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Congo Republic The Congo Republic (usually referred to as Congo-Brazzaville in order to distinguish it from Congo Democratic Republic which referred to as CongoKinshasa) is located in the south-central part of Africa, has an area of 2.345 million is located on the equator in west- central Africa, has an area of 342,000 sq. km. and a population of 3.90 million. Capital: Brazzaville. Agriculture forestry, mining, and food processing are the principal industries. Timber, industrial diamonds, potash, peanuts, and cocoa beans are exported. Upon independence in 1960, the former French region of Middle Congo became the Peoples Republic of the Congo. A quarter century of experimentation with Marxism was abandoned in 1990 and a democratically elected government took office in 1992. A brief civil war in 1997 restored former Marxist President Denis SASSOU-NGUESSO, and ushered in a period of ethnic and political unrest. Southern rebel groups agreed to a final peace accord in March 2003, but the calm is tenuous and refugees continue to present a humanitarian crisis. Congo Republic was once one of Africa’s largest petroleum producers, but with declining production it will need new offshore oil finds to sustain its oil earnings over the long term.

MONETARY SYSTEM: 1 Franc = 100 Centimes


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Banque des États de l’Afrique Centrale, BEAC Congo Republic On 22 November 1972, the Banque des États de l’Afrique Centrale, BEAC was established to replace the French Equatorial Africa Bank; it included Congo Republic as one of its six members (the other five were, Cameroun, Central African Republic Chad, Equatorial Guinea, and Gabon). New notes released into circulation 1973 starting with a 10,000 franc note (Pick 1) and followed by other denomination as from 1974 and onwards. All have a common design to each of the countries members and a national unique design on the front.

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x225 Republique Populaire du Congo, 500 francs, ND (1981), red, girl at left, river scene at centre, signature 12, also 1,000 francs, ND (1978), blue and multicoloured, man and industrial plant, signature 8, also 5,000 francs, ND (1978), multicoloured, man

and falls, signature 12. (Pick 2d, 3c, 4c), uncirculated (3) Estimate ÂŁ200-250

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199


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x226 Repunlique Populaire du Congo, 10000 francs, ND (1978), serial number Y2-21532, multicoloured, Congolese maiden at left, demonstration at centre, African carving at right, signature 11, reverse multicoloured, tractor ploughing and carvings, value top left and right. (Pick 5b), uncirculated and scarce Estimate ÂŁ400-450

x227 Repunlique Populaire du Congo, 10,000 francs, ND (1978), serial number Y2-21538, multicoloured, Congolese maiden at left, demonstration at centre, African carving at right, signature 11, reverse multicoloured, tractor ploughing and carvings, value top left and right. (Pick 5b), uncirculated and scarce Estimate ÂŁ400-450

200

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x228 Republique Populaire du Congo, 5,000 francs, ND (1984), prefix P001, brown and multicoloured, woman with reeds on her back, huts at centre, carving at left, 10,000 francs, ND (1984), green and multicoloured, girl at right, both signature 12. (Pick 6a,7), uncirculated (2) Estimate ÂŁ140-180

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201


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x229 Republique Populaire du Congo, 500 francs (2), 1985,1991, prefixes Z01 and G04, orange-red and pale yellow, ethnic objects at centre, also 1,000 francs (4), 1985 (2), 1987 and 1992, prefixes T01(2), M03 and M12, blue and nulticoloured, map and carving. (Pick 8a ,8d, 9, 10a, 11), uncirculated (6) Estimate ÂŁ60-80 202

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Dahomey The French Colony of Dahomey (present-day Republic of Benin) was established by the French in 1894, following the victory of the latter in the Franco-Dahomean War which lasted from 1892 until January 1894; the colony included the territory of the Kingdom of Dahomey and Porto-Novo (was under French rule as from 1883), an area to the north of loose tribal control along the coast and a traditional rival of Dahomey. In 1895 the France established Afrique occidentale française, AOF, French West Africa, a federation French colonial territories in Africa with Dahomey one of them. Originaly the colonies were Senegal, Ivory Coast, French Guinea, French Sudan (now Mali), Upper Senegal and Niger (split off in 1919 into Upper Volta, now Burkina Faso and French Sudan), Mauritania (formed in 1920) and Niger (formed in 1922). The capital of the federation was Dakar and it lasted until 1960. Banque du Sénégal banknotes were in use, though not widely, up to 1901 when the Banque de l’ Afrique Occidentale was established and issued its own banknotes. On 11 February 1917, due to the savvier shortage of coins caused as WWI impacted, a special decree had been published approving the print of emergency notes of 50 centimes (a half franc), 1 and 2 franc currency notes. The notes were issued locally by each of the colonies distinguish by colours and signatures of the (colony) treasury and Governor. The design of the three notes included the relevant denomination coin at left and right of the obverse and the decree text on the reverse. The printed headline of each note was GOUVERNEMENT GÉNÉRAL DE L’A.O.F. (Afrique Occidentale Francaise) and a local print of COLONIE DU…. (colony of…). Notes issued as following: Colony / denomination

0.50 franc

1 franc

2 francs

Côte d’Ivoire (Ivory Coast)

Red-black

Green-yellow

Reddish

Dahomey

Red

Orange-yellow

-

Brown

Blue-green

-

Brown

-

-

Sénégal (Senegal)

Blue-green

Red (bright)

Orange-yellow

Soudan (Sudan)

Brown

-

-

Guinée française (French Guinea) Haut Sénégal et Niger (Upper Senegal and Niger)

RULERS: French to 1960 MONETARY SYSTEM: 1 Franc = 100 Centimes


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x230 Gouvernement General de l’Afrique Occidentale Francaise, Dahomey, 1 franc, ND (1917), serial number B-31-651, orange text on yellow, value at centre, 1 franc coin at left and right, reverse black text and value on white paper. (Pick 2a), about extremely fine and rare Estimate £500-600 204

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East Africa British East Africa as a political/administrative entity only existed between the years 1895 to 1920. European missionaries began settling in the area from Mombasa to Mount Kilimanjaro in the 1840s, nominally under the protection of the Sultan of Zanzibar. In 1886 the British government encouraged William Mackinnon, who already had an agreement with the Sultan and whose shipping company traded extensively in East Africa, to establish British influence in the region. He formed a British East Africa Association which led to the Imperial British East Africa Company being chartered in 1888 and given the original grant to administer the dependency. It administered about 150 miles (240 km) of coastline stretching from the River Tana via Mombasa to German East Africa which were leased from the Sultan. The British “sphere of influence”, agreed at the Berlin Conference of 1885, extended up the coast and inland across the future Kenya and after 1890 included Uganda as well. Mombasa was the administrative centre at this time. However, the company began to fail, and on 1 July 1895 the British government proclaimed a protectorate, the administration being transferred to the Foreign Office. The East Africa Protectorate included an area occupying roughly the same terrain as present-day Kenya (approximately 246,800 mi² / 639,209 km²) from the Indian Ocean inland to Uganda and the Great Rift Valley. Following the Treaty of Versailles the European territories in Africa were rearranged and the status of most of them had been changed. On 23 July 1920 the Protectorate became a Crown Colony, named Kenya Colony.

RULERS: British

MONETARY SYSTEM: 1 Rupee = 100 Cents to 1920


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Government of the East Africa Protectorate In 1905, the Government of the East Africa Protectorate issued into circulation its own currency, replacing the India rupees which were the legal currency in its territory. The issuing of banknotes was one of several re-administrative acts which took place during 1904-5 made to demonstrate the strength of the local Government as well as of the British Government itself. During the years 19021904, the British Government was under a great pressure from the East Africa Syndicate, a company in which financiers belonging to the British South Africa Company, which sought a grant of 5,382 square feet (500 m²). The Syndicate was supported by the Commissioner of the East Africa Protectorate, Sir Charles Eliot. In the carrying out of this policy of colonisation, a dispute arose between Sir Eliot and Lord Lansdowne, the British Foreign Secretary, which resulted with Eliot’s resignation from his post on 21 of June 1904. On the very same day the appointment of Sir Donald William Stewart, the Chief Commissioner of Ashanti (Ghana), to succeed him was announced. The notes issued by the Government of the East Africa Protectorate were identical in their designs to the Government of India notes which they replaced. They were printed by Thomas de la Rue and included the denominations of 5, 10, 20, 50, 100 and 500 rupees (Pick 1A-6).

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x231 The Government of the East Africa Protectorate, 5 Rupees, Mombasa, 1 September 1905, serial number A/1 70997, black on green underprint, value at right and left, uniface. (Pick 1A), pinholes, “Caine Bros Niareli 9/12” in ink

on reverse, otherwise an attractive very fine, first series and very rare Estimate £2,000-3,000

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x232 The Government of the East Africa Protectorate, 10 Rupees, Mombasa, 1 May 1916, serial number B/1-79777, dark brown on orange underprint, value at right and left, uniface. (Pick 2A), top left corner tip missing, otherwise attractive good very fine and extremely rare Estimate ÂŁ5,000-7,000 208

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(British) East African Currency Board The

East

African

Currency

Board

was

established in 1919 to issue and administer the currency circulating in British territories located in East Africa, following the end of WWI and the Treaty of Versailles. Thus although using the same term “East Africa”, there is a great difference between the East Africa Protectorate which referred to a certain territory and the East African Currency Board which referred to a certain geographical area. Following the Treaty of Versailles the European territories in Africa were rearranged and the status of most of them had been changed. German territories were divided between Britain, France, Italy and Belgium. The areas in which the East African Currency Board operated were Tanganyika (was a British League of Nations mandate between 1922 and 1946 and a British United Nations trust territory between 1946 and 1961, which prior to the end of the WWI was part of German East Africa), the Sultanate of Zanzibar, Kenya Colony, Uganda Protectorate and British Somaliland Protectorate.

whose currency had previously circulated in these two territories.

First and second series The East African Currency Board chose to use the rupee as its currency and apparently as the rupee of both, East Africa Protectorate and India was very common in area. The initial issue was of a 1 rupee note (Pick 7), depicting for the first time the effigy of the monarch, King George V. This first issue was driven by a serious imperative as the bullion value of the silver rupees circulating in East Africa territories had increased from less than two shillings per fine ounce in 1902, silver had risen to around seven shillings per fine ounce in 1919. This meant that the silver rupee was worth about 2.75 shillings, as opposed to its official value of approximately 1.33 shillings. In an effort to stabilize the currency, the East African Currency Board decided to redeem the silver rupees for 1 florin (2 shillings) each. Hence the florin as a main currency unit was adopted a few months later. In 1920 florin notes were released into general circulation with the denominations of 1 florin (Pick

The common interest of Kenya, Tanzania

8) which was identical to the 1 rupee note and

and Uganda invited cooperation in economic

5, 10, 20, 50, 100, and 500 florin notes. The 10

matters and consideration of political union. The

florins and above (Pick 10-12B) were all uniface

territorial governors, organized as the East Africa

and carried denominations in pounds Sterling

High Commission, met periodically to administer

along with florin (£1, £2, £5, £10, and £50).

such common activities as taxation, industrial development and education. The authority of the

Third series and onwards

Commission did not infringe upon the constitution

The operation to redeem the silver rupees began

and internal autonomy of the individual Colonies

in 1921, but at this time the price of silver began

and Protectorate. The common monetary

to drop, following the collapse of the post-war

system circulated for the territories by the East

boom. Consequently, adventurers and speculators

African Currency Board and was also used in

gathered silver rupees in Arabia and India, and

British Somaliland and the Aden Protectorate

exchanged them in East Africa at the profitable

subsequent to the independence of India (1947)

rate offered by the East African Currency Board.

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

This activity, needless to say, increased the losses

these notes have a different style of serial number

sustained by the Board due to the falling price

and do not carry the printer’s imprint of ‘Thos De

of silver. As for that it was decided to reduce

La Rue & Co Ltd London’ that appeared on the

the main currency unit to a shilling (half florin).

other varieties of these notes. In 1943, 1 shilling

In 1921, notes were issued in denominations of

notes were issued to overcome the shortage

5, 10, 20, 100, 200, 1,000 and 10,000 shillings

of coins caused during WWII. 1,000 shilling

(Pick 13-19). Unlike previous series, all notes were

notes were only issued until 1933, with 10,000

printed on both sides; as in previous series, notes

shillings notes last issued in 1947. The remaining

of 20 shillings and above carried denominations in

denominations were issued until 1964.

pounds Sterling along with shilling (£1, £5, £10,

All notes issued between 1920 and 1921 were

£50 and £500).

issued by the Mombasa Issuing Office (Pick 7-19).

In 1942 the 5, 10 and 20 shilling notes (Pick 28A,

Starting 1933 up to 1956 (Pick 20-36), all notes

29A, 30A) were printed in India due to the cut-

issued by the Nairobi Issuing Office. As from

off of the supply lines from Britain during WWII;

1958, no issuing office was indicated in the notes.

x233 The East African Currency Board, 5 Shillings, Mombasa, 15 December 1921, serial number F/5-34109, blueblack on orange-brown underprint, King George V at lower right, value at lower left, reverse lion at centre. (Pick 13), very fine and very scarce Estimate £600-800

210

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x234 The East African Currency Board, 20 Shillings, Mombasa, 15 December 1921, serial number B/5-40108, blue-black on orange-brown underprint, King George V at upper right, value at upper left, reverse lion at centre. (Pick 15), pressed, otherwise good very fine and very rare Estimate ÂŁ1,000-1,200 www.spink.com

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x235 The East African Currency Board, 5 Shillings, Nairobi, 1 January 1933, serial number H/7-88416, blue-black on orange-brown underprint, King George V at lower right, value at lower left, reverse lion at centre. (Pick 20), fine to very fine and very

scarce Estimate £300-400

x236 The East African Currency Board, 5 Shillings, Nairobi, 1 January 1947, serial number C/14-83712, blue-black on orange-brown underprint, King George VI at lower left, value at lower right, reverse lion at centre. (Pick 28), pressed, otherwise good very

fine Estimate £60-80

212

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x237 The East African Currency Board, 10 Shillings, Nairobi, 1 September 1950, serial number B/59-93641, deep blue on green and pink underprint, King George VI at lower left, value at lower right, reverse lion at centre. (Pick 29b), good fine to very fine Estimate ÂŁ60-80

x238 The East African Currency Board, 20 Shillings, Nairobi, 1 January 1947, serial number M/4-94270, blue-black on orange-brown underprint, King George VI at upper left, value at upper right, reverse lion at centre. (Pick 30b), pressed, otherwise good

very fine Estimate ÂŁ250-350

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x239 The East African Currency Board, 5 Shillings, Nairobi, 1 April 1954, serial number H47-04587, blue-black on orange-brown underprint, Queen Elizabeth II at lower right, value at lower left, reverse lion at centre. (Pick 33), attractive good very fine Estimate £100-150

x240 The East African Currency Board, 10 Shillings, Nairobi, 1 February 1956, serial number H17-78571, deep blue on green and pink underprint, Queen Elizabeth II at lower right, value at lower left, reverse lion at centre. (Pick 34), good extremely fine to about

uncirculated and a lovely original note Estimate £400-600

214

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OCTOBER 4, 2013 - LONDON

x241 East African Currency Board, a black and white photographic style proof for the reverse design for the 5 shillings issued in 1958; the back of the proof shows the date 3 may 1957 and remark ‘doesn’t show tint working’. (Pick 37 and later on 41 for type), about

uncirculated and an extremely rare Estimate £100-150

x242 East African Currency Board, 5 Shillings, ND (1958-60), serial number C1-78517, brown on multicoloured underprint, Queen Elizabeth II at upper left, reverse floral design. (Pick 37), lightly pressed, otherwise

good extremely fine Estimate £40-60

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x243 East African Currency Board, 20 Shillings, ND (1958-60), serial number P6-66281, blue on multicoloured underprint, Queen Elizabeth II at upper left, reverse floral design. (Pick 39), slight staining on reverse,

otherwise good very fine Estimate £70-90

x244 East African Currency Board, 100 Shillings, ND (1958-60), serial number G2-70275, red on multicoloured underprint, Queen Elizabeth II at upper left, reverse floral design. (Pick 40a), very fine Estimate £100-120

216

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x245 East African Currency Board, 5 Shillings (2), ND (1961-63), the first serial number G17-92671, top left signature E. B. David and the second serial number C25-87996, top left signature A. L. Adu, both brown on multicoloured underprint, Queen Elizabeth II at upper left, reverse floral design. (Pick 41a, 41b), the first uncirculated,

the second extremely fine to about uncirculated (2) Estimate ÂŁ200-250

x246 East African Currency Board, 10 Shillings (2), ND (1958-63), the first, 4 signatures at right and the second, 7 signatures with top left signature A. L. Adu, both green on multicoloured underprint; 20 Shillings, ND (196163), blue on multicoloured underprint, 7 signatures with top left signature E.B. David; and 100 Shillings, ND (196163), 7 signatures with top left signature E. B. David, red on multicoloured underprint, all Queen Elizabeth II at upper left, reverse floral design. (Pick 38, 42b, 43a, 44a), the first good very fine, the second ink figures on reverse, otherwise good fine, the third very fine, the fourth pressed, otherwise good very fine (4) Estimate ÂŁ140-180

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x247 East African Currency Board, 100 Shillings, ND (1961-63), serial number M4-96177, 7 signatures with top left signature A. L. Adu, red on multicoloured underprint, Queen Elizabeth II at upper left, reverse floral design. (Pick 44b), fresh, original, uncirculated,

a lovely note and rare in this grade Estimate £400-500

East African Currency Board post Independence In 1964 after the independence of Kenya, Uganda and Tanzania (Tanganyika at the time), there was a desire to establish a common East African Central Bank. Interim currencies were therefore introduced by the EACB to circulate within the region. For banknotes, the interim currency was commonly known as the Lake Victoria Money because of the background of Lake Victoria on the notes. The Lake Victoria designed notes were in the denominations of 5, 10, 20 and 100 shillings. There were also a number of coins minted and referred to as the “Uhuru” coins since they too had no head or monarch on them.

Suggested designs toward the 1964 series On the next couple pages there are photographic style proofs group for 5, 10, 20, and 100 shillings and composite obverse essay on board for a 20 shilling note. It is reasonable to conclude that the followings were part of a suggested design toward the introduction of the new 1964 series (Pick 45-48) which was issued after the independence of Kenya, Uganda and Tanzania (Tanganyika at the time). The traditional portrait of the monarch was removed. In the photographic style proofs the obverse includes as the main design a steamship while the actual design included sailboat. The reverse is quite similar to the final design of floral design. On each of the proofs there is a red handstamp of TDLR dated 6 NOV 1962. The date is not surprising as Tanganyika gained its independence on 9 December 1961 and Uganda on 9 October 1962; by the time the actual series was released into circulation, Kenya was already independent since 12 December 1963. As for the hand painting essay, it already bears more resemblance to the issued notes. 218

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Lot No x248

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x248 East African Currency Board, a group of black and white photographic style proofs, dated November 1962, comprising 5 Shillings, obverse, unrecorded design of steamship; 5 Shillings, reverse with unrecorded floral design; 10 Shillings, obverse, unrecorded design of steamship; 10 shillings, reverse, unrecorded floral design; 20 Shillings, obverse, unrecorded design of steamship; 20 Shillings, reverse, unrecorded floral design; 100 Shillings, reverse, unrecorded floral design. (Pick unrecorded), about uncirculated and an extremely rare attractive set of unissued designs (7) Estimate ÂŁ600-800

220

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OCTOBER 4, 2013 - LONDON

x249 East African Currency Board, a composite obverse essay on board for a 20 Shilling note, ND (c1964), serial number A1-000000, pale blue, pink and green, provision for 7 signatures, sailing boats at right and in centre background. (Pick unrecorded), unique and most attractive Estimate ÂŁ1,800-2,400

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221


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x250 East African Currency Board, a group of the ND (1964) issue comprising 5 Shillings, brown and multicoloured, 10 Shillings, green and multicoloured, 20 Shillings, blue and multicoloured and 100 Shillings, purple and multicoloured, all yacht at left, reverse floral design. (Pick 45a, 46a, 47a, 48a), the first very fine, the second about extremely fine,

the third good extremely fine, the fourth extremely fine (4) Estimate ÂŁ180-240

222

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Equatorial African States Equatorial African States (Central African States), a monetary union comprising the former French possessions and now independent states of the Republic of Congo (Brazzaville), Gabon, Central African Republic, Chad and Cameroon, issues a common currency for the member states from a common central bank. The monetary unit, the African Financial Community Franc, is tied to and supported by the French franc. On 4 April 1959 Banque Centrale des Etats de l’Afrique Equatoriale et du Cameroun (BCEAEC), Central Bank of the Equatorial African States and Cameroun was established. 100 francs note issued (Pick 1-2). In 1960, an abortive attempt was made to form a union of the newly independent republics of Chad, Congo, Central Africa and Gabon. The proposal was discarded when Chad refused to become a constituent member. In 1960, the French-administered part of Cameroun became independent as the Republic of Cameroun under President Ahmadou Ahidjo. The four countries then linked into an Equatorial Customs Unit, to which Cameroun became an associate member in 1961. The bank was renamed Banque Centrale des Etats de l’Afrique Equatoriale (the title ‘et du Cameroun’ was dropped). Under the new bank common notes were issued for the four other states (Equatorial African States Pick 3-7) while Cameroun issued its own spate CFA (Cameroun Pick 7-13). The common notes were distinguished for each country by control letter. A more extensive cooperation of the five republics, identified as the Central African Customs and Economic Union, was put into force at the beginning of 1966. In 1974 the Central Bank of the Equatorial African States, which had issued coins and paper currency in its own name and with the names of the constituent member nations, changed its name to the Bank of the Central African States.

MONETARY SYSTEM: 1 Franc (C.F.A.) = 100 Centimes CONTROL LETTER or SYMBOL CODE Country 1961-72 Cameroun * (1961 only since 1961 issued its on CFA). Central African Republic B, Chad A, Congo C, Gabon D


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x251 Banque Centrale des Etats de L’Afrique Equatoriale et du Cameroun, specimen 100 Francs, ND (1961-62), serial number O.000000000, code O (none were used), blue and multicoloured, Felix Eboue at centre, reverse man at right, cargo ship at centre, overprinted SPECIMEN No 0174 in black on obverse and perforated SPECIMEN at right. (Pick 1s), two pinholes, slight foxing,

otherwise uncirculated and very scarce Estimate £160-240

x252 Banque Centrale des Etats de L’Afrique Equatoriale et du Cameroun, specimen 100 Francs, ND (1961-62), serial number O.000000000, with asterisk code for Cameroun, blue and multicoloured, Felix Eboue at centre, denomination also in English at upper right, reverse man at right, cargo ship at centre, overprinted SPECIMEN No 0180 in black on obverse and perforated SPECIMEN at right. (Pick 2s), one pinhole, slight foxing,

otherwise uncirculated and very scarce Estimate £180-260

224

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OCTOBER 4, 2013 - LONDON

x253 Banque Centrale des Etats de L’Afrique Equatoriale et du Cameroun, 100 Francs, ND (196162), serial number Q.28-069020509, code letter “B” for Central African Republic, blue and multicoloured, Felix Eboue at centre, reverse man at right, cargo ship at centre. (Pick 1b), pressed, otherwise very fine Estimate £60-90

x254 Banque Centrale des Etats de L’Afrique Equatoriale, 100 Francs, ND (1963), serial number C.17 040270812, code letter “D” for Gabon, brown and multicoloured, man at right, musical instrument and hut at left, reverse elephants; 1,000 Francs, ND (1963), serial number C.17-040264879, code letter “D” for Gabon, multicoloured, people gathering cotton, reverse men logging; 5,000 Francs ND (1963) ND, serial number F.24-0580847, code letter “C” for Congo, multicoloured, girl at left, village scene at centre, reverse man smoking pipe at right, tractor logging at centre. (Pick 3d, 5h, 6c), very fine, fine, fine (3) Estimate £160-220

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x255 Banque Centrale des Etats de L’Afrique Equatoriale et du Cameroun, 500 Francs, ND (1963), serial number W.8019900918, code letter “A” for Chad, green and multicoloured, girl wearing bandana at right, reverse radar dishes at left, man on camel at right. (Pick 4e), very slight staining at left, otherwise uncirculated Estimate £160-200

x256 Banque Centrale des Etats de L’Afrique Equatoriale, specimen 1,000 Francs, ND (1963), serial number O.000000000, code letter “B” for Central African Republic, multicoloured, people gathering cotton, reverse men logging, overprinted SPECIMEN No 0069 in black on obverse and perforated SPECIMEN at right. (Pick 5bs), good extremely fine to about

uncirculated and very scarce Estimate £400-600

226

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x257 Banque Centrale des Etats de L’Afrique Equatoriale, specimen 1,000 Francs, ND (1963), serial number O.000000000, code letter “C” for Congo, multicoloured, people gathering cotton, reverse men logging, overprinted SPECIMEN No 0060 in black on obverse and perforated SPECIMEN at right. (Pick 5cs), choice about uncirculated

and very scarce Estimate £500-700

x258 Banque Centrale des Etats de L’Afrique Equatoriale, 1,000 Francs, ND (1963), serial number Z.5 012378044, code letter “D” for Gabon, multicoloured, people gathering cotton, reverse men logging. (Pick 5d), pressed, otherwise good

extremely fine and very scarce Estimate £200-250

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x259 Banque Centrale des Etats de L’Afrique Equatoriale, specimen 5,000 Francs, ND (1963), serial number O.0000000, code letter “C”, multicoloured, girl at right, village scene at centre, reverse man smoking pipe at right, tractor logging at centre, overprinted SPECIMEN No 0050 in black on obverse and perforated SPECIMEN at right. (Pick 6cs), small tear in top left margin, otherwise about uncirculated to

uncirculated and rare Estimate £600-800 228

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OCTOBER 4, 2013 - LONDON

x260 Banque Centrale des Etats de L’Afrique Equatoriale, specimen 5,000 Francs, ND (1963), serial number O.0000000, code letter “D” for Gabon, multicoloured, girl at right, village scene at centre, reverse man smoking pipe at right, tractor logging at centre, overprinted SPECIMEN No 0055 in black on obverse and perforated SPECIMEN at right. (Pick 6ds), pinholes at upper left, otherwise about uncirculated to

uncirculated and rare Estimate £600-800 www.spink.com

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

In 1968 the Bank issued its first and only 10,000 franc note; the note was issued on behalf of the Central African Republic and it featured the Republic’s President, J. B. Bokassa. The note actually marked the beginning of a new family of notes which included national design but due to the financial changes in the monetary union, no others like it were issued by other members or at all; the bank was succeeded by the Banque des États de l’Afrique Centrale, BEAC which started issuing its own banknotes in 1974, implanting the policy of notes with a common design to each of the countries members on the reverse and a national unique design on the front. The reverse design of the discussed note was used for a similar design of the BEAC 10,000 reverse design.

x261 Banque Centrale des Etats de L’Afrique Equatoriale, 10,000 Francs, ND (1968), serial number B.1 00152208, multicoloured, President Bokassa at right, Rock Hotel, Bangui at left at right, reverse carvings at left and right, man ploughing with tractor at centre. (Pick 7), good very fine and a very rare note Estimate £1,800-2,400 230

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Equatorial Guinea The Republic of Equatorial Guinea consists of Rio Muni, located on the coast of west- central Africa between Cameroon and Gabon, and several offshore islands, principally Isla de Corisco and Isla de Bioko. The country has an area of 28,051 sq. km. and a population of 616,460. Capital: Malabo. The economy is based on agriculture and forestry. Cacao, wood and coffee are exported. In September 1968, after 190 years of Spanish rule, Spanish Guinea was granted independence and became the Republic of Equatorial Guinea with Francisco Macías Nguema elected as president This tiny country, composed of a mainland portion plus five inhabited islands, is one of the smallest on the African continent. President Teodoro Obiang Nguema Mbasogo has ruled the country since 1979 when he seized power in a coup. Although nominally a constitutional democracy since 1991, the 1996 and 2002 presidential elections - as well as the 1999 and 2004 legislative elections - were widely seen as flawed. The president exerts almost total control over the political system and has discouraged political opposition. Equatorial Guinea has experienced rapid economic growth due to the discovery of large offshore oil reserves, and in the last decade has become Sub-Saharan Africa’s third largest oil exporter. Despite the country’s economic windfall from oil production resulting in a massive increase in government revenue in recent years, there have been few improvements in the population’s living standards.

