 OC TOB ER 2026 If you wish to place a ‘plus one’ bid, please write ‘+1’ next to the relevant bid LOT NO.

£ BID

LOT NO.

£ BID

LOT NO.

£ BID

SALEROOM NOTICES: Any Saleroom Notices relevant to this auction are automatically posted on the Lot Description pages on our website.

Prospective buyers are strongly advised to consult the site for updates.

SUCCESSFUL BIDS Should you be a successful bidder you will receive an invoice detailing your purchases. All purchases are sent by registered post unless otherwise instructed, for which a minimum charge of £12.00 (plus VAT if resident in the UK) will be added to your invoice.

All payments for purchases must be made in pounds sterling. Please check your bids carefully.

PRICES RE ALISED The hammer prices bid at the auction are posted on the Internet at www.noonans.co.uk in real time. A full list of prices realised appear on our website as the auction progresses. Telephone enquiries are welcome from 9 AM the following day.

T ERM S A ND CO ND I T I O N S O F B U S I NE S S CO N DITIO NS M AINLY CO N CER NING BU YER S 1 The buyer The highest bidder shall be the buyer at the ‘hammer price’ and any dispute shall be settled at the auctioneer’s absolute discretion. Every bidder shall be deemed to act as principal unless there is in force a written acknowledgement by Noonans Mayfair Ltd. (“Noonans”) that he acts as agent on behalf of a named principal. Bids will be executed in the order that they are received.

2 Minimum increment The auctioneer shall have the right to refuse any bid which does not conform to Noonans’ published bidding increments which may be found at noonans.co.uk and in the bidding form included with the auction catalogue.

3 The premium The buyer shall pay to Noonans a premium of 24% on the ‘hammer price’ and agrees that Noonans, when acting as agent for the seller, may also receive commission from the seller in accordance with Condition 16.

4 Value Added Tax (VAT) The buyers’ premium is subject to the current rate of Value Added Tax if the lot is delivered to or collected by the purchaser within the UK. Lots marked ‘X’ are subject to importation VAT of 5% on the hammer price unless re-exported outside the UK, as per the conditions below.

Buyers who wish to hand carry their lots to export them from the UK will be charged VAT at the prevailing rate and importation VAT(where applicable) and will not be able to claim a VAT refund.

Buyers will only be able to secure a VAT free invoice and/or VAT refund if the goods are exported by Noonans or a pre-approved commercial shipper. Where the buyer instructs a pre-approved commercial shipper, proof of correct export out of the UK must be provided to Noonans by the buyer within 30 days of export and no later than 90 days from the date of the sale.

Refunds are subject to a £50 administrative fee.

Lots marked ‘††’ are subject to the Standard Rate of VAT, currently 20%, on both the hammer price and buyers’ premium.

VAT can only be removed from the hammer price, if goods are exported by Noonans or a preapproved commercial shipper as per above.

All lots will be subject to VAT on the buyers’ premium regardless of whether the lot is exported.

5. Artist’s Resale Rights (Droit de Suite) Lots marked ARR in the catalogue indicate lots that may be subject to this royalty payment.

The royalty will be charged to the buyer on the ‘hammer price’ and is in addition to the buyers’ premium. Royalties are charged on a sliding percentage scale as shown below but do not apply to lots where the hammer price is less than 1000 pounds sterling. All royalty charges are paid in full to The Design and Artists Copyright Society (DACS).

Portion of the hammer price From 0 to £50,000 From £50,000.01 to £200,000 From £200,000.01 to £350,000 From £350,000.01 to £500,000 Exceeding £500,000

Royalties 4% 3% 1% 0.5% 0.25%

VAT does not apply to the Artist’s Resale Rights.

more of the following rights and remedies:

6 Payment When a lot is sold the buyer shall:

(a) to proceed against the buyer for damages for breach of contract. (b) to rescind the sale of that or any other lots sold to the defaulting buyer at the same or any other auction. (c) to re-sell the lot or cause it to be re-sold by public auction or private sale and the defaulting buyer shall pay to Noonans any resulting deficiency in the ‘total amount due’ (after deduction of any part payment and addition of re-sale costs) and any surplus shall belong to the seller. (d) to remove, store and insure the lot at the expense of the defaulting buyer and, in the case of storage, either at Noonans’ premises or elsewhere. (e) to charge interest at a rate not exceeding 2 percent per month on the ‘total amount due’ to the extent it remains unpaid for more than 5 working days after the day of the auction. (f) to retain that or any other lot sold to the same buyer at the sale or any other auction and release it only after payment of the ‘total amount due’. (g) to reject or ignore any bids made by or on behalf of the defaulting buyer at any future auctions or obtaining a deposit before accepting any bids in future. (h) to apply any proceeds of sale then due or at any time thereafter becoming due to the defaulting buyer towards settlement of the ‘total amount due’ and to exercise a lien on any property of the defaulting buyer which is in Noonans’ possession for any purpose.

(a) confirm to Noonans his or her name and address and, if so requested, give proof of identity; and (b) pay to Noonans the ‘total amount due’ in pounds sterling within five working days of the end of the sale (unless credit terms have been agreed with Noonans before the auction). Please note that we will not accept cash payments in excess of £5,000 (five thousand pounds) in settlement for purchases made at any one auction.

7 Noonans may, at its absolute discretion, agree credit terms with the buyer before an auction under which the buyer will be entitled to take possession of lots purchased up to an agreed amount in value in advance of payment by a determined future date of the ‘total amount due’.

8 Any payments by a buyer to Noonans may be applied by Noonans towards any sums owing from that buyer to Noonans on any account whatever, without regard to any directions of the buyer, his or her agent, whether expressed or implied.

9 Collection of purchases The ownership of the lot(s) purchased shall not pass to the buyer until he or she has made payment in full to Noonans of the ‘total amount due’ in pounds sterling.

10 (a) The buyer shall at his or her own expense take away the lot(s) purchased not later than 5 working days after the day of the auction but (unless credit terms have been agreed in accordance with Condition 7) not before payment to Noonans of the ‘total amount due’. (b) The buyer shall be responsible for any removal, storage and insurance charges on any lot not taken away within 5 working days after the day of the auction. (c) The packing and handling of purchased lots by Noonans staff is undertaken solely as a courtesy to clients and, in the case of fragile articles, will be undertaken only at Noonans’ discretion. In no event will Noonans be liable for damage to glass or frames, regardless of the cause. Bulky lots or sharp implements, etc., may not be suitable for in-house shipping.

11 Buyers’ responsibilities for lots purchased The buyer will be responsible for loss or damage to lots purchased from the time of collection or the expiry of 5 working days after the day of the auction, whichever is the sooner. Neither Noonans nor its servants or agents shall thereafter be responsible for any loss or damage of any kind, whether caused by negligence or otherwise, while any lot is in its custody or under its control.

Loss and damage warranty cover at the rate of 1.5% will be applied to any lots despatched by Noonans to destinations outside the UK, unless specifically instructed otherwise by the consignee.

12 Remedies for non-payment or failure to collect purchase If any lot is not paid for in full and taken away in accordance with Conditions 6 and 10, or if there is any other breach of either of those Conditions, Noonans as agent of the seller shall, at its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise one or

13 Liability of Noonans and sellers (a) Goods auctioned are usually of some age.

All goods are sold with all faults and imperfections and errors of description. Illustrations in catalogues are for identification only. Buyers should satisfy themselves prior to the sale as to the condition of each lot and should exercise and rely on their own judgement as to whether the lot accords with its description. Subject to the obligations accepted by Noonans under this Condition, none of the seller, Noonans, its servants or agents is responsible for errors of descriptions or for the genuineness or authenticity of any lot. No warranty whatever is given by Noonans, its servants or agents, or any seller to any buyer in respect of any lot and any express or implied conditions or warranties are hereby excluded. (b) Any lot which proves to be a ‘deliberate forgery’ may be returned by the buyer to Noonans within 15 days of the date of the auction in the same condition in which it was at the time of the auction, accompanied by a statement of defects, the number of the lot, and the date of the auction at which it was purchased. If Noonans is satisfied that the item is a ‘deliberate forgery’ and that the buyer has and is able to transfer a good and marketable title to the lot free from any third party claims, the sale will be set aside and any amount paid in respect of the lot will be refunded, provided that the buyer shall have no rights under this Condition if: (i) the description in the catalogue at the date of the sale was in accordance with the then generally accepted opinion of scholars and experts or fairly indicated that there was a conflict of such opinion; or (ii) the only method of establishing at the date of publication of the catalogue that the lot was a