MONETARY SYSTEM: 1 Peseta Guineana = 100 Centimos to 1975 1 Ekuele = 100 Centimos, 1975-80 1 Epkwele (pl. Bipkwele) = 100 Centimos, 1980-85 1 Franc (C.F.A.) (franco) = 100 Centimes (exchanged for 4 Bipkwele), 1985 onwards


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

El Banco Central; First series With its independence the state had established its central Bank, El Banco Central; the peseta Guineana replaced the Spanish peseta at par and new banknotes of 100, 500 and 1,000 pesetas were issued (Pick 1-3). The notes were very similar in their general design to the Spanish parallel denominations at the time including the colours of the 100 pesetas (Spain Pick 150).

x262 El Banco Central, Equatorial Guinea, 100 pesetas Guineanas, 1969, brown, 500 pesetas, green and 1,000 pesetas, blue, President Biyogo at centre, both 1969. (Pick 1, 2, 3), first good very fine, rest uncirculated (3) Estimate ÂŁ40-60 232

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OCTOBER 4, 2013 - LONDON

Banco Popular In July 1970, Macias created a single-party state and by May 1971, key portions of the constitution were abrogated. In 1972 Macias took complete control of the government and assumed the title of President for Life. The Macias regime was characterized by abandonment of all government functions except internal security, which was accomplished by terror; this led to the death or exile of up to one-third of the country’s population. Due to pilferage, ignorance, and neglect, the country’s infrastructure—electrical, water, road, transportation, and health—fell into ruin. Religion was repressed, and education ceased. The private and public sectors of the economy were devastated. Nigerian contract labourers on Bioko, estimated to have been 60,000, left en masse in early 1976. The economy collapsed, and skilled citizens and foreigners left. All schools were ordered closed in 1975, and the country’s churches were closed in 1978. Nguema introduced a campaign of ‘authenticity’, replacing colonial names with native ones: the capital Santa Isabel became Malabo, the main island of Fernando Po was renamed Masie Nguema Biyogo after himself, and Annobón became Pagalu. As part of the same process, Nguema also ordered the entire population to drop their European names and adopt African ones. His own name underwent several transformations, so that by the end of his rule he was known as Masie Nguema Biyogo Ñegue Ndong. As part of it the Central Bank became Banco Popular, the Peoples Bank and the currency name was changed to African oriented - ekuele replaced the peseta guineana at par. The first issue was introduced around 1976 and included denominations of 25, 50, 100, 500 and 1,000 ekueles. All notes included Nguema portrait and his Africanized name (Pick 4-8). Shortly after a second series identical to its previous, was issued bearing the final version of the President Africanized name, Masie Nguema Biyogo Ñegue Ndong.

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x263 Banco Popular, Equatorial Guinea, 25, 50, 100, 500, 1,000 ekuele, 7 July 1975, all President Biyogo at right, also 25, 100 (3), 500 and 1,000 ekuele, all 7 July 1975 (second issue). (Pick 4-8, 9, 11,12,13), uncirculated

(11) Estimate ÂŁ80-100

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Banco de Guinea Ecuatorial Francisco MacĂ­as Nguema was overthrowed on 3 August 1979, and subsequent execution on 29 September following a guilty verdict for crimes including genocide, mass murder, embezzlement of public funds, violations of human rights, and treason. The Banco Popular was replaced by Banco de Guinea and new series of notes was introduced. The traditional coat of arms was also restored. Concurrent with the release of these new notes, the name of the currency was also changed from ekuele (plural ekuele) to ekwele (plural bipkwele).

x264 Banco de Guinea Ecuatorial, 100 bipkwele, green, 500 bipkwele, violet, 1,000 bipkwele, brown and 5,000 bipkwele, blue-grey, all 1979, also 100 pesetas, lilac and 500 pesetas, green, both with handstamp for the provisional issue of 1980. (Pick 14, 15, 16, 17, 18, 19) the 500 bipkwele fine, balance uncirculated (6) Estimate ÂŁ100-140

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Banque des États de l’Afrique Centrale, BEAC - Equatorial Guinea Equatorial Guinea entered the Franc Zone on 2 January 1985. The ekwele was replaced by the Central African franc (written franco on these notes) at a rate of 1 franc = 4 bipkwele. In the late 1980s, Equatorial Guinea joined the Central African States, which issued its notes thereafter.

x265 Banque des Etats de L’Afrique Centrale, Equatorial Guinea, 500 francs, 1985, prefix H01, pink and multicoloured, 1,000 frrancs, 1985, prefix G01, blue and 5,000 francs, 1985, prefix M.001, brown and multicoloured, maiden with basket of reeds at right. (Pick 20, 21, 22a), uncirculated (3) Estimate £60-80

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Eritrea The State of Eritrea, a former Ethiopian province fronting on the Red Sea, has an area of 121,320 sq. km. and a population of 5.50 million. Eritrea was awarded to Ethiopia in 1952 as part of a federation. Ethiopia’s annexation of Eritrea as a province 10 years later sparked a 30-year struggle for independence that ended in 1991 with Eritrean rebels defeating governmental forces; independence was overwhelmingly approved in a 1993 referendum. A two-and-a-half-year border war with Ethiopia that erupted in 1998 ended under UN auspices in December 2000. Eritrea currently hosts a UN peacekeeping operation that is monitoring a 25 km-wide Temporary Security Zone (TSZ) on the border with Ethiopia. An international commission, organized to resolve the border dispute, posted its findings in 2002. However, both parties have been unable to reach agreement on implementing the decision. On 30 November 2007, the Eritrea-Ethiopia Boundary Commission remotely demarcated the border by coordinates and dissolved itself, leaving Ethiopia still occupying several tracts of disputed territory, including the town of Badme. Eritrea accepted the EEBC’s “virtual demarcation” decision and called on Ethiopia to remove its troops from the TSZ which it states is Eritrean territory. Ethiopia has not accepted the virtual demarcation decision.

MONETARY SYSTEM: 1 Nakfa = 100 Cents


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

The Bank of Eritrea and its banknotes The Bank of Eritrea was established by proclamation in 1993, just after the country’s independence from Ethiopia; the Bank of Eritrea empowered by proclamation to foster economic growth, employment and overall development in the country, has played a pivotal role in the country’s development thus far. Growth has been steady since the border war with Ethiopia ended in 2002, and unlike many countries in the region, Eritrea benefits from having excellent road and sea links. On 8 November 1997 the Bank of Eritrea introduced the country’s new currency, the nakfa, to replace the Ethiopian birr at par. The currency was named after the town of Nakfa, a town in the Northern Red Sea region of Eritrea, owing to its historic place in the independence struggle; Nakfa served as a base for the Eritrean People’s Liberation Front during the Eritrean War of Independence (1 September 1961 – 29 May 1991). The nakfa banknotes were designed by Clarence Holbert of the United States Bureau of Engraving and Printing in 1994. The first series introduced in 1997 (dated 24.5.1997, Eritrea’s Independence Day) and included the denominations of 1, 5, 10, 20, 50 and nakfa (Pick 1-6). Second issue consists of only the 50 and 100 nakfa notes (Pick 7-8), both with same design of their previous but with entirely new colours (dated 24.5.2004); third issues also of only the 50 and 100 nakfa notes (dated 24.5.2011) issued in 2011-12, again with different colours of previous issues.

x266 Bank of Eritrea, a presentation booklet in red morocco with gold title ‘WITH THE COMPLIMENTS OF THE BANK OF ERITREA’ and containing 1 nafka, 24 May 1997, brown-grey and multicoloured, flag at left, camel at right, mother and children at centre, 50 nafka, 24 May 2004, purple and multicoloured, design similar to last, 100 nafka, 24 May 2004, blue and multicoloured, design similar to last. (Pick 1s-6s and 1, 7, 8), uncirculated (9) Estimate £60-80 238

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Ethiopia The Federal Republic of Ethiopia (formerly the Peoples Democratic Republic and the Empire of Ethiopia) is located in east-central Africa. The country has an area of 424,214 sq. mi. (1.099,900 sq. km.) and a population of 66.18 million people who are divided among 40 tribes that speak some 270 languages and dialects. Capital: Addis Ababa. The economy is predominantly agricultural and pastoral. Gold and platinum are mined and petroleum fields are being developed. Coffee, oilseeds, hides and cereals are exported. Up to 1931, refer to Abyssinia. In 1931, the Emperor of Ethiopia, Haile Selassie I, formally requested that the international community use the name Ethiopia (as it had already been known internally for at least 1600 years) instead of Abyssinia. Ethiopia was invaded by fascist Italy in 1935, and together with Italian Somaliland and Eritrea became part of Italian East Africa until liberated by British and Ethiopian troops in 1941. When other African nations gained their independence following World War II, many of them adopted the colours of Ethiopia’s flag. Addis Ababa became the base for several global non-profit organizations focused on Africa. On 12 September 1974, Haile Selassie I, 225th consecutive Solomonic ruler, was deposed by a military committee. In July 1976, Ethiopia’s military provisional government referred to the country as Socialist Ethiopia ruled by a military junta known as the Derg. In 1987 Mengistu established the Ethiopian People’s Democratic Republic which survived until being defeated in 1990 by a coalition, loosely called the EPRDF. In 1991, Ethiopia became a federated state.

RULERS: Haile Selassie I, 1930-1936, 1941-1974

MONETARY SYSTEM: 1 birr (Amharic) / thalers (Latin) = 100 Matonas, 1931-1935 1 Birr (Dollar) = 100 Santeems (Cents), since 1944 


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Bank of Ethiopia Within Emperor Haile Selassie’s change of the country’s name and wide reforms in order to march it into modernisation, the Bank of Ethiopia was established, as a fully government-owned bank. Emperor Selassie acquired the Bank of Abyssinia (established in 1906 – refer to Abyssinia), which was a private bank, for £235,000 and liquidated it entirely into the Bank of Ethiopia including taking over management, staff and premises of the ceased bank. The Bank of Ethiopia provided central and commercial banking services to the country including the issuing of the country’s banknotes; and indeed during 1932, a new series was introduced into circulation. The notes were identical to their previous but with the new bank name as issuing authority and with a fully printed date as opposed to the partly printed and completed by hand written dates on the Bank of Abyssinia. In 1932 the 5, 10, 50, 100, and 500 thaler notes (Pick 7-11) were introduced, followed by a new denomination of 2 thalers (Pick 6) in 1933, depicting the Emperor and empress. The birr (Amharic) / thalers (Latin) unit was reformed as well and had been admitted into decimal system and from being divided into 16 Gersh (Piastres) it was now divided into 100 metonnyas (often written matonas). Following the Italian occupation of Ethiopia in 1935 and its transformation into Italian East Africa, the thaler was abolished and the Italian lira was introduced as the only legal tender (15 July 1936); Ethiopian banknotes were withdrawn from circulation at 3 lire per thaler (birr). In an effort to increase the use of Italian paper money, the exchange rate for silver coin (Maria Theresa thalers) was raised to 4.50 lire, then to 5.00, and eventually, in stages, to 13.50. Still, many people kept their Ethiopian coins and banknotes. Regular banknotes of Banca d’Italia circulated after 15 July 1936. Special notes with a red overprint were authorised for Italian East Africa on 12 September 1938, and a large quantity was printed. It is not clear, however, when, where, and to what extent these special notes actually circulated (Italian East Africa Pick 1-4).

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x267 Bank of Ethiopia specimen 2 thalers, 1 June 1933, serial number A 000000, blue & multicoloured, Emperor Haile Selassie and Empress at centre, value at left, right and each corner, reverse blue and white, value at centre, also included in the lot are a uniface obverse and reverse colour trial 2 thalers, 1933, brown-pink, design as specimen. (Pick 6s for type) perforated, uncirculated, rare and attractive (3) Estimate ÂŁ450-550

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x268 Bank of Ethiopia specimen 5 thalers, 29 April 1933, serial number A/2 20001A/2 26000, purple & multicoloured, Greater Kudu at centre, Royal Lion of Judah at right, bank building at left, reverse lilac and green and pale orange, value at centre. (Pick 7s for type), perforated, ink date

‘4.3.33’ in top margin, good extremely fine. This date unrecorded in Pick, very rare Estimate £1200-1500

x269 Bank of Ethiopia specimen 5 thalers, 31 May 1935, serial number A/3 26001-36000, purple & multicoloured, Greater Kudu at centre, Royal Lion of Judah at right, bank building at left, reverse lilac and green and pale orange, value at centre. (Pick 7s for type), perforated, ink date

‘22.3.35’ in top margin, good extremely fine. This date unrecorded in Pick, very rare Estimate £450-550

242

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x270 Bank of Ethiopia specimen 10 thalers, 1 May 1932, serial number B/100000-B/1 00000, purple & multicoloured, leopard at centre, bank buiding at righ, Royal Lion of Judah at left, purple, pale green and pink-red, value at left and right. (Pick 8s) perforated, red CANCELLED

overprint at left and right, ink date ‘20.2.32’ in top margin, extremely fine, rare Estimate £500-600

x271 Bank of Ethiopia specimen 10 thalers, 29 April 1933, serial number B/2-15001 B/2-20000, purple & multicoloured, leopard at centre, bank buiding at righ, Royal Lion of Judah at left, purple, pale green and pink-red, value at left and right. (Pick 8s) perforated, ink date ‘4.3.33’ in

top margin, extremely fine, rare Estimate £800-1200

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x272 Bank of Ethiopia specimen 50 thalers, 1 May 1932, serial number C/1-00001 C/1-11000, blue & multicoloured, lion at centre, Royal Lion of Judah top right, bank building top left, reverse purple, pale orange and pale green, value value at centre. (Pick 9s) perforated, ink date ‘20.2.32’

in top margin, good extremely fine, rare Estimate £600-700

x273 Bank of Ethiopia specimen 50 thalers, 29 April 1933, serial number C/2 11001C/2 14000, blue & multicoloured, lion at centre, Royal Lion of Judah top right, bank building top left, reverse purple, pale orange and pale green, value value at centre. (Pick 9s) perforated, ink date ‘4.3.33’ in

top margin, good extremely fine, rare Estimate £600-700

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x274 Bank of Ethiopia specimen 100 thalers, 1 May 1932, serial number D/1-00001 D/1-10000, bluegreen & multicoloured, Royal Lion of Judah at top left centre, elephant at right, bank building at left, reverse purple and pink-red, value at centre. (Pick 10s) perforated, ink date ‘20.2.32’

in top margin, good extremely fine, rare Estimate £700-900

x275 Bank of Ethiopia specimen 100 thalers, 29 April 1933, serial number D/2 10001-D/2 13700, blue-green & multicoloured, Royal Lion of Judah at top left centre, elephant at right, bank building at left, reverse purple and pinkred, value at centre. (Pick 10s) perforated, ink date ‘4.3.33’

in top margin, good extremely fine, rare Estimate £700-800

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x276 Bank of Ethiopia, Issued Note 500 thalers, 1 May 1932, serial number E/1 1231-E/1 1231, purple & multicoloured, Abyssinian warrior at left, Royal lion top right centre, bank building at right, value at each corner, reverse purple and pale pink-red, value. (Pick 11), small annotation on reverse, very fine and Extremely Rare for Issued note in this

condition, a handsome note Estimate ÂŁ1,000-1,200

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State Bank of Ethiopia On 5 May 1941, following the East African Campaign (June 1940 to November 1941) the Italian forces were evacuated from Ethiopia. British forces brought with them Indian, Egyptian, British, and British East African currency, and all were received in official payments. Italian coins and notes of up to 50 lire were allowed to continue in circulation to serve as small change; higher denominations were withdrawn at a rate of 24 lire per shilling. Maria Theresa thalers were allowed to circulate with a value of 1s 10½d (or 45 lire). The East African shilling became the money of account on 1 July 1942; it eventually became the sole legal tender and remained so until 1945. On 15 April 1943, the State Bank of Ethiopia became the central bank and was active until 1963. It should be mentioned that the term ‘State’ in the bank’s title was made to emphasise Ethiopia re-gaining independence and its institutes being owned by it rather than the familiar modern term, related to socialism. The birr was reintroduced in 1945 at a rate of 1 birr = 2 shillings. The Latin currency name was set as Ethiopian dollar. It was divided into 100 santim (derived from the French centime). New banknotes were issued into general circulation in denominations of 1, 5, 10, 50, 100 and 500 dollars (Pick 12-17). Unlike the earlier issues using French text, English text was used on the banknotes. The series was printed by the American company, Security Banknote Company, with very an interesting use of colours; obverse sides of all denominations were in black and white with very light coloured shades on the top while the each reverse side was printed in a different bold colour. In 1961 the bank introduced its second series (Pick 18-24).

Emperor Haile Selassie www.spink.com

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x277 State Bank of Ethiopia, a specimen set of the issue of 1945, all with red serial number AA 000000, comprising $1,5,10,50,100 and $500, all are black and white with various colour panels top left and right in either pale green, blue or pink. All with Emperor Haile Selassie at left, various vignettes in field, reverse various colours, the Royal Lion of Judah at centre. (Pick 12s, 13s, 14s, 15s 16s, 17s), all are in PMG holders and all are graded 66 EPQ except the 100 which is graded 67 EPQ, rare (6) Estimate ÂŁ1,800-2,200 248

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OCTOBER 4, 2013 - LONDON

x278 State Bank of Ethiopia, $1 and $5, ND (1945), black and white, pale salmon panel top left and right, Emperor Haile Selassie at left, Barnett and Manery signatures respectively. (Pick 12b,13a), good very fine and fine (2) Estimate ÂŁ80-100

x279 State Bank of Ethiopia, a uniface colour trial $100, ND (type of 1945), no serial numbers, purple and pale green, Emperor Haile Selassie at left, the Imperial Palace at centre, value at each corner, Rozell signature low right This colour trial is very interesting as we can conclude that initial designs considered the use of colour in oppose to the black and white used for all obverse sides. The purple colour was used for the reverse side of the actual 1945 100 dollars (Pick 16). (Pick 16ct), good extremely fine and

very rare Estimate ÂŁ300-350 www.spink.com

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x280 State Bank of Ethiopia, $500, ND (1945), red serial number AA040443, black and white, pale pink panel top left, pale green top right, Emperor Haile Selassie at left, Holy Trinity Church in Addis Ababa at centre, Bennett signature, reverse green, the Royal lion of Judah at centre. (Pick 17b), ink numeral on reverse, very fine, scarce Estimate ÂŁ250-300

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OCTOBER 4, 2013 - LONDON

A superb group presentation album of the State Bank towards the second series As discussed earlier, the first State Bank series was introduced in 1945 and after the WWII was over. After more than a decade the notes needed to be changed and adjust in style and security to the current time. As suggested from the handwritten/ printed comment on the progressive proofs presented in next pages, we can learn that the second series which was released into general circulation in 1961 (Pick 18-24), was already discussed as early mid 1950’s with quite advanced semi-final designs presented in 1958. It can be concluded that execution of suggested designs was carried out by several printing and engraving firms until final contract. The album is accompanied by a letter from the designer written in both English and French; it remains unclear who was the designer of presentation album; designs are clearly a mixture of the State Bank first (1945) series which was the current at the time (Pick 12-17) combined with the modern design and motifs which are familiar to what became the actual second series. The suggested designs are for the entire series i.e. 1 to 500 dollars with an additional proposed 1 dollar note which is described in the accompanying letter was made by the designers at liberty to suggest additional design. Lot no. x281 (pp.251-262)

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Lot No. x281

252

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OCTOBER 4, 2013 - LONDON

Lot No. x281

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253


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Lot No. x281

254

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Lot No. x281

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255


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Lot No. x281

256

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OCTOBER 4, 2013 - LONDON

Lot No. x281

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257


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Lot No. x281

258

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Lot No. x281

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259


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Lot No. x281

260

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Lot No. x281

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x281 State Bank of Ethiopia, a green leather and gold presentation album of hand executed proposed designs for an issue of currency, ND (c.1961), and comprising 1 Ethiopian dollar, green, Parliament building, 5 dollars, brown, the Blue Nile Falls, 10 dollars, railway terminus, 20 dollars, harbour on the Red Sea, 50 dollars, blue, cattle, 100 dollars, violet, the Posts and Telegraph building, 500 dollars, green, the Imperial Palace, all have the portrait of Emperor Haile Selassie and the Star of Ethiopia, all have the Lion of Judah on reverse, all have serial number AA000000, there is one additional essay for a 1 dollar with modified design. (Pick unrecorded), unique Estimate ÂŁ5,500-6,500

262

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OCTOBER 4, 2013 - LONDON

A superb group of progressive proofs of the State Bank second series Bradbury & Wilkinson were eventually contracted to engrave and print the State Bank second series. As suggested from the handwritten / printed comment on the proofs, we can learn that although the series was released into general circulation in 1961, its design was in quite advanced semi-final stage as early as 1958.

x282 State Bank of Ethiopia, a group of five uniface progressive proofs for the $1, ND (1958), obverses (2), one in green and white with portait of Haile Selassie at right, coffee bush at left, one reverse with the Royal Lion of Judah at centre, three with only partial background detail. (Pick 18 for type), ink annotation on obverse proof, good extremely fine, unusual and very rare (5) Estimate ÂŁ350-450 www.spink.com

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x283 State Bank of Ethiopia, a group of six uniface progressive proofs for the $5, ND (1961), obverses (5), one in orange and white with portait of Haile Selassie at right, Addis Ababa University at left, four obverse proofs with partial background detail only, one reverse in orange and white with the Royal Lion of Judah at centre. (Pick 19 for type), printed annotation ‘29.10.59’ on lower margin of obverse proof, good extremely fine, unusual and very rare (6) Estimate £400-500 264

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OCTOBER 4, 2013 - LONDON

x284 State Bank of Ethiopia, a group of six uniface progressive proofs for the $10, ND (1958), obverses (2), one in red and white with portait of Haile Selassie at right, Massawa harbour at left, one partial background. One reverse in red and white with the Royal Lion of Judah at centre, three with only partial background detail. (Pick 20 for type), printed date ‘20.10.58’ in low margin of obverse proof, good extremely

fine, unusual and very rare (6) Estimate £400-500 www.spink.com

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x285 State Bank of Ethiopia, a group of six uniface progressive proofs for the $20, ND (1958), obverses (4), one in brown and white with portait of Haile Selassie at right, a monument at Axum at left, three obverse proofs with partial background detail only, one reverse in brown and white with the Royal Lion of Judah at centre, one reverse with partial background only. (Pick 21 for type), printed annotation ‘29.10.58’ on lower margin of obverse proof, good extremely fine, unusual and very rare (6) Estimate £450-550 266

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OCTOBER 4, 2013 - LONDON

x286 State Bank of Ethiopia, a group of eight uniface progressive proofs for the $50, ND (1958), obverses (4), one in blue and white with portait of Haile Selassie at right, a bridge over the Blue Nile at left, three obverse proofs with partial background detail only, one reverse in blue and white with the Royal Lion of Judah at centre, three reverses with partial background only. (Pick 22 for type), printed annotation ‘13.11.58’ on lower margin of obverse proof, mounting traces on two reverses otherwise good extremely fine, unusual and very rare (8) Estimate £500-600 www.spink.com

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x287 State Bank of Ethiopia, a group of eight uniface progressive proofs for the $100, ND (1958), obverses (6), one in purple and white with portait of Haile Selassie at right, Trinity Chuch at Addis Ababa at left, five obverse proofs with partial background detail only, one reverse in purple and white with the Royal Lion of Judah at centre, one reverse with partial background only. (Pick 23 for type), printed annotation ‘13.11.58’ on lower margin of obverse proof, two partial

obverses with mounting traces otherwise good extremely fine, unusual and very rare (8) Estimate £500-600 268

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OCTOBER 4, 2013 - LONDON

x288 State Bank of Ethiopia, a group of eight uniface progressive proofs for the $500, ND (1958), obverses (7), one in green and white with portait of Haile Selassie at right, Fasilides Castle at Gondar at left, six proofs with partial background detail only, one reverse in green and white with the Royal Lion of Judah at centre, one reverse with partial background only. (Pick 24 for type), printed annotation ‘12.1958’ on upper margin of obverse proof, mounting

traces on two partial obverses otherwise good extremely fine, unusual and very rare (8) Estimate £550-650 www.spink.com

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x289 State Bank of Ethiopia, $1, green, $5, orange, $10 (2), red, all ND (1961), all Emperor Haile Selassie at right. (Pick 18a, 19a, 20a), very fine, one $10

uncirculated,Ex Mel Stienberg (4) Estimate £250-300

x290 State Bank of Ethiopia, specimen $20, brown and multicoloured, prefix D/1, also specimen $50, blue and multicoloured, prefix E/1, both Emperor Haile Selassie at right.

perforated, red SPECIMEN overprint, uncirculated and scarce (2) (Pick

21s,

22s),

Estimate £150-180

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OCTOBER 4, 2013 - LONDON

x291 State Bank of Ethiopia, $100, ND (1961), serial number F/1-000002, purple and multicoloured, Emperor Haile Selassie at right, the Holy trinity Church in Addis Ababa at left, Governor signature, reverse purple and multicoloured, the Royal lion of Judah at centre, value at each corner. A spectacular number 2 note. (Pick 23a), uncirculated and an exceptional very low serial number Estimate ÂŁ1,000-1,200

x292 State Bank of Ethiopia, specimen $500, ND (1961), serial number G/1-000000, green and multicoloured, Emperor Haile Selassie at right, Fasilides Castle at Gondar at left, reverse green, the Royal lion of Judah at centre, value at each corner. (Pick 24s), perforated, red SPECIMEN

overprint, uncirculated and rare (1) Estimate ÂŁ140-180

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271


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

National Bank of Ethiopia The National Bank of Ethiopia was established in 1963 by proclamation 206 of 1963 and began operation in January 1964. Prior to this proclamation, the Bank used to carry out dual activities, i.e. commercial banking and central banking. The proclamation raised the Bank’s capital to 10 million Ethiopian dollars and granted broad administrative autonomy and juridical personality. Following the proclamation, one of the National Bank of Ethiopia’s responsibilities was to issue banknotes. With the political change in 1974, monetary and banking proclamation No. 99 of 1976 came into force on September 1976 to shape the Bank’s role adhering to the socialist economic principle that the country adopted. The proclamation introduced the new Ethiopian currency ‘birr’ in place of the former Ethiopia Dollar that ceased to be legal tender thereafter. The bank issued only one Imperial series, the 1966 1, 5, 10, 50 and 100 dollars (Pick 25-29). Several designs were proposed as we can learn from several essays (refer to Spink catalogue, sale 12024, World Banknotes, 13 December 2012, lot 171). In 1973 a new series was considered (refer to Spink catalogue, sale 12023 World Banknotes, 2 October 2012, lot 472) but apparently due to the September 1974 military coup and the overthrow of Emperor Selassie it didn’t mature into an actual series. Following the 1976 proclamation, the new series was issued (Pick 30-34) with its design being in use update.

x293 National Bank of Ethiopia, a group of the 1966 ND Issue, all with Emperor Haile Selassie at right and arms, comprising issued $10,Red multicoloured under print National Bank Of Ethiopia at Addis Abbaba,No. L077624 and $100 (2), purple and green on multicoloured underprint, rock church at left,No.C047967 & C506859. [Pick 27a, 29a (2)], P.27a VF, P.29a,

both uncirculated (3) Estimate £140-200

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OCTOBER 4, 2013 - LONDON

x294 National Bank of Ethiopia, specimen $1, green and multicoloured, prefix A, also specimen $5, brown and multicoloured, prefix B,also specimen Red, $10 prefix A and specimen $50, blue, prefix A, all ND (1966), Emperor Haile Selassie at right. (Pick 25s, 26s, 27s, 28s), red SPECIMEN overprint, uncirculated and scarce (4) Estimate ÂŁ200-220

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273


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x295 National Bank of Ethiopia, a group of the EE 1969 (1976) Issue comprising 1 Birr (2), green and multicoloured, young man at right, reverse waterfalls, signatures 1 and 2; specimen 5 Birr, orange-brown and multicoloured, man picking coffee beans at right, reverse kudu and caracal, one punch hole; 50 Birr, blue and black on multicoloured underprint, science students at right, reverse castle, one punch hole and 100 Birr (2) No AP003245 & AN898100, both purple and multicoloured, warrior at right, reverse man with microscope. (Pick 30a, 30b, 31bs, 33bs, 34a, 34b), the first about uncirculated, the remainder uncirculated (6) Estimate ÂŁ60-80

274

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OCTOBER 4, 2013 - LONDON

x296 National Bank of Ethiopia, a group of the EE 1969 (1987) 1 Birr (2), green and multicoloured, young man at right, reverse waterfalls, signature 3 and issued 5 Birr, both signature 2, orange-brown and multicoloured, man picking coffee beans at right, reverse kudu and caracal; specimen 10 Birr, one punch hole, and issued 10 Birr (2), all brown-violet and multicoloured, woman weaving basket at right, reverse tractor, all signature 3; 50 Birr, blue and multicoloured, science students at right, reverse castle, signature 3; 100 Birr, purple and multicoloured, warrior at right, reverse man with microscope, signature 3; a specimen 5 Birr, one punch hole. Also a group of EE 1969 (1991) issues comprising 1 Birr signature 4 and specimen 5 Birr signature 3. [Pick 36(2), 37, 38s, 38(2), 39, 40, 41c, 42as], the first three uncirculated,

the fourth good fine, the fifth, sixth and seventh uncirculated, the eighth about uncirculated, the ninth good very fine, the tenth very fine, the specimens scarce and a useful lot (10) Estimate ÂŁ60-80

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x297 National Bank of Ethiopia, a group of the EE 1989 (1997) to EE1995 (2008) Issues comprising 1 Birr, 1997, signature 5, black on multicoloured underprint, young man at right, reverse waterfalls; 5 Birr (2), 1997, signature 5 and 2000, signature 6, both blue and multicoloured, man picking coffee beans at right, reverse kudu and caracal; 10 Birr (4), 2000, signature 6 (2), 2003, 2008, all brown and multicoloured, woman weaving basket at right, reverse tractor,; 50 Birr (5), 1997, signature 5, 2000, 2004 (2) and 2008, orangebrown and multicoloured, farmer with oxen at centre, reverse castle, , and 100 Birr (4), 2000, signature 6, 2004, 2006 and 2008, green and multicoloured, farmer with oxen at centre, reverse man with microscope. [Pick 46a, 47a, 47b, 48b (2), 48c, 48e, 49a, 49b, 50b,51b (2), 51c, 52b, 52c, 52d], the P52d about uncirculated, the

remainder uncirculated (16) Estimate ÂŁ50-70

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French Equatorial Africa French Equatorial Africa (Afrique équatoriale française) or the AEF was the federation of French colonial possessions in Middle Africa (west-central Africa), extending northwards from the Congo River to the Sahara Desert, had an area of 969,111 sq. mi. (2,509,987 sq. km.) and a population of 3.5 million. Capital: Brazzaville. The federation was established in 1910 in order to strengthen French hold over the territories as it was in the successful case of French West Africa (Afrique occidentale française, AOF), a federation of eight French colonial territories in west Africa, established in 1895. AEF included four self governing dependencies; Middle Congo, Ubangi-Shari (OubanguiChari), Chad and Gabon (Gabun). In 1922 French Cameroun became a “Comissariat de la République autonome” (Autonomic Republic Commissioners) under French mandate within AEF. During World War II, the federation rallied to the Free French Forces under Félix Éboué in August 1940, except for Gabon which was Vichy French between 16 June 1940 and 12 November 1940; the federation became the strategic centre of Free French activities in Africa. Under the Fourth Republic (1946–58), the federation was represented in the French parliament and the dependencies were changed from colonies to territories within the French Union in 1946, and all the inhabitants were made French citizens. When the territories voted in the September 1958 referendum to become autonomous within the French Community, the federation was dissolved. In 1959 the new republics formed an interim association called the Union of Central African Republics, before becoming fully independent in August 1960, known as Equatorial African States. Other than the 1917 emergency issue (Pick 1-3), up to WWII, French Equatorial Africa had no banknotes of its own and the currency used in the federation was of French West Africa. Following the fall of France in 1940, each of the two federations admitted to different a French entity, and thus a separation of currency was needed.

RULERS: French to 1960 MONETARY SYSTEM: 1 Franc = 100 Centimes


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Gouvernement General de l’Afrique Equatoriale Francaise, trésorier In 1917 AEF issued currency notes of 50 centimes, 1 and 2 francs (Pick 1-3), in order to overcome the shortage of coins of the same denominations (just as it was with AOF territories – refer to Cameroun). The notes were signed by (AEF) Treasury Payer, le trésorier payeur (de l’Afrique Equatoriale Francaise) and the (AEF) General Governor, le Gouverneur général (de l’Afrique-Équatoriale française); and were in use until early 1920’s (as signatures indicated). x298 Gouvernement General de l’Afrique Equatoriale Francaise, 50 Centimes, No.1,067,117 ND (1917), emergency issue, green on blue underprint, watermark laurel leaves, value in all four corners, at left-hand side signed by le trésorier payeur de l’Afrique Equatoriale Francaise, Pujol and at right-hand side by Gouverneur général de l’AfriqueÉquatoriale française, Gabriel Angoulvant; reverse a monogram AEFT, stands for Afrique Equatoriale Francaise trésorier in guilloche at lower centre. (Pick 1b), very fine, very scarce Estimate £350-400

x299 Gouvernement General de l’Afrique Equatoriale Francaise, 1 Franc, No.030,969, ND (1917), emergency issue, red on blue underprint, without watermark, value in all four corners, at left-hand side signed by le trésorier payeur de l’Afrique Equatoriale Francaise, Pujol and at right-hand side by Gouverneur général de l’AfriqueÉquatoriale française, Gabriel Angoulvant; reverse a monogram AEFT, stands for Afrique Equatoriale Francaise trésorier in guilloche at lower centre. (Pick 2a), two pinholes, slight staining, otherwise about uncirculated and very scarce Estimate £350-400

278

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OCTOBER 4, 2013 - LONDON

WWII and French Equatorial Africa On 18 June 1940, following General Charles

Mer (CCFOM) CCFL re-titled (Pick 15-20;

de Gaulle famous speech of that same day

Schwan p.126; LeClerc 204-207). This

(broadcasted via BBC Radio, calling the French

specific authority continued to operate after

nation to fight on against the German occupation

the war as well.

in order to liberate France) and becoming de facto, leader of the Free French (known as FFL),

Gouvernement General de l’Afrique Equatoriale Francaise, Bon de Caisse

Félix Éboué, Governor of Chad, admitted to Free

These notes (Pick 4, 4A, 5) were issued as Bon

France. On 26 August, the military forces declared officially their loyalty to Free France and on 12 November, Éboué was appointed by de Gaulle as the Governor of Free French Equatorial Africa. This chain of events positioned AEF in the other side of the barricade than AOF which admitted to the new French State, (commonly referred to as Vichy France).

de Caisse which i.e. cash voucher, rather than banknotes by the new Free France government; two different 1,000 franc notes and 5,000 francs were printed locally. The reverse side of the notes designed as a circulation control register, as done over registered checks. According to Schwan they were in circulation until 1 October 1942. The notes are signed by le gouverneur général,

The new political change led to the obvious halt

General Governor, Gal (stands for the military

of AOF currency into AEF, giving rise to a fear that

rank ‘General’) (Edgard) de Larminat and le

the reserves of local notes would be exhausted,

trésorier general, General Treasury, Jaffeux. The

making it impossible to respond to public demand.

high denomination of the notes implies that it was

In addition, the demand for banknotes by the Free

due to the typical characteristics of the other Free

France army forces stationed in the countries was

France loyal territories at the time that suffered

very large and increased rapidly.

from banknotes shortages along with inflation rise

Thus the measure of local printing was taken and

during the war time and the increase in demand

during the war times there were four authorities that issued banknotes to be used in the territory:

for cash by the public and military forces stationed there.

1. 1940, Gouvernement General de l’Afrique Equatoriale Francaise, General Government of French Equatorial Africa (Pick 4, 4A, 5; Schwan 2. p.123; LeClerc 189-196). 3. 1941, Afrique Francaise Libre printed from bank of AOF plates (Pick 6-9; Schwan p.124; LeClerc 192-196). 4. 1941, Caisse Centrale de la France Libre (CCFL) notes (Pick 10-14A; Schwan p.125; LeClerc 197-202) 5. 1944, Caisse Centale de la France d’Outrewww.spink.com

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x300 Gouvernment General de L’Afrique Equatoriale Francais, 1,000 Francs, ND (1940), serie R, serial number 17695, pale green on cream paper, man rowing boat at centre, value in red at lower right and lower left, reverse, “Cadre de Controle” in rectangular lined boxes. (Pick 4), 40 mm tear at left, 35mm tear at right, smaller tears at top and bottom, otherwise about extremely fine, One of most excessively rare in any grade and the hardest to find, an unusual note sized 214x140mm Estimate £5,000-7,000 280

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OCTOBER 4, 2013 - LONDON

Afrique Francaise Libre In 1941 new notes were printed to replace the 1940 provisional Bon de Caisse issue; notes of 5, 25, 100 and 1000 francs (Pick 6-9) were issued. This series is most fascinating on few aspects; Design and printing – the series was identical in design to the one of Banque de l’Afrique occidentale française which issued in 1934-7 (French West Africa Pick 2124) but the bank’s title was changed to Afrique Francaise Libre, Free French Africa accompanied with French flag. Though remaining in their French printing scheme, the notes were printed in Britain with no printer name; judging by the serial numbers type it can be presumed that the printer was Bradbury & Wilkinson. Unlike the AOF notes, this series had no date. Issuing authority – the use of Free French Africa as issuer is most interesting as this was a political entity which arose in war time circumstances and was not an issuing entity. Signatures were of the General Governor, (Edgard) de Larminat but unlike the provisional issue, now titled Pour le Consiel de Défense, for the Defence Council, and Pierre Denis (was known during the war as Pierre Rauzan) titled le Directeur Financier, the Finance Director. x301 Afrique Francaise Libre, 5 Francs, No.Al10 238 035 ND (1941), and specimen 5 Francs, No.A/35 137 395 ND (1941), overprinted SPECIMEN in red on obverse and reverse and perforated No.114, both green, brown and multicoloured, man at centre, reverse man weaving; 25 Francs, No.E782 200 ND (1941), and specimen 25 Francs, No. E391946 ND (1941), overprinted SPECIMEN in red on obverse and reverse and perforated 114 , both red, blue and multicoloured, man wearing turban with horse, reverse lion. (Pick 6a, 6s, 7a, 7s), the first about

uncirculated, the second stains, otherwise about very fine, the third pin holes, otherwise very fine, the fourth about very fine (4) Estimate £100-140 www.spink.com

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x302 Afrique Francaise Libre, 100 Francs,No. K540 007 ND (1941), and specimen 100 Francs, No.K 968 853, ND (1941), overprinted SPECIMEN in red on obverse and reverse and perforated 114, both dark brown, lilac and multicoloured, two women at centre, reverse woman with basket. (Pick 8a, 8s), the first usual pinholes, otherwise very fine, the second usual pinholes, pressed, otherwise good fine and very scarce (2) Estimate ÂŁ300-400

282

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OCTOBER 4, 2013 - LONDON

x303 Afrique Francaise Libre, specimen 1,000 Francs,No. B062 520 ND (1941), brown, yellow and green, French woman with African woman and child on obverse and reverse, overprinted SPECIMEN in red on obverse and reverse and perforated 114. (Pick 9s), pressed, slight staining, otherwise extremely fine and rare Estimate ÂŁ500-700

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283


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Caisse centrale de la France libre and Caisse Centale de la France d’Outre-Mer On 2 December 1941, the French National Committee, Comité national français (known as CNF) established the Central Cashier of Free France, Caisse centrale de la France libre (known as CCFL) with René Pleven as its President, headquartered in premises adjacent to the Bank of England’s Threadneedle Street building, London, England. The role of the CCFL was set out in its 1941 founding document: it was to be the note issuer and national treasury of de Gaulle’s Free France. Thus it functioned as the central bank and treasury of Free France, and on 24 July 1942 was given note-issuing privileges and coins for the colonies and overseas territories which were under Free France control. On 2 February 1944, the CCFL was re-titled as the Central Cashier of Overseas France, Caisse Centale de la France d’Outre-Mer (known as CCFOM), headquartered in Algiers, Algeria and since 20 June 1945 in Paris, France. The issuing of banknotes by the CCFL and later on by the CCFOM guarded against the threat of speculative trade and exchange of banknotes issued by territories under the Free France authority (which were at a fixed rate to the pound sterling) to banknotes of Vichy France controlled regions (which suffered from high inflation). With the end of the war CCFOM continued to operate in French overseas territories as a control bank / monetary institute. Starting 1947 it began to issue a regular banknotes (Pick 20B-27); issues included French Antilles, French Guiana, Guadeloupe, Martinique, Reunion and Saint Pierre et Miquelon; the notes issued for AEF were exceptional as they had no territory name overprint.

284

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OCTOBER 4, 2013 - LONDON

x304 Caisse Centrale de la France Libre, specimen 10 Francs, No. FC 551,907 Law of 1941, purple on brown and blue underprint, portrait of Marianne at centre, reverse value at left and right, overprinted SPECIMEN in red on obverse and reverse and perforated 114; 100 Francs, No.PD 620,778 Law of 1941, green on yellow underprint, portrait of Marianne at centre, reverse anchor, barrel and bales. (Pick 11s, 13a), the first good extremely fine, the second very good to fine (2) Estimate ÂŁ650-700

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285


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x305 Caisse Centrale de la France Libre, 1000 Francs, Law of 1941, red serial number TA579,531, dark blue on green and pink underprint, phoenix rising from the flames, reverse house, cart and tree before and after reconstruction (Dabbah book, Printed in Palestine, Page 28). (Pick 14a), pressed, small hole at lower left, otherwise

very fine and very rare in any grade Estimate ÂŁ700-900

286

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OCTOBER 4, 2013 - LONDON

x306 Caisse Centrale de la France d’Outre-Mer, specimen 20 Francs, Law of 1944, red serial number L.D451,028, signature A. Duval, green on blue and pale yellow underprint, portrait of Marianne at centre, reverse value at left and right, overprinted SPECIMEN in red on obverse and reverse and perforated 114. (Pick 17as), choice about uncirculated to uncirculated and

very rare Estimate ÂŁ500-700

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287


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x307 Caisse Centrale de la France d’OutreMer, 5 Francs, No. AV 063,073, Law of 1944, blue serial number, signature Postel Vinay, red, and 10 Francs, No. A 522,381,Law of 1944, black serial number with prefix “A” in plate, purple, both portrait of Marianne at centre, reverse value at left and right; also 100 Francs, No. PQ 600,971,Red Serial number, Law of 1944, green on yellow underprint, Marianne at centre, reverse anchor, barrel and bales. (Pick 15b, 16d, 18), the first uncirculated, the second very good, the third attractive good very fine (3) Estimate £550-650

288

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OCTOBER 4, 2013 - LONDON

x308 Caisse Centrale de la France d’Outre-Mer, 1,000 Francs, Law of 1944, black serial number TD000,000, dark blue on green and pink underprint, phoenix rising from the flames, reverse house, cart and tree before and after reconstruction, overprinted SPECIMEN diagonally in red on obverse and reverse, two punch holes. (Pick 19s1), (Dabbah book: Printed in Palestine, Page # 29)

four pinholes, otherwise about uncirculated and rare Estimate ÂŁ750-850

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289


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x309 Caisse Centrale de la France d’Outre-Mer, 20 Francs, ND (1947), uniface proof, serial number O.000000000, brown and multicoloured, Emil Gentil at right, villagers at left. (Pick 22, proof), about uncirculated to uncirculated

and very rare and to find in such condition Estimate £500-700

290

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OCTOBER 4, 2013 - LONDON

x310 Caisse Centrale de la France d’OutreMer, 10 Francs, No. 054186210 ND (1947), blue and multicoloured, Colbert at left, reverse river scene; 50 Francs, No. 093012587 ND (1947), multicoloured, Belain d’Esnambuc at left, reverse topless woman. (Pick 21, 23), about uncirculated to

uncirculated and very scarce in this grade (2) Estimate £300-400

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291


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x311 Caisse Centrale de la France d’OutreMer, specimen 50 Francs, ND (1947), serial number O.000000000, multicoloured, Belain d’Esnambuc at left, reverse topless woman, overprinted SPECIMEN in black twice on obverse and reverse and perforated SPECIMEN; specimen 100 Francs, ND (1947), serial number O.000000000, multicoloured, La Bourdonnais at left, two women at right, reverse woman and mountains, perforated SPECIMEN. (Pick 23s, 24s), the first good extremely fine, the second about uncirculated to uncirculated (2) Estimate £450-550

292

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OCTOBER 4, 2013 - LONDON

x312 Caisse Centrale de la France d’Outre-Mer, 100 Francs, ND (1947), No. 253906542, multicoloured, La Bourdonnais at left, two women at right, reverse woman and mountains; 500 Francs, No.13167597,ND (1947), multicoloured, two women at right, reverse ox carts; 1,000 Francs, No. 015872141, ND (1947), multicoloured, two women, “Union Francaise”, at right, reverse woman at right, canoe on the river at left. (Pick 24, 25, 26), the first about very

fine, the remainder good fine (3) Estimate £350-400

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293


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Institut d’Emission de l’Afrique Equatoriale et du Cameroun The Institut d’Emission de l’Afrique Equatoriale et du Cameroun, the Issuing Institute of French Equatorial Africa and Cameroun, was established in 1957, replacing the CCFOM; in 1957-8 it began issuing its own series which was an entirely new design with African oriented; the series included all of the earlier denominations (Pick 2834) except for the 5000 franc note. In 1960 the territories gained their independence from France and by 1961 the Institute was replaced by Banque Centrale des Etats de l’Afrique Equatoriale et du Cameroun which issued only a 100 franc note identical to the 1957 (Equatorial Africa Pick 1-2.

294

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OCTOBER 4, 2013 - LONDON

x313 Institut d’Emission de l’Afrique Equatoriale et du Cameroun, 5 Francs, No. 010680581,ND (1957), multicoloured, Bougainville at right, reverse woman at left with fruit; 50 Francs,No.010005900; ND (1957), green and multicoloured, woman picking coffee beans, reverse men logging in river; 50 Francs, No. 00000000, Stamped Specimen No. 0195, and perforated. 100 Francs (2), ND (1957), blue and multicoloured, Félix Éboué at centre, reverse old man and ships, No 024673290, without Value in writing in English (rare); No.084542422 ND (1957), Félix Éboué at centre, woman at left, Reverse old man and ships; 500 Francs, No.005817773, ND(1957) Greenbrown and multicoloured, woman and huts, reverse railway viaduct. [Pick 28, 31,31s, 32 (2), 33], the first

pinholes otherwise uncirculated, the second very fine, the third pressed, good very fine, the fourth very good, the fifth pressed, good very fine (6) Estimate £750-850

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x314 Institut d’Emission de l’Afrique Equatoriale et du Cameroun, 1000 Francs,Specimen ND (1957), zero serial numbers, multicoloured, woman with cocoa pods, reverse man picking cotton, perforated SPECIMEN with figure 209 on obverse And 1000 Francs, No. 016815127,ND (1957) woman with Cocoa pods, reverse man picking up cotton. (Pick 34, 34s), the first uncirculated, the

second good extremely fine and very scarce in any grade (2) Estimate £850-950

296

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French West Africa French West Africa (Afrique Occidentale Francaise), or the AOF was the federation of eight French colonial territories in the northwest coast of Africa, has an area of 1,831,079 (4,742,495 sq. km.) and a population of about 17 million. Capital: Dakar. French West Africa was formed in 1895, grouping Mauritania, Senegal, French Sudan (now Mali), French Guinea, Côte d’Ivoire (Ivory Coast), Upper Volta (now Burkina Faso), Dahomey (now Benin) and Niger and later on the mandated area of Togo. Following the Fall of France, AOF and AEF General Governor, Pierre Boisson, admitted on 25 June 1940 to Pétain and the French State; as for that and due to Félix Éboué, Governor of Chad from the AEF, rallied to the Free French Forces, Boisson lost his hold on AEF. Following the Anglo-American landing in North Africa, and the rallying of the Army of Africa, on 7 December 1942, Boisson joined the AOF to the Allies; he remained at the head of the AOF until June 1943, when he was forced to leave his post after the creation of the French Committee of National Liberation (CFLN) in June 1943. Under the Fourth Republic (1946–58), the federation was represented in the French parliament and the dependencies were changed from colonies to territories within the French Union in 1946, and all the inhabitants were made French citizens. When the territories voted in the September 1958 referendum to become autonomous within the French Community (other than French Guinea that voted to become the fully independent Republic of Guinea), the federation was dissolved. In 1960 Senegal and former French Sudan became the Mali Federation (1960–61), while Côte d’Ivoire, Niger, Upper Volta and Dahomey subsequently formed the short-lived Sahel-Benin Union, later the Conseil de l’Entente. The present-day independent states are members of the “Union Monetaire OuestAfricaine.”

RULERS: French to 1960

MONETARY SYSTEM: 1 Franc = 100 Centimes 1 Unit = 5 Francs


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Banque de l’Afrique Occidentale Francaise Founded in 1901 in Dakar, Senegal to succeed Banque du Sénégal (itself created by the French on 21 December 1853), the BAO was later expanded to include French Equatorial Africa to administer the common currency of French West Africa. It received special concessions and financial stabilisation from the government, and in essence became an arm of the French colonial administration. The BAO continued to function until 1955, when it transitioned responsibility to the Institut d’Emission de l’AOF et du Togo. In 1959, this function was then succeeded by the Banque Centrale des États de l’Afrique de l’Ouest.

First series The bank introduced its first banknote in 1903, issued under the Conakry Issuing Office; it was a 100 franc note (Pick 10A);in the following year a 5 franc note was issued by three different offices: Cornakry (Pick 5A), Grand-Bassam (Pick 5D) and Saint-Louis (PICK 5F). In 1924, 50, 500 and 1,000 franc notes were introduced as well. During 1924, notes were overprinted on their reverse with the name of a colony/territory and overprinted with the suitable Issuing Office on their obverse (Pick 10B, 12B, 13C, 6D, 7D, 12E, 14E).