‘deliberate forgery’ was by means of scientific processes not generally accepted for use until after publication of the catalogue or a process which was unreasonably expensive or impractical. (c) A buyer’s claim under this Condition shall be limited to any amount paid in respect of the lot and shall not extend to any loss or damage suffered or expense incurred by him or her. (d) The benefit of the Condition shall not be assignable and shall rest solely and exclusively in the buyer who, for the purpose of this condition, shall be and only be the person to whom the original invoice is made out by Noonans in respect of the lot sold.

CO N DITIONS M AINLY CONCERN ING SE L L E R S AND CO NS IGNOR S 14 Warranty of title and availability The seller warrants to Noonans and to the buyer that he or she is the true owner of the property or is properly authorised to sell the property by the true owner and is able to transfer good and marketable title to the property free from any third party claims. The seller will indemnify Noonans, its servants and agents and the buyer against any loss or damage suffered by either in consequence of any breach on the part of the seller.

15 Reserves The seller shall be entitled to place, prior to the first day of the auction, a reserve at or below the low estimate on any lot provided that the low estimate is more than £100. Such reserve being the minimum ‘hammer price’ at which that lot may be treated as sold. A reserve once placed by the seller shall not be changed without the consent of Noonans. Noonans may at their option sell at a ‘hammer price’ below the reserve but in any such cases the sale proceeds to which the seller is entitled shall be the same as they would have been had the sale been at the reserve. Where a reserve has been placed, only the auctioneer may bid on behalf of the seller.

16 Authority to deduct commission and expenses The seller authorises Noonans to deduct commission at the ‘stated rate’ and ‘expenses’ from the ‘hammer price’ and acknowledges Noonans’ right to retain the premium payable by the buyer.

17 Rescission of sale If before Noonans remit the ‘sale proceeds’ to the seller, the buyer makes a claim to rescind the sale that is appropriate and Noonans is of the opinion that the claim is justified, Noonans is authorised to rescind the sale and refund to the buyer any amount paid to Noonans in respect of the lot.

18 Payment of sale proceeds Noonans shall remit the ‘sale proceeds’ to the seller 35 days after the auction, but if by that date Noonans has not received the ‘total amount due’ from the buyer then Noonans will remit the sale proceeds within five working days after the date on which the ‘total amount due’ is received from the buyer. If credit terms have been agreed between Noonans and the buyer, Noonans shall remit to the seller the sale proceeds 35 days after the auction unless otherwise agreed by the seller.

19 If the buyer fails to pay to Noonans the ‘total amount due’ within 35 days after the auction, Noonans will endeavour to notify the seller and take the seller’s instructions as to the appropriate course of action and, so far as in Noonans’ opinion is practicable, will assist the seller to recover the

‘total amount due’ from the buyer. If circumstances do not permit Noonans to take instructions from the seller, the seller authorises Noonans at the seller’s expense to agree special terms for payment of the ‘total amount due’, to remove, store and insure the lot sold, to settle claims made by or against the buyer on such terms as Noonans shall in its absolute discretion think fit, to take such steps as are necessary to collect monies due by the buyer to the seller and if necessary to rescind the sale and refund money to the buyer if appropriate.

20 If, notwithstanding that, the buyer fails to pay to Noonans the ‘total amount due’ within 35 days after the auction and Noonans remits the ‘sale proceeds’ to the seller, the ownership of the lot shall pass to Noonans.