Banque de l’Afrique-Occidentale, Dakar, Senegal, 1904 298

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OCTOBER 4, 2013 - LONDON

x315 Banque De L’Afrique Occidentale (French West Africa), 5 francs (2), Dakar, 1919,1932, No.W.875-594 & P.4993-039 orange, blue and red, lion top left, allegorical symbols top right. (Pick 5Ba, 5Bf), good fine and almost

fine (2) Estimate £60-80

x316 Banque De L’Afrique Occidentale (French West Africa), 5 francs, GrandBassam, 10 July 1919, prefix H, No. 647-357,orange, blue and red, lion top left, allegorical symbols top right. (Pick 5Db), about very fine, scarce Estimate £200-250

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299


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x317 Banque De L’Afrique Occidentale (French West Africa), 25 francs, Dakar, 9 July 1925, violet and green, elephant and allegorical symbols, cock top centre, reverse red-brown, Arabictexton the left. (Pick 7B), good fine, scarce Estimate £80-120

x318 Banque De L’Afrique Occidentale (French West Africa), 50 francs (2), Dakar, 11 September 1919, serial number U.16-451, orange and blue, elephant and allegorical symbols at left and right, cock top centre, two printed signatures, manuscript signature of Le Caissier low right. (Pick 9Ba), pinholes at left otherwise

almost uncirculated. Fresh and very rare in this grade Estimate £800-1,000

300

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OCTOBER 4, 2013 - LONDON

x319 Banque de L’Afrique Occidentale, 50 Francs, Grand-Bassam, 12 June 1924, serial number F 62 542, blue and pale yellow, elephant head and palm tree at left, steamship and tree at right, reverse script set in ornate patterns. (Pick 9Db), Ex Mel Steinberg slight

staining otherwise extremely fine and rare in this grade Estimate £700-900

x320 Banque De L’Afrique Occidentale (French West Africa), 100 francs, Dakar, 24 September 1926, serial number Z.166-989, red and green, elephant and allegorical symbols at left and right, cock top centre, two printed signatures, reverse red-brown. (Pick 11Bb), pinholes, VG, scarce Estimate £140-180

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x321 Banque De L’Afrique Occidentale (French West Africa), 100 francs, Dakar, 24 September 1926, serial number H.118-394, red and green, elephant and allegorical symbols at left and right, cock top centre, two printed signatures, reverse red-brown. (Pick 11Bb), pinholes, good fine, scarce Estimate £100-140

1934 series The bank introduced new series starting 1934. It was French standard printing and design. The notes continued to circulate during the first years WWII as will elaborated further on. x322 Banque de l’ Afrique Occidentale, French West Africa, 5 francs (8), Dated 1.8.35, 12.3.36, 15.3.37, 12.8.37, 10.3.38 & 27.4.39 (3), green and multicoloured, man wearing hat at centre, foliage in background, reverse pale blue and multicoloured, man at loom at centre. (Pick 21), Mixed grades, fine to very

fine, Three about uncirculated (8) Estimate £150-200

302

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OCTOBER 4, 2013 - LONDON

x323 Banque de l’Afrique Occidentale, French West Africa, 25 francs, Dated 1.5.36, 12.8.37, 10.3.38 (2) & 9.3.39, Beige and multicoloured, man and horse at centre, reverse lion at centre. (Pick 22,), generally fine to very fine, the

last note uncirculated (5) Estimate £150-180

x324 Banque de l’Afrique Occidentale, French West Africa, 100 francs (3), 1936, 1940, 1941, blue, pale brown, two women at centre, reverse multicoloured, woman with basket on her head at centre. (Pick 23), VG, fine and very fine (3) Estimate £100-120

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303


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x325 Banque de l’Afrique Occidentale, French West Africa, 1,000 francs, 5 June 1941, serial number D.44-281, multicoloured, two women (France and Africa) with child at centre, reverse as obverse. (Pick 24), VG, top right corner missing, rare Estimate £100-150

304

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OCTOBER 4, 2013 - LONDON

W WII and French West Africa While AEF admitted to free France and AOF expressed its loyalty to the Vichy French State, that new political change led to the obvious halt of AOF currency into AEF. In 1941, in a most unusual act, AEF used AOF plates to print its Afrique Francaise Libre notes (AEF Pick 6-9; Schwan p.124; LeClerc 192-196). AOF Governor, Boisson, ordered that new notes will be printed in order to distinguish them from the AEF notes; in war circumstances it was impossible to offer new designs so inscriptions colours were changed from traditional black to blue at the most visible; only notes of 5 and 25 francs were reissued (Pick 25 and 27) probably as they were most popular. On 7 December 1942, Governor Boisson joined the AOF to the Allies; hence, banknotes supply from France to the territory was halted and new banknotes were issued. The notes are entirely different from any previous series circulated before, in the territory and in French positions in general. Notes were printed in United States in denominations of 5, 25, 100 and 1,000 francs (Pick 28, 30-32; Schwan p.140-141; LeClerc 174-177). In 1943 due to small change shortage, 10 franc note was issued, printed by an Algerian engraver (Pick 29; Schwan NL; LeClerc 164) followed by 5 francs identical to previous but with red inscriptions (Pick 26). In 1944 new notes of 0.50, 1 and 2 francs re printed locally (Pick 33-35; Schwan p.140-1; LeClerc 389-391).

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x326 Banque de l’Afrique Occidentale, French West Africa, 5 francs (8), Dated 6.3.41, 22.4.42, 6.5.42 (3),15.6.42 & 1.10.42& Pick 26, dated 2.3.43, bluegreen and multicoloured, man wearing hat at centre, foliage in background, reverse pale blue and multicoloured, man at loom at centre. (Pick 25, 26), Mixed grades, fine to very

fine, Four about uncirculated (8) Estimate £180-220

x327 Banque de l’Afrique Occidentale, French West Africa, 25 francs (5), Dated, 9.1.1942, 21.2.1942, 24.2.1942 & 1.10.1942 (2), blue, red and pale brown, man with turban and horse on obverse, Lion on the reverse. (Pick 27), fine to very fine (5) Estimate £140-180

306

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OCTOBER 4, 2013 - LONDON

x328 Banque de l’Afrique Occidentale, French West Africa, 5 francs (2), Dated 14.12.1942, yellow-brown and black, girl on profile at centre, 25 francs(2), Dated 14.12.1942, green and black, woman at left and 100 francs, Dated 14.12.1942, pink and black, baobab tree at centre. (Pick 28a, 30a, 31a), almost very fine,

extremely fine and very fine (5) Estimate £250-300

x329 Banque de l’Afrique Occidentale, French West Africa, 10 francs, 2 January 1943,serial number X.207489, yellow-brown and violet, girl at right, value top left, reverse yellowbrown and violet, value at centre. (Pick 29), almost very fine,scarce Estimate £100-120

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x330 Banque de L’Afrique Occidentale, 25 Francs, 14 December 1942, an uncut sheet of three proofs, green and black, woman at left, reverse blue and pink, palm trees at centre, value at either side, two punch holes. (Pick 30 (3) for type), central fold affecting middle note, otherwise about uncirculated to

uncirculated, rare (3) Estimate £300-350

x331 Banque de l’Afrique Occidentale, French West Africa, 1000 francs, 14 December 1942, red serial number R.21-0516167, violet and pale green and pink, dockside scene at centre. (Pick 32a), almost fine, Extremely scarce Estimate £200-300

308

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OCTOBER 4, 2013 - LONDON

x332 Banque de l’Afrique Occidentale, French West Africa, 50 centimes, red, 1 franc, brown and 2 francs, blue, all ND (1944), no serial numbers, fortress, fishermen and beach respectively. (Pick 33, 34, 35), generally about very

fine (3) Estimate £50-70

Post War series and Institut d’Emission de l’Afrique Occidentale Francaise et du Togo x333 Banque de L’Afrique Occidentale, 5 Francs (5), 17 August 1943, 9 March 1948, 19 December 1952, 21 November 1953, 28 October 1954, multicoloured, two woman, reverse man and canoes;10 Francs (2), both 28 October 1954, multicoloured, hunters with bows; reverse man carrying gazelle. [Pick 36 (5), 37 (2)], the first very fine,

the second good very fine, the fifth about uncirculated to uncirculated, the sixth about uncirculated, the remainder fine and a useful lot for the specialist (7) Estimate £40-60

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309


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x334 Banque de L’Afrique Occidentale, 25 Francs (10), 17 August 1943, 6 January 1948,4 June 1948, 29 June 1949, 30 December 1949, 29 December 1950, 2 October 1951, 19 December 1952, 10 April 1953, 28 October 1954, multicoloured, woman at centre, reverse man with bull. [Pick 38 (10)], the first, eighth and tenth

about uncirculated, the fifth extremely fine, the sixth pressed extremely fine, the seventh very fine, the remainder very good and a useful lot for the specialist (10) Estimate £120-160

x335 Banque de L’Afrique Occidentale, 50 Francs (2) 26 April 1950, 10 April 1953, multicoloured, man wearing fez at right, reverse man with bunch of bananas; 100 Francs (3), 2 September 1946, 15 October 1947, 26 April 1950, multicoloured, woman with fruit bowl at centre, reverse man, woman and child. [Pick 39 (2), 40 (3)], the first pressed about uncirculated, the second pressed very fine, the third pressed fine, the fourth very fine, the fifth pressed fine and a useful lot for the specialist (5) Estimate £100-150

310

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OCTOBER 4, 2013 - LONDON

x336 Banque de L’Afrique Occidentale, 100 Francs, 26 April 1950, multicoloured, woman with fruit bowl at centre, reverse man, woman and child. (Pick 40), uncirculated and scarce in this grade Estimate £140-180

x337 Banque de L’Afrique Occidentale, 500 Francs (3), 24 November 1948, 29 December 1950, 8 March 1951, multicoloured, woman with flag at centre, reverse three soldiers, [Pick 41 (3)], the first good, the second

good extremely fine, the third extremely fine, the latter two lovely original notes and very scarce in these grades (3) Estimate £400-600

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x338 Banque de L’Afrique Occidentale, 500 Francs (4), 6 February 1946, 24 November 1948, 27 December 1948, 2 October 1951, all multicoloured, woman with flag at centre, reverse soldiers. [Pick 41 (4)], the first very good, the

second good very fine, the third fine, the fourth ink figure on obverse, nicks in top margin, otherwise good fine (4) Estimate £250-350

x339 Banque de L’Afrique Occidentale, 1,000 Francs, 27 December 1948, No 016879129 and 21 November 1953, No 085385131, multicoloured, woman holding two jugs at left, reverse woman with headdress. (Pick 42 (2)), pressed, otherwise good very fine and very fine Estimate £250-300

312

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OCTOBER 4, 2013 - LONDON

x340 Banque de L’Afrique Occidentale, 1000 Francs dated 21 November 1953, No. 077923351, woman holding two jugs at centre, reverse woman with headdress. (Pick 42) very fine Estimate £180-220

x341 Banque de L’Afrique Occidentale, specimen 5,000 Francs, ND (1947-50), zero serials, multicoloured, France with two local woman at centre, reverse man and woman with musical instrument, perforated specimen. (Pick 43s), pressed, otherwise good

very fine and very scarce Estimate £300-400

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x342 Banque de L’Afrique Occidentale, 5,000 Francs, 22 December 1950, No. 007104235, multicoloured, France with two local woman at centre, reverse man and woman with musical instrument Harb. (Pick 43), attractive original extremely fine and a

handsome note Estimate £500-700

314

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OCTOBER 4, 2013 - LONDON

x343 Institut d’Emission de l’A.O.F et du Togo, 50 Francs, 5 October 1955, No. B7-99619, ulti-coloured, man wearing fez at right, two women at left, reverse man with bunch of bananas. (Pick 44), uncirculated and very scarce

in grade Estimate £220-280

x344 Institut d’Emission de l’A.O.F et du Togo, 50 Francs, 5 October 1955, multicoloured, man wearing fez; 50 Francs, ND (1956), black and multicoloured, three women with bowl; 100 Francs, 20 May 1957, brown and multicoloured, woman and mask; 500 Francs, 23 October 1956, green and multicoloured, bronze figure at right, men at left. (Pick 44, 45, 46, 47), the first very good,

the second about uncirculated, the third good extremely fine, the fourth fine (4) Estimate £200-300

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x345 Institut d’Emission de l’A.O.F et du Togo, 500 Francs, ND (1956), signature 1, green and multicoloured, bronze figure at right, men at left, reverse woman at left, tractor at right, overprinted SPECIMEN No 0148 in black on obverse and perforated SPECIMEN. (Pick 47s), about uncirculated to uncirculated and a very scarce variety Estimate £240-280 316

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Gabon The Gabonese Republic, a member of the French Community, straddles the equator on the west coast of Africa. The hot and humid rain forest country has an area of 267,667 sq. km. and a population of 1.48 million, almost all of Bantu origin. Capital: Libreville. Extravagantly rich in resources, Gabon exports crude oil, manganese ore, gold and timbers. Only two autocratic presidents have ruled Gabon since independence from France in 1960. The current president of Gabon, El Hadj Omar Bongo Ondimba - one of the longest-serving heads of state in the world - has dominated the country’s political scene for four decades. President Bongo introduced a nominal multiparty system and a new constitution in the early 1990s. However, allegations of electoral fraud during local elections in 2002-03 and the presidential elections in 2005 have exposed the weaknesses of formal political structures in Gabon. Gabon’s political opposition remains weak, divided, and financially dependent on the current regime. Despite political conditions, a small population, abundant natural resources, and considerable foreign support have helped make Gabon one of the more prosperous and stable African countries.

MONETARY SYSTEM: 1 Franc = 100 Centimes


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Banque des États de l’Afrique Centrale, BEAC Gabon On 22 November 1972, the Banque des États de l’Afrique Centrale, BEAC was established to replace the French Equatorial Africa Bank; it included Gabon as one of its six members (the other five were, Cameroun, Chad, Central African Republic, Equatorial Guinea and the Republic of the Congo). New notes released into circulation starting 1974 with a common design to each of the countries members and a national unique design on the front, starting with 10,000 francs (Pick 1) featuring President Omer Bongo.

318

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OCTOBER 4, 2013 - LONDON

x346 Banque des Etats de l’Afrique Centrale, Republique Gabonaise, Banque Centrale, specimen 10,000 francs, ND (1971), zero serial numbers, green and multicoloured, President Bongo at right, tribal mask at left, mining scene at centre, reverse green and multicoloured, tractor at centre, tribal carvings at left and right. (Pick 1s), perforated SPECIMEN,

about uncirculated and a rare type Estimate £700-900

x347 Banque des Etats de l’Afrique Centrale, Republique Gabonaise, Banque Centrale, 500 Francs, 1 April 1978,No. W.4-12618, signature 9, lilac-brown and multicoloured, woman at left, reverse students in laboratory; 1,000 Francs, ND (197478),No. K5-01871, signature 4, blue and multicoloured, President Omer Bongo at right, reverse carvings and transport; 5000 Francs, ND (1974-78), No. F.4-20196, signature 9, brown and multicoloured, President O. Bongo at right, reverse carvings, mining and Mosque minaret. (Pick 2b, 3a, 4c), the first uncirculated, the second good fine, the third about uncirculated to uncirculated (3) Estimate £100-140

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x348 Banque des Etats de l’Afrique Centrale, Republique Gabonaise, Banque Centrale, 10,000 Francs, ND (1974),No. O.1-86944, signature 6, multicoloured, President Omer Bongo at right, mask at left, mine elevator at centre, reverse tractor at centre, carvings at right and left. (Pick 5a), PMG Certificate 53 About

Uncirculated and very scarce Estimate £300-400

x349 Banque des Etats de l’Afrique Centrale, Republique Gabonaise, Banque Centrale, 5,000 Francs, ND (1984), signature 9, brown, woman with fronds at right, reverse tractor; 10,000 Francs, ND (1984), signature 9, green and brown, woman at right, reverse loading bananas; 500 Francs, 1 January 1985, brown, red and yellow, carving and jug, reverse man carving masks; 1000 Francs (2), 1 January 1985 with incomplete map, 1 January 1990 with complete map, blue, both President Bongo at right, reverse elephant and carving. (Pick 6a, 7a, 8, 9, 10a), uncirculated (5) Estimate £140-180

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Gambia (The) The Republic of The Gambia, an independent member of the British Commonwealth, occupies a long strip of land encompassing both sides of West Africa’s Gambia River, and completely surrounded by Senegal. The republic, one of Africa’s smallest, has an area of 11,300 sq. km. and a population of 1.76 million. Capital: Banjul. Agriculture and tourism are the principal industries. Peanuts constitute 95 per cent of export earnings. The Gambia achieved independence on 18 February 1965, as a constitutional monarchy within the Commonwealth of Nations. Shortly thereafter, the national government held a referendum proposing that an elected president should replace the Gambian monarch (Queen Elizabeth II) as the head of state. This referendum failed to receive the two-thirds majority required to amend the constitution, but the results won widespread attention abroad as testimony to the Gambia’s observance of secret balloting, honest elections, civil rights, and liberties. On 24 April 1970, Gambia became a republic within the Commonwealth, following a second referendum. Prime Minister Sir Dawda Kairaba Jawara became the Head of State. Geographically surrounded by Senegal, it formed a short-lived federation of Senegambia between 1982 and 1989. In 1991 the two nations signed a friendship and cooperation treaty, but tensions have flared up intermittently since then. Yahya A. J. J. Jammeh led a military coup in 1994 that overthrew the president and banned political activity. A new constitution and presidential elections in 1996, followed by parliamentary balloting in 1997, completed a nominal return to civilian rule. Jammeh has been elected president in all subsequent elections, including most recently in late 2006.

RULERS: British to 1970

MONETARY SYSTEM: 1 Shilling = 12 Pence 1 Pound = 20 Shillings to 1970 1 Dalasi = 100 Bututs 1970- 


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

The Gambia Currency Board Gambia was part of the British territories subject to the (British) West Africa Currency Board. Internal self-government came to The Gambia in October 1963 and on the initiative of the West African Currency Board an order for notes was placed with Bradbury Wilkinson & Co. Ltd. For 10 shilling, £1 and £5 notes. On 1 October 1964 it established its own board, the Gambia Currency Board and the notes (Pick 1-3) were released into general circulation on 5 October 1964, only four days after the new currency ordinance came into effect. The pound was in circulation up to 1971. All notes had a sailing boat with a forest background on the obverse resemble to the West Africa Currency Board notes.

x350 The Gambia Currency Board, specimen 10/, red, specimen £1, green and specimen £5, blue, ND (1965), all signature 1, all no. 000000, sailing boat at left, value at right and at each corner, reverse scenes of local harvestfor the first note, loading sacks on quayside on the second, grinders on the third. (Pick 1s, 2s, 3s), perforated, uncirculated, scarce (3) Estimate £500-600 322

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OCTOBER 4, 2013 - LONDON

x351 The Gambia Currency Board, colour trial 10/-, blue, £1, orange brown, and £5, olive, all ND (1965), no serial numbers, sailing boat left centre, value at right and at each corner, reverse scenes of local harvest for the first note, loading sacks on quayside, grinders on the third. (Pick 1ct, 2ct, 3ct), perforated, red SPECIMEN overprint, mounting traces otherwise uncirculated and rare and attractive (3) Estimate £500-600

x352 The Gambia Currency Board, £1, ND (1965), serial number E 402912, red and multicoloured, sailing boat at left, value at right and at each corner, reverse red, loading sacks on quayside. (Pick 2), uncirculated, scarce Estimate £200-240

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Central Bank of The Gambia The Central Bank of The Gambia (CBG) was established in 1971 when it took over the assets of the then Gambia Currency Board. In 1971, the dalasi replaced the pound at a rate of 1 pound = 5 dalasi, i.e., 1 dalasi = 4 shillings. The notes of 1, 5, 10 and 25 Dalasi (Pick 4-7) were printed by Bradbury Wilkinson & Co. Ltd. similar in their design to previous issue, with accordance to rate value exchange denomination and with the portrait of President of the Republic of The Gambia, Kairaba instead of the water mark.

x353 Central Bank of the Gambia, 1 dalasi, violet, signature 7, No. Q013337, 5 dalasi, red, signature 4, No.F 419005, and 10 dalasi, green, signature 3, No. A 285406, all ND (1972-), all President Dawda K. Jawara at right. (Pick 4f, 5b, 6a), uncirculated (3) Estimate ÂŁ80-100

324

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OCTOBER 4, 2013 - LONDON

x354 Central Bank of the Gambia, 1 dalasi, violet, a group of five uniface progressive proofs for the obverse ND (1972), President Dawda K. Jawara at right. Printed date on bottom ‘3.3.71’. (Pick 4 for type), unusual and very rare (5) Estimate £300-350 www.spink.com

325


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x355 Central Bank of the Gambia, 5 dalasis, red, a group of five uniface progressive proofs for the obverse ND (1972), President Dawda K. Jawara at right. Printed date on bottom ‘27.10.72’. (Pick 5 for type), unusual and very rare (5) Estimate £300-350

326

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OCTOBER 4, 2013 - LONDON

x356 Central Bank of the Gambia, 10 dalasis, green, a group of five uniface progressive proofs for the obverse ND (1972), President Dawda K. Jawara at right. Printed date on bottom ‘10.9.73’. (Pick 6 for type), unusual and very rare (5) Estimate £300-350 www.spink.com

327


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x357 Central Bank of the Gambia, 25 dalasis, blue, a group of five uniface progressive proofs for the obverse ND (1972), President Dawda K. Jawara at right. Printed date on bottom ‘27.10.72’. (Pick 7 for type), unusual and very rare (5) Estimate £300-350 328

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OCTOBER 4, 2013 - LONDON

x358 Central Bank of Gambia, 1 dalasi, 1978 commemorative issue, violet, signature 5, No. K 115093, 5 dalasis, red, signature 10, No. AE 923738, 10 dalasis, green, signature 9, No. R 528057, and 25 dalasis (2), blue, signatures 8, No. B 603065 & G 169055, and 10, all President Jawara at right, all ND (ca 1987-1990). (Pick 8a, 9b, 10b, 11a, 11c), uncirculated (5) Estimate ÂŁ140-180

x359 Central Bank of Gambia, 5 dalasis, red, No. A6623024, 10 dalasis, green, No.A0355103, 25 dalasis, blue, No.A0837639 and 50 dalasis, violet, No. X526422, all ND (1991-1995), all signature 10, President Jawara at right, also 5,10,25 and 50 dalasis, ND (1996), all signature 12, local people at right on obverse, farming, buildings and satellite on reverse. (Pick 12a-15a, 16a-19a), uncirculated (8) Estimate ÂŁ60-80

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x360 Central Bank of Gambia, 5, 10, 25(2), 50, 100 dalasis, ND (2001), all local people and birds, also 5, 10, 25(2), 50 and 100 dalasis (2), ND (2006), local people and birds on obverse, farming, buildings, gates and satellite on reverse. (Pick 20a, 21a, 22a, 22b, 23a, 24c, 25, 26, 27, 28, 29), uncirculated (12) Estimate ÂŁ80-120

330

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German East Africa German East Africa (Tanganyika), located on the coast of east-central Africa between British East Africa (now Kenya) and Portuguese East Africa (now Mozambique) had an area of 362,284 sq. mi. (938,216 sq. km.) and a population of about 6 million. Capital: Dar es Salam. Chief products prior to German control were ivory and slaves; after German control, sisal, coffee and rubber. The East African coast first felt the impact of foreign influence in the eighth century, when Arab traders arrived. By the 12th century, traders and immigrants from the Near East and India had built highly developed city/ trading states along the coast. By 1506, Portugal claimed control along the entire coast, but made no attempt to establish a colony or to explore the interior. Germany acquired control of the area by treaties in 1884, and established it as a protectorate administered by the German East Africa Company. In 1891, the German government assumed direct administration of the area, which was proclaimed the Colony of German East Africa in 1897. German colonial domination of Tanganyika ended with World War I. Control of most of the territory passed to Great Britain, under a League of Nations mandate. British control was continued after World War II, under a United Nations trusteeship. Thereafter, Tanganyika moved gradually toward self-government. It became autonomous in May 1961. Full independence was achieved on Dec. 9 of the same year.

RULERS: German, 1884-1918 British, 1918-1961

MONETARY SYSTEM: 1 Rupie = 100 Heller


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Deutsch-Ostafrikanische Bank German East Africa (DOA) used in its territory the India rupee and Zanzibar ryal. In 1890 the DOA rupie was introduced after German East Africa Company acquired rights from the Imperial central government to mint coinage; it was equivalent to the Indian rupee. In 1903, due to economic difficulties in DOA, its rupie was set at a fixed exchange rate to the German gold marks. Additionally, on 15 January 1905 the Imperial central government established Deutsch-Ostafrikanische Bank (DOAB), German East Africa Bank, granting it the right to issue bank notes; six months later, on 23 June 1905, the DOAB started its operations in Dar es Salaam. The DOAB introduced notes of 5, 10, 50, 100 and 500 Rupien (Pick 1-5). Between 1915 and 1917, emergency notes were issued in denominations of 1, 5, 10, 20, 50 and 200 Rupien (Pick 6-49).

Deutsch Ostafrikanische Bank, Dar es Salam, 1905

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OCTOBER 4, 2013 - LONDON

x361 Deutsch-Ostafrikanische Bank, 5 rupien, Daressalam, 15 June 1905, red serial number 39569, blue, pink and green, lion and lioness low centre, value at centre and at each corner, printed signature low right, reverse blue and brown, bank title and value. (Pick 1, Rosenberg 900), ex Mel Steinberg. A pleasing fine and scarce Estimate ÂŁ80-120

x362 Deutsch-Ostafrikanische Bank, 10 rupien, Daressalam, 15 June 1905, red serial number 08412, black, pink and green, the port of Daressalam low centre, value at centre and at each corner, printed signature low right, reverse lilac and green, bank title and value. (Pick 1, Rosenberg 901), ex Mel Steinberg. A pleasing fine and scarce Estimate ÂŁ150-200

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x363 Deutsch-Ostafrikanische Bank, 50 rupien, Daressalam, 15 June 1905, red serial number 26598, black, pale orange-pink and blue, Kaiser Wilhelm II at left, value right centre and left and right, reverse pale pink and blue-green, bank title and value. (Pick 3b, Rosenberg 902d), ex Mel Steinberg. A pleasing very fine

and scarce especially in this grade Estimate ÂŁ500-600 334

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OCTOBER 4, 2013 - LONDON

x364 Deutsch-Ostafrikanische Bank, 50 rupien, Daressalam, 15 June 1905, red serial number 28052, black, pale orange-pink and blue, Kaiser Wilhelm II at left, value right centre and left and right, reverse pale pink and blue-green, bank title and value. (Pick 3b, Rosenberg 902d), A pleasing and original very fine and scarce especially in this grade Estimate ÂŁ550-600 www.spink.com

335


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x365 Deutsch-Ostafrikanische Bank, 100 rupien, Daressalam, 15 June 1905, red serial number 8466, black, pale lilac and green, Kaiser Wilhelm II at centre, value low left and right and at each corner, reverse pale lilac and green, bank title and value. (Pick 4, Rosenberg 903a), A pleasing fine and scarce Estimate ÂŁ450-550 336

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German South West Africa German South West Africa (Deutsch-Sudwestafrika) is a former German territory situated on the Atlantic coast of southern Africa. The colony had an area of 318,261 sq. mi. (824,293 sq. km.). Capital: Windhoek. The first Europeans to land on the shores of the area were 15th- century Portuguese navigators. The interior, however, was not explored until the middle of the 18th century. Great Britain annexed the Walvis Bay area in 1878; it was incorporated into the Cape of Good Hope in 1884. The rest of the coastal area was annexed by Germany in 1885. South African forces occupied German South West Africa during World War I. South Africa received it as a League of Nations mandate on Dec. 17, 1920. South Africa’s mandate was terminated by the United Nations on Oct. 27, 1966. In June 1968 the UN General Assembly voted to rename the country Namibia. South Africa found both actions unacceptable. After many years of dispute, independence of Namibia was finally achieved on March 21, 1990. German Reichsbanknoten and Reichskassenscheine circulated until 1914. RULERS: German to 1914

MONETARY SYSTEM: 1 Mark = 100 Pfennig


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Swakopmunder Buchhandlung The following group is notgeld (emergency money) issued by the book shop in the city of Swakopmund (German for “Mouth of the Swakop”) located on the coast of northwestern in present days Namibia.

x366 German Southwest Africa, 10 pfennig, ND (1916-1918), serial number 4932, black text ‘Zehn Pfg’ on green linen, two manuscript signatures below. (Pick 6b), ex Mel Steinberg. About

uncirculated and scarce Estimate £280-320

x367 German Southwest Africa, 2 mark, ND (1916-1918), serial number 48897, black text on pink card, pink ‘ZWEI MARK’ across facetwo manuscript signatures below. 15a), ex Mel Steinberg. Uncirculated and rare in this grade

(Pick

Estimate £400-500

x368 German Southwest Africa, 3 mark, ND (1916-1918), serial number 4932, black text ‘Drei Mark’ on green card, two manuscript signatures below. (Pick 6b), ex Mel Steinberg. Good very fine and scarce Estimate £350-400

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Ghana Formed from the merger of the British colony of the Gold Coast and the Togoland trust territory, Ghana in 1957 became the first sub-Saharan country in colonial Africa to gain its independence. Ghana endured a long series of coups before Lt. Jerry Rawlings took power in 1981 and banned political parties. After approving a new constitution and restoring multiparty politics in 1992, Rawlings won presidential elections in 1992 and 1996, but was constitutionally prevented from running for a third term in 2000. John Kufuor succeeded him and was re-elected in 2004. Kufuor is constitutionally barred from running for a third term in upcoming Presidential elections, which are scheduled for December 2008.

MONETARY SYSTEM: 1 Shilling = 12 Pence 1 Pound = 20 Shillings to 1965 1 Cedi = 100 Pesewas, 1965-


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Bank of Ghana 1961 D​r. Kwame Nkrumah por​t rait unadopted desi​g n As will presented in the following pages, Ghana’s first series included in all denominations obverse side the Bank of Ghana building at middle-right; notes were dated 1 July 1962. This wonderful group of essays is probably an earlier suggested design as it includes the date 1 July 1961 (a year earlier). Depicting Ghana President, Dr. Kwame Nkrumah, which eventually was on Ghana’s second series; this specific portrait was not in use until 1980 when Guinea honoured him on its 5 Syli note (Guinea Pick 22) and Ghana itself in 2010 commemorative 2 Cedis (Pick NL). The essays includes two colour types of obverse side of £1, first blue and second red (as the actual 1962 of £1); and obverse side and reverse side of £5, blue (as the actual 1962 of £5); the reverse design is quite similar in its artistic design to the reverse sides design of the actual notes. A 10/- essay is also known to exist, green (as the actual 1962 10/-).

Kuwame Nkrumah

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x369 Bank of Ghana, an obverse composite essay for a £1, blue and a £1, dark red, both 1 July 1961, serial number A/1000000, both Nkrumah at right, also a £5, blue, Nkrumah at left, arms at centre, also a reverse with a market scene. (Pick unrecorded), unique (4) Estimate £500-700

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

The Bank of Ghana On 4 March 1957, just two days before the declaration of political independence, the Bank of Ghana was formally established by the Bank of Ghana Ordinance (No. 34) of 1957, passed by the British Parliament. The principal objects of the new central bank, as enshrined in the 1957 Ordinance, were “to issue and redeem bank notes and coins: to keep and use reserves and to influence the credit situation with a view to maintaining monetary stability in Ghana and the external value of the Ghana pound; and to act as banker and financial adviser to the Government”. The bank issued its own currency in the form of Ghana pounds, shillings and pence on 14 July 1958, replacing the notes of the West African Currency Board; the series included 10 shillings, 1 and 5 pound in addition to 1,000 pounds intended for inter-bank use (Pick 1-4). In early 1965, Ghana decided to leave the British colonial monetary system and adopt the widely accepted decimal system. Accordingly, the monetary system was changed and Cedi notes (Pick 5-9A) and Pesewa coins were introduced on the 19 July 1965; exchange was made at the rate of 1 cedi to 8 shillings and four pence (8s 4d). Notes included the portrait of the then President, Dr. Kwame Nkrumah. The name “cedi” was derived from the word “sedie” meaning cowrie, a shell money which gained popularity and wider circulation in the later part of the 19th Century. The “Pesewa” represented the smallest denomination (quantity) of the gold-dust currency regime.

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x370 Bank of Ghana, a small group comprising, 10 Shillings, 1 July 1963,No. Z/1 762650, green, brown and multicoloured, bank building at right, reverse star with the name Bank of Ghana; £1 (2), 1 July 1962, No. S/5-614031 & S/5-614556, both red, blue and multicoloured, bank building at centre, reverse cocoa pods on a nice full panorama image ; £5, 1 July 1962, No. A/1-858012, and specimen £5, Accra 1 July 1958,No.A/1-000000, overprinted SPECIMEN and with De La Rue ovals in red on obverse and reverse, both purple, red and multicoloured, bank building at centre, reverse cargo ships and logs. (Pick 1d, 2d (2), 3d, 3s1), uncirculated

(5) Estimate £450-550

x371 Bank of Ghana, £1,000, 1 July 1958, serial number A/1-000252, black on white, bank building at lower right, value at lower left reverse value and stylised pattern. (Pick 4), usual damp spotting, otherwise about uncirculated and scarce, ex Laurence Pope Collection Estimate £120-160

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x372 Bank of Ghana, specimen £1,000, 1 July 1958, serial number A/1 000000, black on white, bank building at lower right, value at lower left reverse value and stylised pattern, overprinted SPECIMEN in red with two De La Rue Specimen ovals on obverse and reverse. (Pick 4s), about uncirculated and very scarce Estimate £250-300

x373 Bank of Ghana, a set of the ND (1965) Issue, all with Nkrumah at upper right or left on obverse, comprising 1 Cedi, blue and multicoloured, reverse bank building; 5 Cedis, brown and multicoloured, reverse Parliament House; 10 Cedis, green and multicoloured, reverse Independence Arch; 50 Cedis, red and multicoloured, reverse island and palms; 100 Cedis, purple and multicoloured, reverse hospital. (Pick 5a, 6a, 7a, 8a, 9a), about

uncirculated to uncirculated (5) Estimate £140-180

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x374 Bank of Ghana, a group comprising, 1 Cedi, 23 February 1967, blue and multicoloured, cacao branch at right, reverse shield and sword: 5 Cedis, 8 January 1969, brown and multicoloured, carved bird at right, reverse animal carvings; 10 Cedis, 8 January 1969, red and multicoloured, artifacts at right, reverse statuettes; 1 Cedi, 2 January 1975, blue and multicoloured, boy at right, reverse cutting cacao pods; 2 Cedis, 2 January 1967, green and multicoloured, man with hoe at right, reverse field workers; 5 Cedis, 4 July 1977, brown and multicoloured, woman wearing hat at right, reverse huts; 10 Cedis, 2 January 1978, red and multicoloured, man smoking pipe at right, reverse dam. (Pick 10a, 11b, 12b, 13c, 14c, 15b, 16f), uncirculated (7) Estimate ÂŁ50-70

x375 Bank of Ghana, a group comprising, specimen 1 Cedi (6), 2. January 1973, prefix A/1, signature Ansah, 2.January 1973, prefix J/1, signature Nikoi, 2 January 1975, prefix M/1, 2. January 1976, prefix X/1, 2 January 1978, prefix L/3, 4 July 1978 (unlisted date in Pick), prefix P/3, all blue and multicoloured, young boy with slingshot at right, reverse man cutting cacao, all overprinted SPECIMEN in red with two De La Rue Specimen ovals on obverse and reverse, one punch hole. [Pick 13as (2), 13bs, 13cs, 13ds, 13 PNL)], glue traces at right on reverse, the

1 Cedi otherwise about uncirculated, the remainder uncirculated and an interesting group (6) Estimate ÂŁ150-200 www.spink.com

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x376 Bank of Ghana, a group comprising, specimen 5 Cedis, 2 January 1973, prefix A/1, signature Ansah, 2 January 1973, prefix B/1, signature Nikoi, 2. January 1975, prefix B/1, 2 January 1976 (2), prefixes E/1 and F/1, 2 January 1977 (2), prefixes N/1 and Z/1, 2 January 1978, prefix B/2, all brown and multicoloured, woman wearing hat at right, reverse huts, all overprinted SPECIMEN in red with two De La Rue Specimen ovals on obverse and reverse, one punch hole. [Pick 15as (4), 15bs (4)], glue traces at right on reverse, otherwise about uncirculated to uncirculated and a fascinating group for the specialist (8) Estimate ÂŁ280-350

x377 Bank of Ghana, a group comprising, specimen 10 Cedis (7), 2 January 1973, prefixes A/1, B/1, 2 January 1975, prefix D/1, 2 January 1976, prefix F/1. 2 January 1977, prefix G/1, 2 January 1978, prefixes C/2, S/1, all red and multicoloured, man smoking pipe at right, reverse dam, all overprinted SPECIMEN in red with two De La Rue Red seal Specimen ovals on obverse and reverse, one punch hole. [Pick 16as, 16bs, 16cs, 16ds, 16es(2), 16fs], glue stains at right on reverse,

otherwise about uncirculated and a fascinating group for the specialist (7) Estimate ÂŁ280-340

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x378 Bank of Ghana, a group comprising, specimen 1 Cedi, 6 March 1982, prefix BA, green, young man at right, reverse man basket making, Specimen 2 Cedis (2), 6 March 1982, prefixes AT, AV, blue, school girl at right, reverse field workers, and Specimen 5 Cedis (2), 6. 3. 1982, prefixes AQ, AT, old man at right, reverse logging, all overprinted SPECIMEN in red with two De La Rue Specimen ovals on obverse and reverse, one punch hole. [Pick 17bs, 18ds (2), 19cs (2)], minor glue traces at right on reverse, otherwise about uncirculated to uncirculated (5) Estimate ÂŁ200-260

x379 Bank of Ghana, a group comprising, 1 Cedi, 7 February 1979, No. AS 1536675, green and multicoloured, boy at right, reverse man weaving; 2 Cedis, 2 January 1980,No. AK 8352670, blue-black and multicoloured, schoolgirl at right, reverse crop tending; 5 Cedis, 6 January 1982, No. AY 0612833,red and multicoloured, old man at right, reverse logging; 10 Cedis (2), 2 January 1980,No. AP5652253, and 2 July 1980No. AX4500608; specimen 10 Cedis (3), 6 March 1982, serial prefixes BJ, BN, BQ, overprinted SPECIMEN in red with two De La Rue Specimen Red ovalsSeals, on obverse and reverse, one punch hole, all purple and multicoloured, woman at right, reverse fishermen. [Pick 17a, 18b, 19c, 20b, 20c, 20s (3)],

about uncirculated to uncirculated (8) Estimate ÂŁ180-220

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x380 Bank of Ghana, specimen 20 Cedis (4), 6 March 1982, prefixes AK, AM, AV, BE, green and multicoloured, miner at right, reverse man weaving, all overprinted SPECIMEN in red with two De La Rue Specimen red oval seal on obverse and reverse, one punch hole. [Pick 21cs (4)], minor glue traces at right on reverse, otherwise about uncirculated to uncirculated (4) Estimate ÂŁ200-250

x381 Bank of Ghana, a group of later issues comprising, 20 Cedis, 2 July 1980,No. AJ 5203482, green, miner at right, reverse man weaving; 50 Cedis, 2 July 1980, No. AC3445543, brown old man at right, reverse splitting cacao pods; 10 Cedis, 15 May 1984, No. C/1 4610754, purple, three leaders at left, reverse rural bankning; 20 Cedis, 15 July 1986,No. D/1 5832711, green, Queen Mother at left, reverse Olive Green colour, workers procession; 50 Cedis, 15 July 1986,No. Q/1 6042479 ,brown, boy in hat at left, reverse drying grain; 100 Cedis, 15 July 1986,No. T/1 1085289, blueand violet, woman at left, reverse loading sacks; 200 Cedis, 19 September 1991,No. G/2 2838183, yellow and orange, old man at left, reverse classroomin Green and Brown; 500 Cedis, 14 October 1992, No. T/1 4980307,purple, arms at right,Star with wording: Work and Industry, reverse cacao pods at centre, miner at right, multicolour.. (Pick 21b, 22b, 23a, 24a, 25, 26a, 27b, 28c), uncirculated (8) Estimate ÂŁ30-40

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x382 Bank of Ghana, a set of the specimen 1983-91 Issue, all dated 15 May 1984, comprising 10 Cedis, prefix A/1, purple, three men at left, reverse bank scene, 20 Cedis, prefix A/1, green, Asantewa at left, reverse workers, 50 Cedis, prefix C/1, brown, boy at left, reverse grain drying, 100 Cedis, prefix B/1, purple, woman at left, reverse loading produce; 200 Cedis, prefix B/1, orange-brown, old man at left, reverse classroom, all overprinted SPECIMEN in red with two De La Rue Specimen ovals Red Seals on obverse and reverse, one punch hole. (Pick 23as, 24s, 25s, 26as, 27as), minor glue traces at right on reverse, otherwise uncirculated and an attractive matched set (5) Estimate ÂŁ220-250

x383 Bank of Ghana, a group comprising, specimen 20 Cedis, 15 July 1986, prefix D/1, green, Asantewa at left, reverse workers, and 50 Cedis (2), 1. April 1983, prefixes A/1, B/1, 15. 7. 1986 (2), prefixes G/1, M/1, brown, boy at left, reverse grain drying, all overprinted SPECIMEN in red with two De La Rue specimen red seal ovals on obverse and reverse, one punch hole. [Pick 24s, 25s (4)], glue stains at right on reverse, otherwise about uncirculated to uncirculated (5) Estimate ÂŁ180-220

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x384 Bank of Ghana, specimen 100 Cedis (2), 1 April 1983, prefixes A/1, B/1, 15. 7. 1986 (2), prefixes J/1, P/1, 19. 7. 1990, prefix U/1, all purple and multicoloured, woman at left, reverse loading produce, all overprinted SPECIMEN in red with two De La Rue Specimen and red seals ovals on front and back, one punch hole. [Pick 26as (4), 26bs], glue traces at

right on reverse, otherwise about uncirculated to uncirculated (5) Estimate ÂŁ200-220

x385 Bank of Ghana, a group comprising, specimen 200 Cedis (2), 1 April 1983, prefixes A/1, B/1, 15. 7. 1986 (2), prefixes E/1, K/1, 20. 4. 1989 (2), prefixes N/1, W/1, 19. 7. 1990 (2), prefixes B/2, D/2, 19. 9. 1991, prefix G/2, 14. 10. 1992, prefix L/2, 10. 8. 1993, prefix Q/2, all orange-brown, old man at left, reverse classroom in orange and green colour, all overprinted SPECIMEN in red with two De La Rue Specimen ovals red seal on obverse and reverse, one punch hole. [Pick 27as (4), 27bs (7)], glue traces at right on reverse, 7 copies ink annotations in top margin, otherwise about uncirculated to uncirculated and an interesting group for the specialist (11) Estimate ÂŁ400-600

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x386 Bank of Ghana, a group comprising, specimen 500 Cedis (3), 31 December 1986, prefix C/1, 20 April 1989 prefix H/1, 19 September 1991, prefix N/1, purple and blue-green, arms at right,Star with wording: Work and Industry, reverse cacao treesand miner at right,specimen 500 Cedis (6), 31 December 1986, prefix A/1, 20 April 1989 prefix F/1, 19 July 1990, prefix J/1, 14 October 1992, prefix S/1, 10 August 1993, prefix W/1, 10 June 1994, prefix A/2, all purple and bluegreen, arms at right, reverse cacao trees, all overprinted SPECIMEN in red with two De La Rue Specimen ovals on obverse and reverse, one punch hole. [Pick

28as(2), 28bs(3), 28cs(4)], glue traces at right on reverse, ink annotations in top margin, otherwise about uncirculated to uncirculated (9) Estimate ÂŁ400-450

x387 Bank of Ghana, specimen 1000 Cedis (4), 22 July 1993, prefix 1/A, 10 June 1994 prefix 7/A, 6 January 1995 prefix 11/A , 23 February 1996, prefix 16/A, all brown blue and green , diamonds at right, reverse harvesting cocoa pods, overprinted SPECIMEN in red with two De La Rue Specimen ovals red seal on obverse and reverse. [Pick 29bs (4)], ink annotations in top margin, glue stains at right on reverse, otherwise about uncirculated to uncirculated and another fascinating group for the specialist (4) Estimate ÂŁ200-250

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x388 Bank of Ghana, a group comprising, Specimen 2000 Cedis (2), 15 June. 1994, prefix A/1, 23 February 1996 prefix Q/1, brown and green and specimen 2000 Cedis (2), 6 January 1995, prefixes C/1, F/1, red-brown and green, suspension bridge at right, specimen 5000 Cedis (2), 23. 2. 1996, prefixes E/1, J/1,suspension bridge at right, reverse fishermen and boat, SPECIMEN in red with two De La Rue Specimen ovals red seal on obverse and reverse, one punch hole at lower centre. (Pick 30as, 30cs), ink annotations

in top margin, glue stains at right on reverse, otherwise about uncirculated to uncirculated (4) Estimate ÂŁ300-350

x389 Bank of Ghana, a group comprising, Specimen 5000 Cedis(4), 29 June 1994, prefix A/1, 8 January 1995, prefix C/1, 23. 2. 1996, prefixes E/1, J/1, green and orange, arms at right, reverse freighter and logs, all overprinted SPECIMEN in red with two De La Rue Specimen ovals Red seal on obverse and reverse, one punch hole at lower centre. (Pick 31as, 31bs, 31cs (2),), ink

annotations in top margin, glue stains at right on reverse, otherwise about uncirculated to uncirculated (4) Estimate ÂŁ300-350

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x390 Bank of Ghana, a group comprising, 1000 Cedis (3), 6 January 1995,No 11/A05586755, 1 July 1999,No. AN2339162, 2 September 2002, No. MF 9137708,green and multicoloured, diamonds at right Arms at lower left, reverse harvesting cacao; 2000 Cedis (2), 8 January 1995,No. C/1 6895926 and 5 December 1996,No. AA 0013913, red-brown, green and multicoloured, bridge at right, Arms at lower left, reverse fishing; 5000 Cedis (3), 23 February 1996,No. G/1 0680698, 2 May 1998, No. AM 4906808, 4 August 2006,No. EC 1140188, green and multicoloured, arms at upper right, reverse ship and logs;10,000 Cedis, 2 September 2002,No. DC 4898986, purple and multicoloured, Kwame Nkrumah and other five leaders at right (Ebenezer Ako Adjei, Edward Akufo-Addo, Joseph Boaky Danquah, Emmanuel Odarkwei Obetsebi-Lamtey and William Ofori Atta), reverse Independence Arch; and 20,000 Cedis, 2 September 2002,No. EB 4767140, red and multicoloured,The Ghanaian composer, musicologist and teacher Ephraim Amu at right, reverse theatre. (Pick 29b, 30b, 31c, 32d, 32h, 33a, 34c, 34j, 35a, 36a), uncirculated (10) Estimate ÂŁ50-60

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x391 Bank of Ghana, a group of the 200710 Issues all with Kwame Nkrumah and five other leaders at right (Ebenezer Ako Adjei, Edward Akufo-Addo, Joseph Boaky Danquah, Emmanuel Odarkwei Obetsebi-Lamtey and William Ofori Atta)on obverse comprising 1 Cedi(2),No. AX 323737 & No. BN 7893059, red, reverse dam; 5 Cedis, blue, reverse buildings; 10 Cedis, green, reverse bank building; 20 Cedis, violet, reverse government building; 50 Cedis, brown, reverse buildings, and 2 Cedis, Commemorative issue (Century Of Birth Of Nkruma) 2010,No. AF 4269765, yellow Dr. Kwame Nkrumah on the right, reverse parliament buildings. (Pick 37a(2), 38a, 39a, 40a, 41a, PNL),

uncirculated (7) Estimate ÂŁ30-40

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The Gold Coast The British Gold Coast was formed in 1867 when the British government abolished the African Company of Merchants and seized privately held lands along the coast. They also took over the remaining interests of other European countries, annexing the Danish Gold Coast in 1850 and the Dutch Gold Coast, including Fort Elmina, in 1872. Britain steadily expanded its colony through the invasion of local kingdoms as well, particularly the Ashanti and Fante confederacies. From 1895–1896 the British and Ashanti fought in the Fourth and final Ashanti War, where the Ashanti fought for and lost their independence. In 1900 the Ashanti Uprising took place, resulting in the British capture of the city of Kumasi. At the end of this last Ashanti War, the Ashanti people became a British protectorate on 1 January 1902. By 1945, the native population was demanding more autonomy in the wake of the end of the Second World War and the beginnings of the decolonisation process across the world. By 1956, British Togoland, the Ashanti protectorate, and the Fante protectorate were merged with the Gold Coast to create one colony, which became known as the Gold Coast, formally titled Position of Gold Coast. In 1957 the British colony of the Gold Coast and the Togoland trust territory merged and gained independence becoming what known today as Ghana.

MONETARY SYSTEM: 1 ackey = 8 takoe 1796 to1818 1 pound = 8 ackey 1818 1 Shilling = 12 Pence 1 Pound = 20 Shillings 1818 to 1957


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

The Bank of The Gold Coast As soon as local politicians and economists saw political independence in sight in the mid 1950’s the agitation for a central bank was revived. It was argued that a central bank was one institution which would give true meaning to political independence. It may be recalled that way back in 1947 some leading politicians had called for the establishment of a national bank with central bank functions to act as banker to government and to cater for the indigenous sector of the economy. Proposals of the advocates for a central bank were accepted and in early 1955 another Select Committee was set up by the Government to prepare the grounds for the establishment of a central bank in The Gold Coast. Later on that year, the Bank of The Gold Coast (BGC) was established. Due to the political changes and merger with other territories toward the independence, BGC did not have the chance to act as central bank and on 4 March 1957, just two days before the declaration of political independence, the Bank of Ghana was formally established by the Bank of Ghana Ordinance (No. 34), assuming all responsibilities as a central bank. The Governor of the Bank and his Deputy were appointed by the Governor of The Gold Coast on the recommendation of the Prime Minister, in accordance with the 1955 Ordinance. The Governor and his Deputy were each appointed for a term of five years and were eligible for reappointment. Those two officials were answerable to the Board for their acts and decisions in the course of general administration of the affairs of the bank. The Board itself was also answerable to the Ministry of Finance for efficient management of the Bank. The other directors of the Board were also appointed by the Prime Minister with the approval of the Governor of the Gold Coast for a term of three years, subject to renewal. This complicated chain of appointments and responsibilities was given expression in the signatures design at the banknotes.

The banknotes The Gold Coast used the pound as its monetary unit since 1818, first using British currency and since 1916 the (British) West African Currency Board notes and coins. For a very short period, between 1796 and 1818, under the “Free Trade to Africa by Act of Parliament 1750”, the Gold Coast had its own currency, the ackey, coins form only (subdivided into 8 takoe and was equal to the British halfcrown; 1 takoe = 3¾ pence; 1 pound = 8 ackey).

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Financial documents relating to the establishment of the Bank of the Gold Coast indicates that new currency and decimal coins were considered between 1954 and 1955. The magnificent group of essays presented here is a clear evidence that the preparations towards the presentation of Gold Coast pound were in a most advanced stage; not only that the design of notes as well as denominations were almost completed but even the legal status as the ‘Legal Tender’ inscription on each of the notes read. Each note was to be signed by five: For the Bank of The Gold Coast; for the Government of The Gold Coast; Chairman; Minister of Finance; Managing Director. The series composed of 5 and 10 shilling notes, £1 and £5 and the incredible denomination of £100 (2,000 shillings) which probably was intended for interbank use. It is unknown in present time whether other denominations were considered as the West Africa Currency Board with the Bank of The Gold Coast had only issued notes up to £5. All notes depicting the portrait of Queen Elizabeth II on their obverse side, while the reverse designs are including various landscapes scenes of the territory.