21 Charges for withdrawn lots Where a seller cancels instructions for sale, Noonans reserve the right to charge a fee of 15% of Noonans’ then latest middle estimate of the auction price of the property withdrawn, together with Value Added Tax thereon if the seller is resident in the UK, and ‘expenses’ incurred in relation to the property.

22 Rights to photographs and illustrations The seller gives Noonans full and absolute right to photograph and illustrate any lot placed in its hands for sale and to use such photographs and illustrations and any photographs and illustrations provided by the seller at any time at its absolute discretion (whether or not in connection with the auction).

23 Unsold lots Where any lot fails to sell, Noonans shall notify the seller accordingly. The seller shall make arrangements either to re-offer the lot for sale or to collect the lot.

24 Noonans reserve the right to charge commission up to one-half of the ‘stated rates’ calculated on the ‘bought-in price’ and in addition ‘expenses’ in respect of any unsold lots.

GENE RA L CO N D I TI O N S AN D DE FIN IT I O N S 25 Noonans sells as agent for the seller (except where it is stated wholly or partly to own any lot as principal) and as such is not responsible for any default by seller or buyer.

26 Any representation or statement by Noonans, in any catalogue as to authorship, attribution, genuineness, origin, date, age, provenance, condition or estimated selling price is a statement of opinion only. Every person interested should exercise and rely on his or her own judgement as to such matters and neither Noonans nor its servants or agents are responsible for the correctness of such opinions.

27 Whilst the interests of prospective buyers are best served by attendance at the auction, Noonans will, if so instructed, execute bids on their behalf.

Neither Noonans nor its servants or agents are responsible for any neglect or default in doing so or for failing to do so.

28 Noonans shall have the right, at its discretion, to refuse admission to its premises or attendance at its auctions by any person.

29 Noonans has absolute discretion without giving any reason to refuse any bid, to divide any lot, to combine any two or more lots, to withdraw any lot from the auction and in case of dispute to put

up any lot for auction again.

30 (a) Any indemnity under these Conditions shall extend to all actions, proceedings costs, expenses, claims and demands whatever incurred or suffered by the person entitled to the benefit of the indemnity. (b) Noonans declares itself to be a trustee for its relevant servants and agents of the benefit of every indemnity under these Conditions to the extent that such indemnity is expressed to be for the benefit of its servants and agents.

31 Any notice by Noonans to a seller, consignor, prospective bidder or buyer may be given by first class mail, airmail or email and if so given shall be deemed to have been duly received by the addressee within 48 hours.

32 These Conditions shall be governed by and construed in accordance with English law. All transactions to which these Conditions apply and all matters connected therewith shall also be governed by English law. Noonans hereby submits to the exclusive jurisdiction of the English courts and all other parties concerned hereby submit to the non-exclusive jurisdiction of the English courts.

33 In these Conditions: (a) ‘catalogue’ includes any advertisement, brochure, estimate, price list or other publication; (b) ‘hammer price’ means the price at which a lot is knocked down by the auctioneer to the buyer; (c) ‘total amount due’ means the ‘hammer price’ in respect of the lot sold together with any premium, Value Added Tax chargeable and additional charges and expenses due from a defaulting buyer in pounds sterling; (d) ‘deliberate forgery’ means an imitation made with the intention of deceiving as to authorship, origin, date, age, period, culture or source which is not shown to be such in the description in the catalogue and which at the date of the sale had a value materially less than it would have had if it had been in accordance with that description; (e) ‘sale proceeds’ means the net amount due to the seller being the ‘hammer price’ of the lot sold less commission at the ‘stated rates’ and ‘expenses’ and any other amounts due to Noonans by the seller in whatever capacity and howsoever arising; (f) ‘stated rate’ means Noonans’ published rates of commission for the time and any Value Added Tax thereon; (g) ‘expenses’ in relation to the sale of any lot means Noonans charges and expenses for insurance, illustrations, special advertising, certification, remedials, packing and freight of that lot and any Value Added Tax thereon; (h) ‘bought-in price’ means 5 per cent more than the highest bid received below the reserve.