Queen Elizabeth II

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x392 Bank of the Gold Coast, a composite obverse and reverse essay for a 5/-, ND (30 April 1953), serial number 123456, red-brown and lilac, young Queen Elizabeth II at left, palm tree low centre, value at centre, top left and right, reverse red-brown and pale green, logging scene. (Pick unrecorded Bank), unique, lovely Estimate ÂŁ4,500-5,000

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x393 Bank of the Gold Coast, a composite obverse and reverse for a 10/-, ND (30 April 1953), serial number 123456, green and multicoloured, Elizabeth II at right, palm trees at centre, reverse green, plantation. (Pick unrecorded Bank), unique, lovely Estimate ÂŁ4,500-5,000

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x394 Bank of the Gold Coast, for a 1, ND (30 April 1953), serial number 123456, red and multicoloured, Elizabeth II at right, palm trees at centre, reverse red, harvesting. (Pick unrecorded Bank), unique and very striking Estimate ÂŁ4,800-5,200

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x395 Bank of the Gold Coast, an obverse and reverse composite essay for a ÂŁ5, ND (1953), serial number 123456, blue and multicoloured, Elizabeth II at right, palm tree at centre, value at centre and top left and right, reverse blue and white, mining scene, value at left and right. (Pick unrecorded Bank), unique and absolutely lovely (2) Estimate ÂŁ6,500-7,000

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THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x396 Bank of the Gold Coast, a uniface obverse and reverse composite essay on board for a ÂŁ100, ND (1953), serial number 123456, violet and multicoloured, Elizabeth II at right, palm trees at low centre (British West Africa), value at centre and at each corner, reverse violet, river and jungle, value top left and low centre. (Pick unrecorded Bank), unique and a really lovely item (2) Estimate ÂŁ8,500-9,000

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Guinea The Republic of Guinea (formerly French Guinea), situated on the Atlantic coast of Africa between Sierra Leone and Guinea-Bissau, has an area of 245,857 sq. km. and a population of 9.8 million. Capital: Conakry. Although Guinea contains one-third of the world’s reserves of bauxite and significant deposits of iron ore, gold and diamonds, the economy is still dependent on agriculture. Aluminum, bananas, copra and coffee are exported. Guinea has had only two presidents since gaining its independence from France in 1958. Lansana Conte came to power in 1984 when the military seized the government after the death of the first president, Sekou Toure. Guinea did not hold democratic elections until 1993 when Gen. Conte (head of the military government) was elected president of the civilian government. He was re-elected in 1998 and again in 2003, though all the polls have been marred by irregularities. Guinea has maintained its internal stability despite spillover effects from conflict in Sierra Leone and Liberia. As those countries have rebuilt, Guinea’s own vulnerability to political and economic crisis has increased. Declining economic conditions and popular dissatisfaction with corruption and bad governance prompted two massive strikes in 2006; a third nationwide strike in early 2007 sparked violent protests in many Guinean cities and prompted two weeks of martial law. To appease the unions and end the unrest, Conte named a new prime minister in March 2007.

MONETARY SYSTEM: 1 Franc = 100 Centimes to 1971 1 Syli = 10 Francs, 1971-1980 Franc System, 1985- 


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x397 Banque de la Republique de Guinee, a group of the 2 October 1958 Issue, all with President Ahmed Sekou Toure at left, comprising 50 Francs,No. E45-028055, brown, reverse mask; 100 Francs (2),C49-433503 & C58292665 lilac, reverse womancarrying a child on her back and village; 1,000 Francs, No. F20-175666, blue, man at right, boats at leftbanana and coco nut trees around; 5,000 Francs green with banana plantation; A13-017405; 10,000 Francs brown with mining B13-003055. [Pick 6, 7(2), 9, 10, 11], uncirculated,

pressed, otherwise extremely fine, good very fine (6) Estimate ÂŁ400-450

x398 Banque Centrale de la Republique du Guinee, a group of specimens of the 1 March 1960 Issue, all with President Ahmed Sekou Toure at left, comprising 50 Francs, brown, reverse mine; 100 Francs, dark brown, reverse pineapple harvesting; 500 Francs, blue, men hauling boats; 1,000 Francs green, banana harvesting, all overprinted SPECIMEN in red with two De La Rue Specimen ovals Red seal on obverse and reverse. (Pick 12s, 13s, 14s, 15s), slight mounting traces otherwise uncirculated (4) Estimate ÂŁ200-250

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OCTOBER 4, 2013 - LONDON

x399 Banque Centrale de la Republique du Guinee, a group comprising, specimen 500 Francs (3), 1 March 1960, prefixes A, C, H, all blue and multicoloured, President Sekou Toure at left, reverse men hauling boats; specimen 1,000 Francs, prefix F, green and multicoloured, President Sekou Toure at left, reverse banana harvesting, all overprinted SPECIMEN in red with two De La Rue Specimen ovals red seal on obverse and reverse; also issued 1,000 Francs, 1 March 1960, No. J836948. [Pick 14s (3), 15s, 15a), slight mounting

traces on specimens, otherwise uncirculated, P15a very fine (5) Estimate ÂŁ240-280

x400 Banque Centrale de la Republique du Guinee, specimen 5,000 Francs, 1 March 1960, serial number A000000, purple and multicoloured, President Sekou Toure at left, reverse woman in headdress and huts (an amazing art work), overprinted SPECIMEN in red with two De La Rue Specimen ovals red seal on obverse and reverse. (Pick 15A), very scarce uncirculated Estimate ÂŁ350-400

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365


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Lot No. x401

366

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OCTOBER 4, 2013 - LONDON

x401 Banque Centrale de la Republique du Guinee, a group of the 1971 Issue comprising 10Sylis, Lumumba No. II 972839, 25Sylis, King Behanzin of Dahomy, No. BZ 955111 , 50Sylis, King Alfa Yaya Maudo of Labé, No. AQ 357774, 100 (2) Sylis L’Almamy Samry Toure’ of the Wassoulou Empire, No.AF 545120 & AG 055247; a group of the 1980 and 1981 Issues comprising 1Syli, Hadja Mafory Bangoura, No. BE 843458, 2Sylis (2) King Mohammed V of Morocco, No. BD 696938 & No.CH 116685, 5Sylis, Nkruma, No. FH 201685 , 10Sylis, Lumumba, No. FD 959350, 25 Sylis,King Behanzin, No. GB 675753 , 50Sylis (2) King Alpha Diallo, No. CA 449123 & DT 359187, 100Sylis,L’Almamy Samry Toure’ No. BD 674006, 500 (2) Sylis, President Josip Broz Tito of Yugoslavia, No. AI 803209 & AM 456885. This series is most unusual even in world wide standards as it is dedicate entirely to greatest group of people regardless to their origin of nationality; indeed we are familiar with notes in South America depicting George Washington, but this is only a single note and not a whole series. Most of it is dedicate to great leaders and persons of Africa but it is also depicting non African. The series was first introduced in 1971 with denominations of 10, 25, 50 and 100 Sylis (Pick 16-19); in 1981 it was reissued in new different coloures (Pick 23-26) including a new denominations of 1, 2 and 5 Sylis (Pick 20-22) and 500 Sylis (Pick 27) which depicted Yugoslavian President, Marshal Josip Broz Tito, the only non-African on the series. Depcting on the notes are the followings: • 10 Sylis: Patrice Émery Lumumba (1925-1961), Congolese independence leader and the first democratically elected Prime Minister of the Republic of the Congo. • 25 Sylis: King Behanzin of Dahomy (1844-1906) last independent ruler, led the national resistance during the Dahomey War (1892-4). • 50 Sylis; King Alfa Yaya Maudo (mid-19th century-1912), a 19th-century ruler of Labé, one of the nine provinces of the Imamate of Futa Jallon, in present-day Guinea. • 100 Sylis: L’Almamy Samry Toure’ (1830-1900) founder of the Wassoulou Empire, in present-day Gabon. • 1 Syli: Hadja Mafory Bangoura (1944-2010), a leading activist on women’s issues in Guinea. • 2 Sylis: King Mohammed V of Morocco (1909-1961), first king of independent Morocco • 5 Sylis, Kwame Nkrumah (1909–1972), the first President of Ghana and the first Prime Minister of Ghana, saw himself as an African Lenin. • 500 Sylis: Marshal Josip Broz Tito (1892-1980), founder of Socialist Federal Republic of Yugoslavia and its first President. According to Pick catalogue the note was purported to commemorate Tito’s visit to Guinea though no support was found to this theory. Author believes that it was actually issued in his honour after his death on 4 May 1980. [Pick 16, 17,18, 19 (2), 20a, 21a(2), 22a, 23a, 24a, 25a, 26a,27a (2)], all uncirculated except

one copy of P19 and P24, fine, a useful lot (15) Estimate £50-60

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367


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Lot No. x402

368

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OCTOBER 4, 2013 - LONDON

x402 Banque Centrale de la Republique du Guinee, a group of the 1985 Franc Issue comprising 25, 50, 100, 500, 1000, 5000 Francs; a group of the 1998 Issue comprising 100, 500, 1,000, 5,000 Francs; a group of the 2006-7 Issue comprising 500, 1,000, 5,000, 10,000 (2) Francs. [Pick 28a, 29a, 30a, 31a, 32a, 33a(2), 35a, 36, 37, 38, 39a, 40, 41, 42a(2)], all uncirculated (16) Estimate ÂŁ50-60 www.spink.com

369


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x403 Banque Centrale de la Republique du Guinee, 25 Francs, blue-red, a group of three uniface progressive proofs for the reverse, 1985, girl by huts at center right. (Pick 28 for type), unusual and very rare (3) Estimate ÂŁ60-120

370

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OCTOBER 4, 2013 - LONDON

x404 Banque Centrale de la Republique du Guinee, 50 Francs, red-violet multicoloured, an incredible group of 7 uniface progressive proofs for the reverse, representing different stages of printing until final design, 1985, ploughing with water buffalo at center right. (Pick 29 for type), unusual and very rare (7) Estimate ÂŁ120-150 www.spink.com

371


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x405 Banque Centrale de la Republique du Guinee, 100 Francs, purple multicoloured, an incredible group of 8 uniface progressive proofs for the reverse, representing different stages of printing until final design, 1985, bananas harvesting. (Pick 30 for type), unusual and very rare (8) Estimate ÂŁ120-150 372

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OCTOBER 4, 2013 - LONDON

x406 Banque Centrale de la Republique du Guinee, 500 Francs, green multicoloured, an incredible group of 7 uniface progressive proofs for the reverse, representing different stages of printing until final design, 1985, minehaed at centre. (Pick 31 for type), unusual and very rare (7) Estimate ÂŁ120-150 www.spink.com

373


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x407 Banque Centrale de la Republique du Guinee, 1,000 Francs, brown multicoloured, an incredible group of 7 uniface progressive proofs for the reverse, representing different stages of printing until final design, 1985, shovel loading ore into open end dump trucks. (Pick 32 for type), unusual and very rare (7) Estimate ÂŁ120-150 374

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OCTOBER 4, 2013 - LONDON

x408 Banque Centrale de la Republique du Guinee, 5,000 Francs, blue, brown, multicoloured, an incredible group of 7 uniface progressive proofs for the reverse, representing different stages of printing until final design, 1985, dam at centre. (Pick 33 for type), unusual and very rare (7) Estimate ÂŁ120-150 www.spink.com

375


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x409 Banque Centrale de la Republique du Guinee, a group of specimens of the 1985 Issue comprising 500 Francs, prefix AB, green and multicoloured, woman at left, reverse conveyor belt; 1,000 Francs, prefix AH, brown and multicoloured, girl at left, reverse dumper trucks; 5,000 Francs (2), prefixes AD, AF, blue, brown and multicoloured, woman at left, reverse dam, all overprinted SPECIMEN in red with two De La Rue Specimen ovals Red seal on obverse and reverse. [Pick 31s, 32s, 33s (2)], glue traces, ink annotations on 1,000

Francs, otherwise about uncirculated to uncirculated (4) Estimate ÂŁ110-140

376

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Guinea-Bissau The Republic of Guinea-Bissau, a former Portuguese overseas province on the west coast of Africa between Senegal and Guinea, has an area of 36,120 sq. km. and a population of 1.5 million. Capital: Bissau. The country has undeveloped deposits of oil and bauxite. Peanuts, oil- palm kernels and hides are exported. Since independence from Portugal in 1974, Guinea-Bissau has experienced considerable political and military upheaval. In 1980, a military coup established authoritarian dictator Joao Bernardo ‘Nino’ Vieira as president. Despite setting a path to a market economy and multiparty system, Vieira’s regime was characterized by the suppression of political opposition and the purging of political rivals. Several coup attempts through the 1980s and early 1990s failed to unseat him. In 1994 Vieira was elected president in the country’s first free elections. A military mutiny and resulting civil war in 1998 eventually led to Vieira’s ousting in May 1999. In February 2000, a transitional government turned over power to opposition leader Kumba Yala, after he was elected president in transparent polling. In September 2003, after only three years in office, Yala was ousted by the military in a bloodless coup, and businessman Henrique Rosa was sworn in as interim president. In 2005, former President Vieira was re-elected president pledging to pursue economic development and national reconciliation.

RULERS: Portuguese until 1974

MONETARY SYSTEM: 1 Peso = 100 Centavos, 1975-1997 1 Franc = 65 Pesos, 1997- 


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

The peso was the currency of Guinea-Bissau from 1975 to 1997 and was divided into 100 centavos. It replaced the escudo at par. In 1997, Guinea-Bissau adopted the CFA franc of the West African States, using a conversion rate of 65 pesos to the franc.

Banco Nacional da Guiné-Bissau and Banco Central da Guiné-Bissau Banco Nacional da Guiné-Bissau was formally granted its position on 24 September 1974. In 1976, a new currency was introduced, peso, replacing Banco Nacional Ultramarino escudo at par. Although issued in 1976, the date on the new bank notes is 24 September 1975, this being the second anniversary of GuineaBissau’s declaration of independence. The bank notes introduced consisted of the denominations 50, 100 and 500 pesos (Pick 1-3), dominated by a portrait of a hero and martyr of the independence movement. During 1978-1984 a second series was introduced, including denominations of 1,000 and 5,000 pesos (Pick 5-9). The Banco Central da Guiné-Bissau was founded in 1989 replacing the National Bank, introducing its first series in 1190 (Pick 10-15) which was the last before Guinea-Bissau joined l’Union Monetaire Ouest-Africaine, West Africa Monetary Union with CFA franc became legal tender on 2 May 1997, at the exchange rate of one CFA franc to 65 Guinean pesos.

Amilcar Cabral

378

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OCTOBER 4, 2013 - LONDON

x410 Banco Nacional da Guine-Bissau, 50 Pesos, 24 September 1975, No. B00163092, blue and multicoloured, Pansau Na Isna at left, reverse field workers; 100 Pesos, 24 September 1975No. J 001-63469,Domingos Ramos at left, reverse woman and hut; 500 Pesos,24 September 1975, No. H 001-19634, green and multicoloured, Amilcar Cabral at left, reverse carving and two youths. (Pick 1, 2, 3), the 500 Pesos about uncirculated to

uncirculated and a very elusive note, the remainder uncirculated (3) Estimate ÂŁ120-150

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379


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x411 Banco Nacional da GuineBissau, a group of the 197884 Issue comprising 100 Pesos,No. C/1-945158, red, 500 Pesos,No. D/1 416199, blue, 1,000 Pesos, No. A/4706289, green, 5000 Pesos, No. A/8 846628, brown; also a group of the 1990 Issue comprising 50 Pesos,No. AA088749, red, 100 Pesos,No. BA 384887, grey, 500 Pesos,No. CC 381991, blue, 1000 Pesos,No. DD 837361, brown, 5000 Pesos,No. EF 789723, purple, 10,000 Pesos, No. FA 872842, green. (Pick 6, 7, 8b, 9, 10, 11, 12, 13b, 14b, 15a), uncirculated (10) Estimate ÂŁ30-35

380

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OCTOBER 4, 2013 - LONDON

Lot No. x412

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381


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x412 Banco Nacional da Guine-Bissau, 1,000 Pesos, green, a group of eight uniface progressive proofs; obverse (4) and reverse (4), 1978, Cabral at right. (Pick 8 for type), unusual and very rare (8) Estimate ÂŁ150-200

Amilcar Cabral

382

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Italian East Africa Italy entered World War II on the Axis side on June 10, 1940, as the defeat of France became apparent. By that time it possessed a vast proportion of territories in Africa known as Italian East Africa, Africa Orientale Italiana (AOI), a short lived entity (1936-1941) consisted of Italian occupied Ethiopia and the colonies Italian Somaliland and Eritrea. On 17 August Italian forces completed their overtaking of Protectorate of British Somaliland and its annexation to Italian East Africa; thus marking the beginning of the East Africa campaign. By the end of the campaign in November 1941, the Italians were defeated and lost their entire hold in Africa.

RULERS: Italy, 1936-1941

MONETARY SYSTEM: Italian lira


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Banca d’Italia Italiana

overprinted

Africa

Orientale

Following the Italian occupation of Ethiopia in 1935 and its transformation into Italian East Africa, the thaler was abolished and the Italian lira was introduced as the only legal tender (15 July 1936) at 3 lire per thaler (birr). In an effort to increase the use of Italian paper money, the exchange rate for silver coin (Maria Theresa thalers) was raised to 4.50 lire, then to 5.00, and eventually, in stages, to 13.50. Regular banknotes of Banca d’Italia circulated after 15 July 1936. Special notes with a red overprint were authorised for Italian East Africa on 12 September 1938, and a large quantity was printed. It is not clear, however, when, where, and to what extent these special notes were actually circulated (Italian East Africa Pick 1-4). Following the East African Campaign (June 1940 to November 1941) the Italian forces were evacuated from Africa. British forces brought with them Indian, Egyptian, British, and British East African currency, and all were received in official payments. Italian coins and notes of up to 50 lire were allowed to continue in circulation to serve as small change; higher denominations were withdrawn at a rate of 24 lire per shilling. Maria Theresa thalers were allowed to circulate with a value of 1s 10½d (or 45 lire).

384

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OCTOBER 4, 2013 - LONDON

x413 Italian East Africa, 50 lira, 1939,Serial No. C479589 green, red Italia seal at right, wreath at left, reverse green, Romulus and Remus and She-wolf. (Pick 1b), VG to fine Estimate ÂŁ60-70

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385


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x414 Banca d’Italia, 1000 Francs, 1938, serial number M2-0684, violet, Pale blue and multicoulured, wreath at left and right, red Italia seal top centre, two maidens reclining low centre, Venzia and Genoa, Azzolini and Urbini signatures, red SERIE SPECIALE AFRICA ORIENTALE ITALIANA in top margin, reverse violet and brown, statue of Industry, Ceres and Mercury at centre, value at each corner. ITALIANA in red in top. (Pick 4a, Schwan-Boling 634a), pencil annotation at right, soft crease otherwise extremely fine and lovely example, very rare in this grade Estimate £1,500-2,000

386

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Italian Somaliland Italian Somaliland, a former Italian colony in East Africa, extended south from Ras Asir to Kenya. Area: 178,218 sq. mil. (461,585 sq. km.). Captial: Mogadishu. In 1885, Italy obtained commercial concessions in the area from the sultan of Zanzibar, and in 1905 purchased the coast from Warshek to Brava. The Italians then extended their occupation inward. Cession of Jubaland Province by Britain in 1924, and seizure of the sultanates of Obbia and Mijertein in 1925-27 brought direct Italian administration over the whole territory. Italian dominance continued until World War II. British troops occupied Italian Somaliland in 1941. Britain administered the colony until 1950, when it became a UN trust territory administered by Italy. On July 1, 1960, Italian Somaliland united with British Somaliland to form the independent Somali Democratic Republic. 

RULERS: Italian, 1892-1941, 1950-1960 British, 1941-1950

MONETARY SYSTEM: 1 Rupia = 100 Bese to 1925 1 Lira = 100 Centesimi, 1925-1950 1 Somalo = 1 Lira 1950-1960 1 Shilling = 100 Cents, WW II British occupation


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

V. Filonardi & Co. The first known currency specific to Italian Somaliland was an 1893 issue of 5 rupees by ‘V. Filonardi & Company’. In 1889, Vincenzo Filonardi, the Italian Consul at Zanzibar, concluded treaties with the Majerteyn Sultans of Obbia and Aula in favour of the Italian government and later acquired control of other ports by sub-letting them from the Imperial British East Africa Company or renting them from the Sultan of Zanzibar. The last agreement was signed in 1892, but by this time Filonardi had forgone his consul’s post to establish his own trading company. Having arranged the various treaties and acquisitions for the Italian government, the government had entrusted their holdings on the Benadir coast to Filonadi, who opened his first establishment at Adale (Itala) in 1891. However, trade from Somalia was not enough to support the former consul’s enterprise and V. Filonadi & Company was wound up in 1896. From this point, the Italian government ran their possessions through Italian Residents at four ports on the coast. The notes issued by V. Filonardi & Company carried the following text: V. Filonardi & C. Buono per Rupie Cinque pagabili al portatore. Itala 15 luglio 1893; i.e. ‘V. Filonardi and Company, Good for five rupees, payable to the bearer. Itala (Adale) 15 July 1893’. Above the signature of Vincenzo Filonardi are the words Il gerente (The Manager). The text was repeated on the back of the note in Arabic. To the left of the note is a blind stamp which embosses text in Latin and Arabic characters. The notes were printed by Litografica Salomone – Roma. It is believed that Filonardi & Company issued only the 5 rupie note. The notes of V. Filonardi & Company were promissory notes.

388

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OCTOBER 4, 2013 - LONDON

x415 Italian Somaliland, V. Filonardi & Co., 5 rupie, 15 July 1893, serial number 05438 A, black text on pale blue and white, star art centre, embossed seal at left, printed signature low right, reverse red Arabic text; Perforated left margin. This is the only denomination known for this series. (Pick 1), minor tear at left centre margin

otherwise almost uncirculated and very rare in this grade, exceptional for type Estimate ÂŁ900-1,100 www.spink.com

389


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Banca d’Italia Somalia Italiana While successful as a coin, problems arose when the silver content of the Italian silver rupees became more valuable than the coins themselves. This led to a drain of coins from the Italian colony. Under Decree No.600 of 13 May 1920 the Bank of Italy began issuing cash certificates (buoni di cassa) in Italian Somalia rupie. The cash certificates were given the status of legal tender and could pay any debt with the Italian government. Certificates in the denominations of 1, 5, 10, 20 and 50 rupie were to be issued, but as it transpired, only 1, 5 and 10 rupie (Pick 2-4) certificates were issued. The certificates were to be fully convertible, but by the time that they were introduced, the convertibility was suspended. The certificates were a resounding success and anecdotal evidence suggests they were preferred to silver coins. Although up to two million rupees were allowed to be issued in cash certificates, the amount in circulation never exceed one and a half million rupees, which was reached in 1924.

Cassa per la Circolazione Monetaria della Somalia Following the East African Campaign (June 1940 to November 1941) the Italian forces were evacuated from Africa. The British East African shilling was de facto the currency used in the territory, at a rate of 24 lire per shilling. After World War II the United Nations placed former Italian Somaliland under the administration of an Italian Trusteeship. The United Nations approved passing control of the Trust Territory to Italy in November 1949 and on 27 January 1950, Italy was given financial administration of the Territory. It formed the Cassa per la Circolazione Monetaria della Somalia, Cashier for Monetary Circulation of Somalia. After rejecting the idea of re-introducing the Italian lira, or a currency linked to the lira, it was decided to introduce a new currency, the ‘somalo’ and it was at par with the East African shilling. By making the somalo equivalent to the East African shilling, it was anticipated that the transition to the new currency would be as painless as possible. In adopting the value of the East African shilling, it was also decided to utilize the same denominations in which the East African shillings were issued, although not all denominations issued by the East African Currency Board were adopted for the new currency. Notes were prepared in the denominations of 1, 5, 10, 20 and 100 somali (Pick 11-15). In 1951 a second type of 5 somali (Pick 16) was issued, similar in design to the 1 somalo (Pick 11) (‘somali’ being the plural of ‘somalo’.); the designs for the notes and coins were detailed in Ordinances No.15 of 18 May 1950 and No.44 of 22 July 1950; the first design was used for the 1 somalo note and the second 5 somali note, while the second design was used for the first 5 somali note and the 10 and 20 somali 390

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OCTOBER 4, 2013 - LONDON

notes; the 100 somali note had its own design. Notes were printed by the Istituto Poligrafico dello Stato. Officana Carte Valori-Roma (i.e. the State Printing Office. Banknote Works Rome) and their imprint I.P.S. Off. Carte-Valori-Roma appears in the bottom margin of each note. As the Italian Trusteeship of Somalia neared its end, a decision was taken to convert the Cassa per la Circolazione Monetaria della Somalia into a central bank, as it was deemed that such an entity would be needed by independent Somalia. A Directorate General of the Cassa per la Circolazione Monetaria della Somalia was established at Mogadishu on 6 April 1959 and an office was established to take over the responsibilities previously undertaken by the Bank of Italy. The United Nations Trust Territory of Somalia became independent on 1 July 1960.

x416 Cassa per la Circolazione Monetaria della Somalia, specimen 1 somali, 1950, red-brown and yellow, leopard’s head at centre, value at left, reverse brown-violet, value at centre, ROMA 1950 at right. The 1 somalo note of this issue is an enigma for two reasons. Firstly, the face text includes the error “1 Somali” designation while the back expresses the value as “1 Somalo”, the correct singular form. Secondly, this note is a mystery because it was never placed into circulation. Evidently, the coin of the same value was declared to be preferable to the note. (Pick 11s, Gavello 314), red SPECIMEN overprint, uncirculated and rare, very charming note. Estimate £900-1,000

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391


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x417 Cassa per la Circolazione Monetaria della Somalia, specimen 10 somali, 1950, green and yellow, ornamental urn at left and right, value at left and right, reverse green, value at left and right, ROMA 1950 low left. (Pick 13s, Gavello 320), red SPECIMEN

overprint, uncirculated and very rare Estimate ÂŁ900-1000

x418 Cassa per la Circolazione Monetaria della Somalia, specimen 20 somali, 1950, brown and yellow, ornamental urn at left and right, value at left and right, reverse brown, value at left and right, ROMA 1950 low left. (Pick 14s, Gavello 322), red SPECIMEN overprint, uncirculated and rare Estimate ÂŁ500-600

392

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OCTOBER 4, 2013 - LONDON

x419 Cassa per la Circolazione Monetaria della Somalia, specimen 100 somali, 1950, violet and pale yellow, lion at left, value at each corner, reverse violet and pale tan, in the right centre of the frame is the Palazzo del Governo of Somalia, ROMA 1950 low centre. (Pick 15s, Gavello 324), red SPECIMEN overprint, uncirculated and rare, a classicdesign Estimate ÂŁ3000-3500

x420 Cassa per la Circolazione Monetaria della Somalia, 100 somali, 1950, red serial number A001-074563, violet and pale yellow, lion at left, value at each corner, reverse violet and pale tan, in the right centre of the frame is the Palazzo del Governo of Somalia, ROMA 1950 low centre. 15a, Gavello 323), almost uncirculated, fresh and bright. Extremely rare in issued format, a classic design

(Pick

Estimate ÂŁ2200-2600

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393


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x421 Cassa per la Circolazione Monetaria della Somalia, 5 somali, 1951, red serial number A001-010443, violet and pale blue-grey and white, leopard at centre value at left, reverse brown and pale cream, value at centre, 1951 ROMA at right. The original 5 somali note did not prove popular when first introduced and, in fact, fewer notes than the authorised issue were printed. In addition, the 5 somali notes were the most widely used notes in circulation and were subject to significant wear and tear. This led to the need to replace these notes more often than the higher denomination notes and more notes could be produced when a smaller sized format was adopted. The choice of a smaller sized note may also have been due to the similarity of the first 5 somali note to the 10 and 20 somali notes. It used a similar design to the unissued 1 somalo note. (Pick 16a, Gavell0 317), red manuscript ‘SOMALIA’ in low margin, uncirculated and rare Estimate £300-400

394

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Ivory Coast The Republic of Cote d’Ivoire (Ivory Coast), a former French overseas territory located on the south side of the African bulge between Nigeria and Ghana, has an area of 124,504 sq. mi. (322,463 sq. km.) and a population of 15.14 million. Capital: Abidjan. The predominantly agricultural economy is one of Africa’s most prosperous. Coffee, tropical woods, cocoa, and bananas are exported. The Ivory Coast was first visited by French and Portuguese navigators in the 15th century. French traders set up establishments in the 19th century, and gradually extended their influence along the coast and inland. The area was organized as a territory in 1893, and from 1904 to 1958 was a constituent unit of the Federation of French West Africa - as a Colony under the Third Republic and an Overseas Territory under the Fourth. In 1958 the Ivory Coast became an autonomous republic within the French Community. Independence was attained on Aug. 7, 1960. Together with other West African states, the Cote d’Ivoire is a member of the “Union Monetaire Ouest-Africaine.”  RULERS: French to 1960 MONETARY SYSTEM: 1 Franc = 100 Centimes On 11 February 1917, due to the savvier shortage of coins causes as WWI impacts, a special decree had been published approving the print of emergency notes of 50 centimes (a half franc), 1 and 2 franc currency notes. The notes had issued locally by each of the colonies distinguish by colours and signatures of the (colony) treasury and Governor. The design of the three notes included the relevant denomination coin at left and right of the obverse and the decree text on the reverse. The printed headline of each note was GOUVERNEMENT GÉNÉRAL DE L’A.O.F. (Afrique Occidentale Francaise) and a local print of COLONIE DU…. (colony of….). Notes issued as following: Colony / denomination

0.50 franc

1 franc

2 francs

Côte d’Ivoire (Ivory Coast)

Red-black

Green-yellow

Reddish

Dahomey

Red

Orange-yellow

-

Brown

Blue-green

-

Brown

-

-

Sénégal (Senegal)

Blue-green

Red (bright)

Orange-yellow

Soudan (Sudan)

Brown

-

-

Guinée française (French Guinea) Haut Sénégal et Niger (Upper Senegal and Niger)


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x422 Afrique Occidentale Francaise, Cote D’Ivoire, 511 February 1917, serial number E-5 468, orange on yellow, 50 centimes coin at left and right, value at centre, reverse black and white, text. (Pick 1a), ex Mel Steinberg. Almost uncirculated and scarce Estimate £280-340

A Sevier shortage of small exchange led to the issuing of stamp-currency; postage stamps in low denomination alternated for use as currency.

x423 Afrique Occidentale Francaise, Cote D’Ivoire, postage stamp currency for 10 centimes, ND (1920), red stamp on tan card, oarsmen in canoe on a river, black overprint ‘Valeur d’echange 0fr.10’. (Pick 5), ex Mel Steinberg. Uncirculated and scarce Estimate £120-160

x424 Afrique Occidentale Francaise, Cote D’Ivoire, postage stamp currency for 25 centimes, ND (1920), blue stamp on tan card, oarsmen in canoe on a river, black overprint ‘Valeur d’echange 0fr. 25’. (Pick 6), ex Mel Steinberg. Uncirculated

and scarce Estimate £120-160 396

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K atanga Katanga, the southern province of the former Zaïre extends northeast to Lake Tanganyika, east and south to Zambia, and west to Angola. It was inhabited by Luba and Bantu peoples, and was one of Africa’s richest mining areas. The Belgian Congo achieved independence on 30 June 1960 under the name “République du Congo” led by Patrice Émery Lumumba, Congolese independence leader and the first democratically elected Prime Minister. On 11 July 1960, Katanga, under the leadership of Provincial President Moïse Tshombé and supported by Belgian business mining interests and over 6,000 Belgian troops, seceded from the newly independent Republic of the Congo, in revolt against the new government of Patrice Lumumba. The new Katangan government did not enjoy full support throughout the province, especially in the northern Baluba areas. A period of political confusion and bloody South Atlantic Ocean fighting involving Congolese, Belgian and United Nations forces ensued. On December 24, 1962, United Nations forces and Katangan Gendarmes clashed near a UNF observation post near Élisabethville and within three days Élisabethville was under UN control. On 21 January 1963, Moise Tshombe conceded defeat and agreed to allow UN officials into Kolwezi, his last surviving stronghold. Katanga was reintegrated into the Republic of the Congo. The state is now Katanga Province, part of Democratic Republic of the Congo.

MONETARY SYSTEM: 1 Franc = 100 Centimes


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Banque Nationale du Katanga Banque Nationale du Katanga was created by an act of the Katangan Assembly on 8 August 1960, less than one month after declaring its independence; a Katangan franc was declared, replacing the Belgian Congo franc at par and was consequently initially equal to the Belgian franc. This established an exchange rate of 50 francs = 1 U.S. dollar. Just before Katanga was re-annexed by Congo, the exchange rate had fallen to 195 francs = 1 U.S. dollar. In 1963 Katangan franc was replaced at par by the Republic of the Congo franc. Other than the two series of the National Bank detailed below, a provisional issue of Rwanda and Burundi 5, 10, 20, and 50 francs (Katanga Pick 1-4 on Rwanda and Burundi Pick 1-4) overprinted ‘GOUVERNEMENT KATANGA’ are known; the notes are extremely rare and it is believed that they were released in between November 1960 and January 1961 in a region in North Katanga and had been endorsed for repayment by the Katangan government.

First series The first series of banknotes was introduced into general circulation on 9 January 1961; it included denominations of 10, 20, 50, 100, 500 and 1,000 francs (Pick 5, 6, 7-10). All notes have a uniform design with President Moise Tshombe on right-hand side of obverse and the Civic Theatre in Élisabethville on the left-hand side of the reverse. Notes were printed by Swiss printer Roto-Sagag SA. The three lower denominations were at the same size while the higher notes were larger and at the same sides. Interestingly and most unusual is the appearance of signatures on both sides. Other than the issued series, 10 and 20 franc notes were printed by Waterlow & Sons (Pick 5A, 6A) but eventually were tabled in favour of the Swiss printing and as officially explained, due to higher costs.

398

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OCTOBER 4, 2013 - LONDON

x425 Banque Nationale du Katanga, a 10 franc remainder, ND (ca 1960), no serial numbers, green and multicoloured, Tshombe at left, dam at right, flag at right margin, reverse brown and multicoloured, steel foundry at centre, value at left and right. (Pick 5Ar), uncirculated and rare Estimate £800-1,000

x426 Banque Nationale du Katanga, 10 francs, Elisabethville, 15 December 1960, serial number FP186048, purple, yellow and lilac, Moise Tshombe at right, reverse Civic Theatre in Élisabethville at left, value at right. (Pick 5), extremely fine, scarce Estimate £120-140

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399


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x427 Banque Nationale du Katanga, 20 francs, Elisabethville, 21 November 1960, serial number FA003114, blue and brown, Moise Tshombe at right, reverse Civic Theatre in Élisabethville at left, value at right. (Pick 6), uncirculated, scarce Estimate £200-220

x428 Banque Nationale du Katanga, 50 francs, Elisabethville, 10 November 1960, serial number DK335695, pink and blue, Moise Tshombe at right, reverse Civic Theatre in Élisabethville at left, value at right. (Pick 7a), almost uncirculated, scarce Estimate £200-220

400

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x429 Banque Nationale du Katanga, 100 francs, Elisabethville, 31 October 1960, serial number AO042239, pale orange, green, Moise Tshombe at right, reverse Civic Theatre in Élisabethville at left, value at right. (Pick 8a), almost uncirculated, scarce Estimate £200-240

x430 Banque Nationale du Katanga, 500 francs, Elisabethville, 31 October 1960, serial number BI740449, green, brown and lilac, Moise Tsombe at right, reverse Civic Theatre in Élisabethville at left, value at right. (Pick 9a), about very fine, rare Estimate £400-450

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401


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x431 Banque Nationale du Katanga, 500 francs remainder, Elisabethville, 31 October 1960, no serial numbers, green, brown and lilac, Moise Tsombe at right, reverse Civic Theatre in Élisabethville and value omitted. (Pick 9r), about uncirculated and a rare

missing print error on reverse Estimate £150-200

x432 Banque Nationale du Katanga, 1,000 francs, Elisabethville, 31 October 1960, serial number AG 154611, blue and brown, Moise Tsombe at right, value at left, reverse Civic Theatre in Élisabethville at left, value at right. (Pick 10a), very fine, rare Estimate £350-400

402

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Second series A second series of notes was also issued dated 1962 and 1963 in denominations of 100, 500, and 1,000 francs (Pick 12-14). The decision to issue a new series of bank notes was in part due to the realisation that the notes of the original issue were not satisfactory from a technical point of view. The bank notes of the second issue were manufactured by the noted security printer ‘Johan Enschede en Zonen’ of the Netherlands and were printed on quality paper which had imbedded colour fibres, a security thread and the watermark of the head of an elephant. On the back, below the area containing the watermark, can be found Counterfeiting Penal Code warning in French. The first note of the second series to be issued was the 1,000 franc note, which was released on Monday 26 February 1962; the second note to be introduced in the second issue was the 500 franc note and it appears to have been introduced on 17 April 1962; the third note to be released was the 100-franc note and it was introduced on 18 May 1962.

x433 Banque Nationale du Katanga, 100 francs, Elisabethville, 15 September 1962, red serial number EE496214, green and multicoloured, woman with maize at right, value at centre and at each corner, reverse green, circular pattern of African masks at left. (Pick 12a), about uncirculated, scarce Estimate £180-220

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403


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x434 Banque Nationale du Katanga, 1,000 francs, Elisabethville, 26 February 1962, red serial number AB143099, blue and multicoloured, woman, with a baby on her back, harvesting cotton, value at centre and at each corner, reverse blue, circular pattern of African masks at left. (Pick 14a), an original good very fine, rare Estimate ÂŁ250-300

404

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Kenya The Republic of Kenya, located on the east coast of Central Africa, has an area of 224,961 sq. mi. (582,646 sq. km.) and a population of 30.34 million. Capital: Nairobi. The predominantly agricultural country exports coffee, tea and petroleum products. Founding president and liberation struggle icon Jomo Kenyatta led Kenya from independence in 1963 until his death in 1978, when President Daniel Toroitich arap Moi took power in a constitutional succession. The country was a de facto oneparty state from 1969 until 1982 when the ruling Kenya African National Union (KANU) made itself the sole legal party in Kenya. Moi acceded to internal and external pressure for political liberalization in late 1991. The ethnically fractured opposition failed to dislodge KANU from power in elections in 1992 and 1997, which were marred by violence and fraud, but were viewed as having generally reflected the will of the Kenyan people. President Moi stepped down in December 2002 following fair and peaceful elections. Mwai Kibaki, running as the candidate of the multiethnic, united opposition group, the National Rainbow Coalition (NARC), defeated KANU candidate Uhuru Kenyatta and assumed the presidency following a campaign centered on an anticorruption platform. Kibaki’s NARC coalition splintered in 2005 over the constitutional review process. Government defectors joined with KANU to form a new opposition coalition, the Orange Democratic Movement, which defeated the government’s draft constitution in a popular referendum in November 2005. Kibaki’s re-election in December 2007 brought charges of vote rigging from ODM candidate Raila Odinga and unleashed two months of violence in which as many as 1,500 people died. UN-sponsored talks in late February produced a power sharing accord bringing Odinga into the government in the restored position of prime minister.

RULERS: British to 1964

MONETARY SYSTEM: 1 Shilling (Shilingi) = 100 Cents


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Central Bank of Kenya and its banknotes The Central Bank of Kenya was established in 1966 through an Act of Parliament the Central Bank of Kenya Act of 1966. The establishment of the Bank was a direct result of the desire among the three East African states, Kenya, Tanzania and Uganda to have independent monetary and financial policies. This led to the dissolve of the East Africa Currency Board (EACB) in 1965-6. Following the promulgation of the new constitution on 27 August 2010, the Central Bank of Kenya (CBK) was established under Article 231 of the Constitution, 2010. Under this Article the Central Bank has the responsibility of formulating monetary policy, promoting price stability, issuing currency and performing any other functions conferred on it by an Act of Parliament. Kenya began printing and minting its own currency in 1966, replacing what was commonly referred to as Lake Victoria Money (East African Currency Board Pick 45-48). The initial issue of Kenya shilling notes were in the denominations of 5, 10, 20, 50 and 100 shillings (Pick 1-5), all bearing the portrait of the First President of Kenya, H.E. Mzee Jomo Kenyatta on the front, and diverse scenes of economic activities in Kenya at the back. In 1979, following the death of H.E. Mzee Jomo Kenyatta and the subsequent inauguration of H.E Daniel Toroitich Arap Moi as the second President of the Republic of Kenya, new notes and coins with new security features were issued to commemorate the events and usher in a new era by including the President’s portrait. Current generations of Kenyan banknotes all have the portrait of the First President of Kenya, the Late Mzee Jomo Kenyatta. They range in the denominations 50, 100, 200, 500 and 1,000 shillings.

Mazze Jomo Kennatta 406

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OCTOBER 4, 2013 - LONDON

x435 Central Bank of Kenya, 5 shillings (2), 1966,No. A/1 960506 and 1967,No. A/15 941105, brown and multicoloured,President Jomo Kenyatta at lefton Obverse, value at centre and at each corner, girl harvesting coffee on reverse. (Pick 1a,1b), uncirculated and scarce, very fine (2) Estimate ÂŁ120-140

x436 Central Bank of Kenya, 10 shillings, 1966, serial number A/1 693211, green and multicoloured, President Jomo Kenyatta at lefton obverse, value at centre and at each corner, three farmers on the field harvesting on the reverse. (Pick 2a), uncirculated and scarce Estimate ÂŁ120-140

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407


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x437 Central Bank of Kenya, 50 shillings, 1 July 1968, serial number A/4-602280, dark grey and multicoloured, President Jomo Kenyatta at left, value at centre and at each corner on obverse, farmers harvesting cotton on reverse. (Pick 4c), fine and a rare type Estimate ÂŁ150-200

x438 Central Bank of Kenya, 100 shillings (2), 1966, A/5-230153 and 1968, No. A/12 153967, purple and multicoloured, President Jomo Kenyatta at left, value at centre and at each corner on obverse, three farmers harvesting pineapple on reverse. (Pick 5a, 5b), fine and very fine (2) Estimate ÂŁ60-80

408

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OCTOBER 4, 2013 - LONDON

x439 Bank of Kenya, 5 shillings, 1 July 1971, No. A/46-597574, brown and multicoloured, Kenyatta at left, value at centre and at each corner, girl harvesting coffee on reverse and 20 shillings, 1 July 1973, No. A/78-581664, Kenyatta at left, value at centre and at each corner on obverse, farm and train with crops on reverse. (Pick 6b,8d), extremely fine and scarce,

uncirculated (2) Estimate ÂŁ120-140

x440 Central Bank of Kenya, 50 shillings, 1 July 1971, serial number A/8 123133, dark grey and multicoloured, President Jomo Kenyatta at left, value at centre and at each corner, farmers harvesting cotton on reverse. (Pick 9b), uncirculated and a scarce type Estimate ÂŁ250-280

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409


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x441 Central Bank of Kenya, 100 shillings (3), 1 July 1969, No. A/15078851; 1 July 1971,No. A/27 676478 and 1 July 1972,No. A/35 337313, purple and multicoloured, President Jomo Kenyatta at left, value at centre and at each corner on obverse, Pineapple farm on reverse. (Pick 10a, b, c), very fine, extremely fine and good fine (3) Estimate ÂŁ120-140 410

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OCTOBER 4, 2013 - LONDON

x442 Central Bankof Kenya, 5/-, 1977, 10/-, 1977, 20/- 1977 and 100/-, 1977, all Kenyatta at lefton obverse. (Pick 11d, 12c, 13d, 14d) almost uncirculated to uncirculated (4) Estimate ÂŁ120-140

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411


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x443 Central Bank of Kenya, a group of the 1 July 1978 Issue comprising 5 Shillings, brown, 10 Shillings, green, 20 Shillings, blue, 100 Shillings, purple, all Kenyatta at left; also a group of the1980-94 Issues comprising 5 Shillings, 1 January 1982, orange-brown, 10 Shillings, 2 January 1992, green, 20 Shillings (2), 1 July 1989, 14 September 1993, blue, 200 Shillings, 1 January 1994, black-brown, all President ArapMoi at right; also 500 Shillings, 1 April 2003, multicoloured, Kenyatta at left. (Pick 15, 16, 17, 18, 19b, 24d, 25b,29f, 31a, 44a), Pick 24d very fine, the

remainder uncirculated (10) Estimate ÂŁ40-60

412

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Lesotho The Kingdom of Lesotho, a constitutional monarchy located within the east-central part of the Republic of South Africa, has an area of 11,716 sq. mi. (30,355 sq. km.) and a population of 2.29 million. Capital: Maseru. The economy is based on subsistence agriculture and livestock raising. Wool, mohair, water through Katse Dam, and cattle are exported. Basutoland was renamed the Kingdom of Lesotho upon independence from the UK in 1966. The Basuto National Party ruled for the first two decades. King Moshoeshoe was exiled in 1990, but returned to Lesotho in 1992 and was reinstated in 1995. Constitutional government was restored in 1993 after seven years of military rule. In 1998, violent protests and a military mutiny following a contentious election prompted a brief but bloody intervention by South African and Botswana military forces under the aegis of the Southern African Development Community. Subsequent constitutional reforms restored relative political stability. Peaceful parliamentary elections were held in 2002, but the National Assembly elections of February 2007 were hotly contested and aggrieved parties continue to periodically demonstrate their distrust of the results.

RULERS: King Motlotlehi Moshoeshoe II, 1966-1996 King Letsi III, 1997-

MONETARY SYSTEM: 1 Loti = 100 Lisente


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Lesotho Monetary Authority Central Bank of Lesotho and their banknotes The Central Bank of Lesotho (CBL) was first established as the Lesotho Monetary Authority in 1978, under the Lesotho Monetary Authority Act of 1978. It started its operations on 2 January 1980. In 1982, through an Act of Parliament, the name Lesotho Monetary Authority was changed to the Central Bank of Lesotho (CBL) and additional functions and responsibilities were prescribed to the new institution. In August 2000, the Central Bank of Lesotho Act of 2000 came into force. This new Act has conferred considerable autonomy to the Central Bank and defines a singular objective for the Bank. The loti (plural: maloti) is subdivided into 100 lisente (sg. sente) and pegged to the South African rand on a 1:1 basis through the Common Monetary Area, and both are accepted as legal tender within Lesotho. The loti was first issued in 1966, albeit as a non-circulating currency. In January 1980, banknotes dated 1979 (the last two digits of the year of issue are the serial number prefix denominator) were introduced in denominations of 2, 5 and 10 maloti (Pick 1-3). In 1981 notes of CBL were issued including 20 and 50 maloti notes (Pick 7-8). On 1 March 2011, at a celebration marking its 30th anniversary, the Central Bank of Lesotho launched a new series of banknotes dated 2010 aimed at fighting the spread of counterfeits. The notes feature a portrait of the three royal family members: the current king, His Majesty Letsie III is in the middle, his father King Moshoeshoe II is on the left, and the founder of the Basotho nation, King Moshoeshoe I, on the right.

King Moshoeshoe II

414

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OCTOBER 4, 2013 - LONDON

x444 Lesotho Monetary Authority, a group comprising 2 Maloti, 1979, brown and 5 Maloti, 1979, blue, both King Moshoeshoe II; Central Bank of Lesotho, a group of the 1981-84 Issues comprising 2 Maloti, 1981, brown, 5 Maloti, 1981, blue, 10 Maloti, 1981, red, 20 Maloti, 1984, green, all King Moshoeshoe II at right wearing military uniform at right on obverse, nature and life images on reverse. (Pick 1a, 2a, 4a, 5a, 6b, 7b), uncirculated (6) Estimate ÂŁ70-90 www.spink.com

415


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x445 Central Bank of Lesotho, 50 Maloti, 1981, serial number A/81-100107, purple and deep blue on multicolouredunderprint, King Moshoeshoe II in military uniform with cap at right, arms at centre, reverse rock formation on Qiloane Mountain. (Pick 8a), uncirculated, very scarce and the key note of the country Estimate ÂŁ300-400

416

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OCTOBER 4, 2013 - LONDON

x446 Central Bank of Lesotho, a group of the 1989-90 Issues comprising 2 Maloti, 1989, brown; 5 Maloti, 1989, blue; 10 Maloti, 1990, red; 20 Maloti, 1990, green; 50 Maloti, 1989, purple and blue, all civilian bust of King Moshoeshoe II at right on obverse, nature and life images on reverse. (Pick 9a, 10a, 11a, 12a, 13a), uncirculated (5) Estimate ÂŁ80-100 www.spink.com

417


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x447 Central Bank of Lesotho, a group of the 1992-2007 Issues comprising 50 Maloti, 1992, purple and green; 10 Maloti (2), 2000, 2006, red; 20 Maloti (2), 1994, 2007, green; 50 Maloti, 2001, purple and blue; 100 Maloti, 1994, 2007 (2), green and orange; 200 Maloti, 1994, brown and blue, all seated King Moshoeshoe I at right or left; also a group of the 2010 marking the 30th anniversary of the central bank of Lesotho, Issue comprising 20 Maloti, blue; 50 Maloti, purple; 100 Maloti, green, all portraits of three kings Moshoeshoe I, II & III at centre right, round houses, men on horses back & Shepard with flock on reverse. [Pick 14a, 15a, 15d, 16a, 16e, 17d, 18a, 19d (2), 20a, 22, 23, 24], uncirculated

and a useful lot (13) Estimate ÂŁ140-180

418

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Liberia The Republic of Liberia, located on the southern side of the west African bulge between Sierra Leone and the Ivory Coast, has an area of 38,250 sq. mi. (111,369 sq. km.) and a population of 3.26 million. Capital: Monrovia. The major industries are agriculture, mining and lumbering. Iron ore, diamonds, rubber, coffee and cocoa are exported. Settlement of freed slaves from the US in what is today Liberia began in 1822; by 1847, the Americo-Liberians were able to establish a republic. William Tubman, president from 1944-71, did much to promote foreign investment and to bridge the economic, social, and political gaps between the descendents of the original settlers and the inhabitants of the interior. In 1980, a military coup led by Samuel Doe ushered in a decade of authoritarian rule. In December 1989, Charles Taylor launched a rebellion against Doe’s regime that led to a prolonged civil war in which Doe himself was killed. A period of relative peace in 1997 allowed for elections that brought Taylor to power, but major fighting resumed in 2000. An August 2003 peace agreement ended the war and prompted the resignation of former president Charles Taylor, who faced war crimes charges in The Hague related to his involvement in Sierra Leone’s civil war. After two years of rule by a transitional government, democratic elections in late 2005 brought President Ellen Johnson Sirleaf to power. The UN Mission in Liberia (UNMIL) maintains a strong presence throughout the country, but the security situation is still fragile and the process of rebuilding the social and economic structure of this war-torn country will take many years. MONETARY SYSTEM: 1 Dollar = 100 Cents


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Republic of Liberia, Treasury Department The first Liberian dollar was issued in 1847. It was pegged to the US dollar at par and circulated alongside the US dollar until 1907, when Liberia adopted the British West African pound, which was pegged to sterling. The Treasury Department issued notes between 1857 and 1880 in denominations of 10 and 50 cents, 1, 2, 3, 5 and 10 dollars (Pick 6-16). All notes had uni-design and were uniface. United States currency replaced the British West African pound in Liberia in 1935. In 1937, Liberia issued the second Liberian dollar but only in the form of coins which were circulated alongside US currency.

x448 Republic, Treasury Department, 50 Cents, Monrovia, 24 August 1863, No. hand written 325?? black on white, uniface, dove carrying scroll flying above ship at sea, with plow, shovel & palm tree on shore at upper centre, Type 1 with text, “Pay to bearer in Gold or Silver Coin”, manuscript signatures of secretary at left, president at right. (Pick 6c), ex Mel Stienberg, ageing, otherwise very

good, very scarce Estimate £250-350

420

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OCTOBER 4, 2013 - LONDON

x449 Republic, Treasury Department, $1, Monrovia, 24 August 1863, No. hand written 3084, black on white, uniface, dove carrying scroll flying above ship at sea, with plow, shovel & palm tree on shore, Type 1 with text, “Pay to bearer in Gold or Silver Coin”, manuscript signatures of secretary at left, president at right. (Pick 7c), ex Mel Stienberg,very good to

fine, very scarce Estimate £350-450

x450 Republic, Treasury Department, $3, Monrovia, 28 December 1863, manuscript serial number 1384, black on white, uniface, dove carrying scroll flying above ship at sea, with plow, shovel & palm tree on shore at upper centre, Type 1 with text, “Pay to bearer in Gold or Silver Coin”, manuscript signatures of secretary at left, president at right. (Pick 8), ex Mel Stienberg, attractive

fine, and rare in this grade Estimate £700-900

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421


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

National Bank of Liberia and Central Bank of Liberia and their banknotes National Bank of Liberia was established in 1974 but it wasn’t until 1989 that it issued its first banknote, a $5 note modeled on the US greenback (“J. J. Roberts” notes). The design was modified during the 1990-2004 civil war to ostracize notes looted from the National Bank of Liberia and a new note was issued, identical in design to its previous but the portrait of J. J. Roberts was replaced by the national emblem; these were known as “Liberty” notes. This effectively created two currency zones -- the new “Liberty” notes were legal tender in government-held areas (primarily Monrovia), while the old notes were legal tender in non-government areas. Each was of course illegal in the other territory. Following the end of the civil war and the election of the Charles Taylor government in 1997, the Central Bank of Liberia (CBL) was established on 18 October 1999 by an Act of the National Legislature of the Republic of Liberia. It became functional in 2000 and succeeds the National Bank of Liberia (NBL). On 29 March 2000, the Central Bank of Liberia introduced a new “unified” currency, dated 1999, which was exchanged at par for “J. J.” notes and at a ratio of 1:2 for “Liberty” notes. The new banknotes each feature a portrait of a former president. These notes remain in current use, although they underwent a minor redesign in 2003, with new dates, signatures, and the CENTRAL BANK OF LIBERIA banner on the back. Ironically, the $50 note honoured President Samuel Doe who was brutally executed by forces loyal to Taylor within the civil war.