34 Vendors’ commission of sales A commission of 15% is payable by the vendor on the hammer price on lots sold.

Insurance is charged at 1.5% of the hammer price.

35 VAT Commission, illustrations, insurance and expenses are subject to VAT if the seller is resident in the UK.

TRADI TIONA L VA LUES WI TH A MOD ERN A PPROACH • THE LE ADING NUMISMATIC AUC TION HOUSE IN THE UK COMBINED 130 YE AR S OF E XPERTISE THE FINEST AUC TION C ATALOGUES IN THE WORLD A TRULY GLOB AL RE ACH

QATAR MONETARY AG EN C Y, OBV ER S E AN D R E V E R S E D I E P RO O FS FO R T H E 5 0 0 R I YA L S O F T H E 1 9 8 1 S ERIES

SOLD FOR £60,000

HEAD OF BANKNOTE DEPARTMENT ANDREW PATTISON andrew@noonans.co.uk

HEAD OF NUMISMATICS THOMASINA SMITH thomasina@noonans.co.uk

SENIOR BANKNOTE SPECIALIST BARNABY FAULL barnaby@noonans.co.uk

SENIOR BANKNOTE SPECIALIST MICHAEL O’GRADY michaelogrady@noonans.co.uk

BANKNOTE SPECIALIST TED EDMUNDS ted@noonans.co.uk

NOONANS MAYFAIR • 16 BOLTON STREET MAYFAIR LONDON UK W1J 8BQ • WWW.NOONANS.CO.UK

AT NO ONANS OUR E XP E RT IS E E X TENDS BE YOND T HE K NOWLED GE WITH IN OUR SPEC IALIST DEPART ME N TS TO INC LU D E ALL A S P EC T S OF OUR AU C TIO N HOUS E , FROM OUR PHOTOGR APHY S TUDIO TO O U R ADVANCED P ROP RIETARY O NLINE BIDDING S Y S T E M. We’re a close-knit team of experts with deep knowledge across our specialist subjects: banknotes, coins, detectorist finds, historical & art medals, jewellery, medals & militaria, objects of vertu, silver, tokens and watches. Focusing on these fascinating items, we share this expertise with an international community of sellers and buyers.

Each sale item that passes through our Mayfair auction house is appraised by an expert recognised as a leading authority in a particular field of interest, ranging from ancient coins and military medals to jewellery and vintage watches.

This depth of knowledge across all departments sets us apart from other generalist auctioneers.

NOONA N S 16 B OLTON ST REE T MAYFA IR LONDON W 1J 8BQ T. +44 (0)20 7016 1700 W W W.NO ONANS .CO.UK

SE L L W I TH US

B UY W I TH US

Respected worldwide for the breadth and depth of our specialist expertise, we can connect you to a broad, deep pool of potential buyers. Over the years, we’ve brought together an international community of people who share our particular passion. As recognised experts, with a vast store of freely available in-house knowledge and experience, we’ve earned the trust of buyers across the globe.

We’re here for you, whether you’re an experienced collector with a depth of knowledge or an occasional buyer attracted to a particular piece of jewellery or vintage watch.

Our fees are transparent. Unlike many other auction houses, we don’t charge for collecting your lots, photography or marketing and there’s no minimum lot charge.

Not surprisingly, our position as a trusted authority, with deep global reach, often leads to the achievement of higher than expected prices at auction.

Free valuation If you’re interested in selling your items and you’d like a free auction valuation, without obligation, our specialists will be happy to help. You can submit online or bring your sale item to a valuation day at our Mayfair auction house or at a regional venue. Alternatively, request a home visit.

Be assured that the item in question has been accurately described and photographed, detailing all available information, from its provenance to its current condition. Be certain that our price estimate is fair and sensible.

Delve deep into our website and you’ll discover a vast store of helpful background data, including prices achieved for similar items at previous auctions. Informed and empowered, study our detailed online catalogue, then place your bid in complete confidence.

W W W.NO O NANS .CO.UK