422

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OCTOBER 4, 2013 - LONDON

x451 National Bank of Liberia, a group of four unadopted essays for a $10, ND (ca 1985), orange and brown, red and green, green and orange and brown and green respectively, Samuel Doe at centre, arms at left, reverse arms and value. These essays are similar to the design style of US notes and Liberia first 1989 $5. Surprisgly, the denomination is of $10 and not as final. (Pick unlisted), only a few examples believed extant,

unusual and interesting, Doe was assasinated .(4) Estimate ÂŁ4,500-5,000

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423


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

x452 National Bank of Liberia and Central Bank of Liberia, a group comprising $5, 1989, green, Joseph Roberts at centre; $5, 1991, green, arms at centre; Central Bank of Liberia, $5 (2), 1999, 2003, red, Edward J. Roye at centre; $10 (2), 1999, 2003, blue, Roberts at centre; $20 (2), 1999, 2003, brown, William V. S. Tubman at centre; $50 (2), 1999, 2003, purple, Samuel K. Doe at centre; $100 (2), 1999, 2003, green, William R. Tolbert at centre. (Pick 19, 20, 21, 22, 23a, 24, 25, 26a, 27a, 28a, 29a, 30a), the Pick 20 fine,

the remainder uncirculated (12) Estimate ÂŁ20-30

End of Morning Session 424

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OCTOBER 4, 2013 - LONDON

Bibliography: (Presented by alphabetic order; multi IBNS articles presented by date of publication)

General references Books Eagleton, Catherine and Fuller Harcourt; Money in Africa, British Museum Research Publication, Volume: 171 (Featuring 12 papers from the ‘Money in Africa’ conference held at the British Museum), British Museum Press, 2009 (Book; ISBN 9780861591718). Hessler, Gene; The International Engraver’s Line, 2005 (Book; ISBN 9780976841104). Leclerc, Roger; (numismate.), Kolsky Maurice, Les billets africains de la zone franc, 2000 (Book; ISBN 2906602175). Schwan, C. Frederick and Boling, Joseph E.; World War II Remembered, 1995 (Book; ISBN 0931960401).

Banknotes Catalogues Standard Catalog of World Paper Money Linzmayer, Owen W.; The Banknote Book

References by country Angola The Alves dos Reis episode: Bloom, Murray Teigh; The Man Who Stole Portugal, London: Secker & Warburg, 1966 (Book). Bull, Andrew; Alves Reis and the Portuguese Bank Note Scandal of 1925, The British Historical Society No. 24: pp 22–57, 1997 (Article). Kisch, C.; The Portuguese Bank Note Case London: Macmillan, 1932 (Book). Wigan, Henry; The Effects Of The 1925 Portuguese Bank Note Crisis, Department of Economic History, London School of Economics, February 2004, (Article). Belgian Congo August, (D.) and Selvais, (Ch.); État indépendant du Congo, Congo belge, Congo belge et Ruanda-Urundi, Rwanda-Burundi, Katanga, 1896-1962. History of Paper Money. Billeta Belgica: De Mol Imprimerie, 2002 (Book; ISBN 9090156720) Note: prior to the publication of the above book, David August had published between 2000 and 2001 a series of four articles in the International Bank Note Society Journal titled Bank notes in the Belgian Congo, Part I-IV. Biafra Symes, Peter; The Bank Notes of Biafra, International Bank Note Society Journal Volume 36, No.4, 1997 (Article) Cape Verde Symes, Peter; The Banknotes of Cape Verde after Independence, 2005 (Article).

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425


THE IBR AHIM SALEM COLLECTION OF AFRICAN BANKNOTES - PART I

Central African States Banque Des États De L’afrique Centrale; Les billets de banque en Afrique Centrale, Trentenaire de la BEAC 1972-2002, 2002 (Booklet commemorating the bank’s 30th anniversary). Eritrea Linzmayer, Owen W.; Eritrean Banknotes – The Birth of the Nakfa, IBNS journal Volume 50 No.2, pp. 1221, 2011 (Article). German East Africa Engelhardt, Claus; Die Friedensausgaben der Deutsch-Ostafrikanischen Bank 1905 – 1918, 2010 (Book; ISBN 9783866468153). German South West Africa Refer to Papenfus, Julian at South Africa. Gold Coast Dabbah, Raphael; Between the Gold and the Coast, the suggested currency for The Gold Coast 1954-55, 2013 (Article to be published towards the end of 2013). Guinea-Bissau Symes, Peter; The Bank Notes of Guinea-Bissau, International Bank Note Society Journal, Volume 39, No.1, 2000 (Article). Italian Somaliland Symes, Peter; Italian Somaliland: The Banknotes of Somalia, 2005 (Article). Katanga Refer to August (D.), Selvais (Ch.) at Belgian Congo. Symes, Peter; The Bank Notes of Katanga, 1998 (Book; ISBN 0958540209)

426

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Prelims Morning session:Layout 1

28/8/13

09:50

Page 429

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DEFINITIONS The following definitions in this condition apply in these conditions.

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means a certificate issued by an Expert Committee confirming the authenticity of a Lot;

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means a committee of experts to whom a Lot may be sent for an extension in accordance with clause 3.4.3;

Forgery

means a Lot constituting an imitation originally conceived and executed as a whole with a fraudulent intention to deceive as to authorship, origin, age, period, culture or source where the correct description as to such matters is not reflected by the description in the catalogue and which at the date of the auction had a value materially less than it would have had if it had been in accordance with the description in the catalogue. Accordingly, no Lot shall be capable of being a Forgery by reason of any damage and/or restoration work of any kind (including re-enamelling);

Hammer Price

means the amount of the highest bid accepted by the auctioneer in relation to a Lot;

Lot

means any item deposited with us for sale at auction and, in particular, the item or items described against any Lot number in any catalogue;

Reserve

the amount below which we agree with the Seller that the Lot cannot be sold;

Seller

means the owner of the Lot being sold by us;

Spink Group

Spink and Son Limited, our subsidiaries and associated companies.

VAT

value added tax chargeable under VAT and any similar replacement or additional tax; and

VAT Symbols

means the symbols detailing the VAT status of the Lot details of which are set out at the back of the catalogue.

SPINK’S ROLE AS AGENT 2.1

All sales undertaken by us either at auction or privately are undertaken either as agent on behalf of the Seller or from time to time, as principal if we are the owner of the Lot. Please note that even if we are acting as agent on behalf of the Seller rather than as principal, we may have a financial interest in the Lot.

2.2

The contract for the sale of the Lot will be between you and the Seller.

the first session of the sale. If accepted by us, such request shall have the same effect as notice of an intention to question the genuineness or description of the Lot for the purposes of clause 5.13 (Refund in the case of Forgery) of these Terms and Conditions and the provisions of clause 5.13 (Refund in the case of Forgery) shall apply accordingly. 3.4.2 Notice of a request for an expert opinion or Certificate of Authenticity must give the reason why such opinion is required and specify the identity of your proposed expert which will be subject to agreement by us. We reserve the right, at our discretion, to refuse a request for an expert opinion or Certificate of Authenticity including (without limitation) where the proposed expert is not known to us.

BEFORE THE SALE 3.1

3.2

Examination of goods You are strongly advised to examine personally any goods in which you are interested, before the auction takes place. Condition reports are usually available on request. We provide no guarantee to you other than in relation to Forgeries, as set out in clause 5.13 of these Terms and Conditions.

3.4.3 If we accept a request for an expert opinion or Certificate of Authenticity we will submit the Lot to the Expert Committee. You acknowledge and accept that the length of time taken by an Expert Committee to reach an opinion will vary depending on the circumstances and in any event is beyond our control.

Catalogue descriptions 3.2.1 Statements by us in the catalogue or condition report, or made orally or in writing elsewhere, regarding the authorship, origin, date, age, size, medium, attribution, genuineness, provenance, condition or estimated selling price of any Lot are merely statements of opinion, and are not to be relied on as statements of definitive fact. Catalogue illustrations are for guidance only, and should not be relied on either to determine the tone or colour of any item or to reveal imperfections. Estimates of the selling price should not be relied on as a statement that this price is either the price at which the Lot will sell or its value for any other purpose. 3.2.2 Many items are of an age or nature which precludes their being in perfect condition and some descriptions in the catalogue or given by way of condition report make reference to damage and/or restoration. We provide this information for guidance only and the absence of such a reference does not imply that an item is free from defects or restoration nor does a reference to particular defects imply the absence of any others. 3.2.3 Other than as set out in clause 5.13, and in the absence of fraud, neither the Seller nor we, nor any of our employees or agents, are responsible for the correctness of any statement as to the authorship, origin, date, age, attribution, genuineness or provenance of any Lot nor for any other errors of description or for any faults or defects in any Lot.

3.3

3.4

Your Responsibility You are responsible for satisfying yourself as to the condition of the goods and the matters referred to in the catalogue description. Extensions – Stamps only 3.4.1 If you wish to obtain an expert opinion or Certificate of Authenticity on any Lot (other than a mixed Lot or Lot containing undescribed stamps) you must notify us in writing not less than forty-eight hours before the time fixed for the commencement of

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3.4.4 We will not normally accept a request for an extension on account of condition. Any Lot described in the catalogue as having faults or defects may not be returned even if an expert opinion or Certificate of Authenticity cites other faults or defects not included in the catalogue description, other than in the case of a Forgery. 3.4.5 Should Spink accept a request for an extension under the foregoing provisions of this paragraph, the fact may be stated by the Auctioneer from the rostrum prior to the sale of the Lot. 3.4.6 It should be noted that any stamp accompanied by a Certificate of Authenticity is sold on the basis of that Certificate only and not on the basis of any other description or warranty as to authenticity. No request for an extension will be accepted on such a stamp and the return of such a stamp will not be accepted. 4

AT THE SALE 4.1

Refusal of admission Our sales usually take place on our own premises or premises over which we have control for the sale, and we have the right, exercisable at our complete discretion, to refuse admission to the premises or attendance at an auction.

4.2

Registration before bidding You must complete and sign a registration form and provide identification before making a bid at auction. Please be aware that we usually require buyers to undergo a credit check. Some lots may be designated, prior to the auction, as “Premium Lots”, which means a deposit may be required before placing a bid on the item for sale. Information will be posted on our website in such an event.


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4.3

Bidding as Principal When making a bid (whether such bids are made in person or by way of telephone bids operated by Spink, commission or online or email bids), you will be deemed to be acting as principal and will be accepting personal liability, unless it has been agreed in writing, at the time of registration, that you are acting as agent on behalf of a third party buyer acceptable to us.

4.4

Commission Bids If you give us instructions to bid on your behalf, by using the form provided in our catalogues or via our website, we shall use reasonable endeavours to do so, provided these instructions are received not later than 24 hours before the auction. If we receive commission bids on a particular Lot for identical amounts, and at auction these bids are the highest bids for the Lot, it will be sold to the person whose bid was received first. Commission bids are undertaken subject to other commitments at the time of the sale, and the conduct of the auction may be such that we are unable to bid as requested. Since this is undertaken as a free service to prospective buyers on the terms stated, we cannot accept liability for failure to make a commission bid. You should therefore always attend personally if you wish to be certain of bidding.

4.5

On-line Bidding We offer internet services as a convenience to our clients. We will not be responsible for errors or failures to execute bids placed on the internet, including, without limitation, errors or failures caused by (i) a loss of internet connection by either party for whatever reason; (ii) a breakdown or problems with the online bidding software and/or (iii) a breakdown or problems with your internet connection, computer or system. Execution of on-line internet bids is a free service undertaken subject to other commitments at the time of the auction and we do not accept liability for failing to execute an online internet bid or for errors or omissions in connection with this activity.

4.6

Telephone Bids If you make arrangements with us not less than 24 hours before the sale, we shall use reasonable endeavours to contact you to enable you to participate in bidding by telephone, but in no circumstances will we be liable to either the Seller or you as a result of failure to do so.

4.7

Currency Converter At some auctions, a currency converter will be operated, based on the one month forward rates of exchange quoted to us by Barclays Bank Plc or any other appropriate rate determined by us, at opening on the date of the auction. Bidding will take place in a currency determined by us, which is usually sterling for auctions held in London. The currency converter is not always reliable, and errors may occur beyond our control either in the accuracy of the Lot number displayed on the converter, or the foreign currency equivalent of sterling bids. We shall not be liable to you for any loss suffered as a result of you following the currency converter.

4.8

Video images At some auctions there will be a video screen. Mistakes may occur in its operation, and we cannot be liable to you regarding either the correspondence of the image to the Lot being sold or the quality of the image as a reproduction of the original.

4.9

Bidding Increments Bidding generally opens below the low estimate and advances in the following order although the auctioneer may vary the bidding increments during the course of the auction. The normal bidding increments are: Up to £100 by £5 £100 to £300 by £10 £300 to £600 £320-£350-£380-£400 etc. £600 to £1,000 by £50 £1,000 to £3,000 by £100 £3,000 to £6,000 £3,200-£3,500-£3,800-£4,000 etc. £6,000 to £20,000 by £500 £20,000 and up Auctioneer’s discretion

4.10 Bidding by Spink 4.10.1 We reserve the right to bid on Lots on the Seller’s behalf up to the amount of the Reserve (if any), which will never be above the low estimate printed in the auction catalogue. 4.10.2 The Spink Group reserves the right to bid on and purchase Lots as principal. 4.11 The Auctioneer’s Discretion The auctioneer has the right at his absolute discretion to refuse any bid to advance the bidding in such manner as he may decide to withdraw or divide any Lot, to combine any two or more Lots and, in the case of error or dispute, to put an item up for bidding again. Spink Uni (07/11) (20)

5

4.12 Successful Bid Subject to the auctioneer’s discretion, the striking of his hammer marks the acceptance of the highest bid, provided always that such bid is higher than the Reserve (where applicable), and the conclusion of a contract for sale between you and the Seller. 4.13 After Sale Arrangements If you enter into any private sale agreements for any Lot with the Seller within 60 days of the auction, we, as exclusive agents of the Seller reserve the right to charge you the applicable Buyer’s Premium in accordance with these Terms and Conditions, and the Seller a commission in accordance with the terms of the Seller’s agreement. 4.14 Return of Lot Once your bid has been accepted for a Lot then you are liable to pay for that Lot in accordance with these Terms and Conditions. If there are any problems with a Lot then you must notify us within 7 days of receipt of the Lot, specifying the nature of the problem. We may then request that the Lot is returned to us for inspection. Save as set out in clause 5.13, the cancellation of the sale of any Lot and the refund of the corresponding purchase price is entirely at our sole discretion. We will not normally exercise that discretion if the Lot is not received by us in the same condition that it was in at the auction date. AFTER THE AUCTION 5.1 Buyer’s Premium In addition to the Hammer Price, you must pay us the Buyer’s Premium at a rate of 20% of the final Hammer Price of each Lot. 5.2 Value Added Tax Other than in respect of Zero-rated Lots (o) VAT is chargeable on the Hammer price and the Buyer’s premium of daggered (†) and (Ω) lots at the standard rate (currently 20%), and on lots marked (x) at the reduced rate (currently 5% on the Hammer price and 20% on the Buyer’s premium). VAT on Margin scheme lots (identified by the absence of any VAT symbol next to the lot number) is payable at 20% on the Buyer’s premium only. 5.3 VAT Refunds General 5.3.1 As we remain liable to account for VAT on all Lots unless they have been exported outside the EU within 3 months of the date of sale, you will generally be asked to deposit all amounts of VAT invoiced. However, if a Spink nominated shipper is instructed, then any refundable VAT will not be collected. In all other cases credits will be made when proof of export is provided. If you export the Lot yourself you must obtain shipping documents from the Shipping Department for which a charge of £50 will be made. 5.3.2 If you export the Lot you must return the valid proof of export certificate to us within 3 months of the date of sale. If you fail to return the proof of export certificate to us within such period and you have not already accounted to us for the VAT, you will be liable to us for the full amount of the VAT due on such Lot and we shall be entitled to invoice you for this sum. 5.3.3 To apply for a refund of any VAT paid, the proof of export certificate must be sent to our Shipping Department clearly marked ‘VAT Refund’ within 3 months of the date of sale. No payment will be made where the total amount of VAT refundable is less than £50 and Spink will charge £50 for each refund processed. VAT Refunds - Buyers from within the EU 5.3.4 VAT refunds are available on the Hammer Price and Buyer’s Premium of Daggered (†) and Investment Gold (g) Lots. You must certify that you are registered for VAT in another EU country and that the Lot is to be removed from the United Kingdom within 3 months of the date of sale. 5.3.5 Where an EU buyer purchases a Lot on which import VAT has been charged, no refund of VAT is available from us. It may be possible to apply directly for a refund on form VAT 65 to HM Revenue & Customs Overeseas Repayment Section, Londonderry. VAT Refunds – Buyers from outside the EU 5.3.6 Where a Lot is included within the Auctioneers’ Margin Scheme and evidence of export from the EU is produced within 3 months of the date of sale, the VAT on Buyer’s Premium may be refunded. 5.3.7 Where the Lot is marked as a Daggered (†) or Investment Gold (g) Lot the VAT charged on the Hammer Price may be refunded where evidence of export from the EU is produced within 3 months of the date of sale. A refund of VAT charged on the Buyer’s Premium can also be made on receipt of proof of business as a collectibles dealer. 5.3.8 Where the Lot is marked as an Omega (Ω) Lot or an Import VAT (x) Lot and evidence of export from the EU is produced within 3 months of the date of sale, the VAT charged on both the Hammer Price and Buyer’s Premium may be refunded. Where required, we can advise you on how to export such Lots as a specific form of export evidence is required. Where we advise you on the export of the Lots, please be aware that the ultimate responsibility in respect of obtaining a valid proof of export certificate will lie with you and we will not be responsible for your failure to obtain such certificate.


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Payment 5.4.1 You must provide us with your full name and permanent address and, if so requested, details of the bank from which any payments to us will be made. You must pay the full amount due (comprising the Hammer Price, the Buyer’s Premium and any applicable VAT) within seven days after the date of the sale. This applies even if you wish to export the Lot and an export licence is (or may be) required. 5.4.2 You will not acquire title to the Lot until all amounts due have been paid in full. This includes instances where special arrangements were made for release of Lot prior to full settlement. 5.4.3 Payment should be made in sterling by one of the following methods: II(i) Direct bank transfer to our account details of which are set out on the invoice. All bank charges shall be met by you. Please ensure that your client number is noted on the transfer. i(ii) By cheque or bank draft made payable to Spink and Son Ltd and sent to Spink at 69 Southampton Row, Bloomsbury, London WC1B 4ET. Please note that the processing charges for payments made by cheques or bank drafts drawn on a non-U.K bank shall be met by you. Please ensure that the remittance slip printed at the bottom of the invoice is enclosed with your payment. (iii) By Visa or Mastercard. A charge of 2% will be applied. Payments exceeding £5,000 can normally only be made by the card holder in person whilst on our premises. 5.4.4 Payments should be made by the registered buyer and not by third parties, unless it has been agreed at the time of registration that you are acting as an agent on behalf of a third party. 5.5 Invoices Invoices may consist of one or more pages and will show: Zero rated Lots (o); no symbol Lots sold under the Auctioneers’ Margin Scheme; Lots marked (g) special scheme Investment Gold; Daggered Lots (†), imported Lots marked (x) and (Ω), (e) Lots with Zero rated hammer for EU VAT registered buyers. 5.6 Collection of Purchases 5.6.1 Unless we specifically agree to the contrary, we shall retain items sold until all amounts due to us, or to the Spink Group, have been paid in full. 5.6.2 Unless we notify you to the contrary, items retained by us will be covered in accordance with our policy which is available for inspection at our offices from the date of sale for a period of seven days or until the time of collection, whichever is sooner. After seven days or from the time of collection, whichever is the earlier, the Lot will be entirely at your risk. 5.6.3 Our policy will not cover and we are unable to accept responsibility for damage caused by woodworm, changes in atmospheric conditions or acts of terrorism. 5.7 Notification We are not able to notify successful bidders by telephone. While Invoices are sent out by mail after the auction we do not accept responsibility for notifying you of the result of your bid. You are requested to contact us by telephone or in person as soon as possible after the auction to obtain details of the outcome of your bids to avoid incurring charges for late payment. 5.8 Packing and handling 5.8.1 We shall use all reasonable endeavours to take care when handling and packing a purchased Lot but remind you that after seven days or from the time of collection, whichever is sooner, the Lot is entirely at your risk. Our postage charges are set out at the back of the catalogue. 5.8.2 It is the responsibility of the Buyer to be aware of any Import Duties that may be incurred upon importation to the final destination. Spink will not accept return of any package in order to avoid these duties. The onus is also on the Buyer to be aware of any Customs import restrictions that prohibit the importation of certain collectibles. Spink will not accept return of the Lot(s) under these circumstances. Spink will not accept responsibility for Lot(s) seized or destroyed by Customs. 5.8.3 If the Buyer requires delivery of the Lot to an address other than the invoice address this will be carried out at the discretion of Spink. 5.9 Recommended packers and shippers If required our shipping department may arrange shipment as your agent. Although we may suggest carriers if specifically requested, our suggestions are made on the basis of our general experience of such parties in the past and we are not responsible to any person to whom we have made a recommendation for the acts or omissions of the third parties concerned. 5.10 Remedies for non-payment or failure to collect purchases 5.10.1 If you fail to make payment within seven days of your stipulated payment date set out in your invoice, we shall be entitled to exercise one or more of the following rights or remedies: 5.10.1.1 to charge interest at the rate of 2% per month compound interest, calculated on a daily basis, from the date the full amount is due;

5.4

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5.10.1.2 to set off against any amounts which the Spink Group may owe you in any other transaction the outstanding amount remaining unpaid by you; 5.10.1.3 we may keep hold of all or some of your Lots or other property in the possession of the Spink Group until you have paid all the amounts you owe us or the Spink Group, even if the unpaid amounts do not relate to those Lots or other property. Following fourteen days’ notice to you of the amount outstanding and remaining unpaid, the Spink Group shall have the right to arrange the sale of such Lots or other property. We shall apply the proceeds in discharge of the amount outstanding to us or the Spink Group, and pay any balance to you; 5.10.1.4 where several amounts are owed by you to the Spink Group in respect of different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not you so direct; 5.10.1.5 to reject at any future auction any bids made by you or on your behalf or obtain a deposit from you before accepting any bids. 5.10.2 If you fail to make payment within thirty-five days, we shall in addition be entitled: 5.10.2.1 to cancel the sale of the Lot or any other item sold to you at the same or any other auction; 5.10.2.2 to arrange a resale of the Lot, publicly or privately, and, if this results in a lower price being obtained, claim the balance from you together with all reasonable costs including a 20% seller’s commission, expenses, damages, legal fees, commissions and premiums of whatever kind associated with both sales or otherwise, incurred in connection with your failure to make payment; or 5.10.2.3 take any other appropriate action as we deem fit. 5.11 Failure to collect Where purchases are not collected within seven days after the sale, whether or not payment has been made, you will be required to pay a storage charge of £2 per item per day plus any additional handling cost that may apply. You will not be entitled to collect the Lot until all outstanding charges are met, together with payment of all other amounts due to us. 5.12 Export Licence 5.12.1 If required we can, at our discretion, advise you on the detailed provisions of the export licensing regulations. Where we advise you in relation to export licensing regulations the ultimate responsibility in respect of any export will lie with you and we will not be responsible for your failure to apply for any necessary licences. 5.12.2 If the Lot is going to be hand carried by you, you may be required to produce a valid export licence to us or sign a waiver document stating that a licence will be applied for. 5.12.3 You should always check whether an export licence is required before exporting. Export licences are usually obtained within two or three weeks but delays can occur. 5.12.4 Unless otherwise agreed by us in writing, the fact that you wish to apply for an export licence does not affect your obligation to make payment within seven days nor our right to charge interest on late payment. 5.12.5 If you request that we apply for an export licence on your behalf, we shall be entitled to recover from you our disbursements and out of pocket expenses in relation to such application, together with any relevant VAT. 5.12.6 We will not be obliged to rescind a sale nor to refund any interest or other expenses incurred by you where payment is made by you despite the fact that an export licence is required. 5.13 Refund in the case of Forgery 5.13.1 A sale will be cancelled, and the amount paid refunded to you if a Lot (other than a miscellaneous item not described in the catalogue) sold by us proves to have been a Forgery. We shall not however be obliged to refund any amounts if either (a) the catalogue description or saleroom notice at the auction date corresponded to the generally accepted opinion of scholars or experts at that time, or fairly indicated that there was a conflict of opinions, or (b) it can be demonstrated that the Lot is a Forgery only by means of either a scientific process not generally accepted for use until after publication of the catalogue or a process which at the date of the auction was unreasonably expensive or impracticable or likely to have caused damage to the Lot. Furthermore, you should note that this refund can be obtained only if the following conditions are met: 5.13.1.1 you must notify us in writing, within seven days of the receipt of the Lot(s), that in your view the Lot concerned is a Forgery; 5.13.1.2 you must then return the item to us within fourteen days from receipt of the Lot(s), in the same condition as at the auction date; and


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5.13.1.3 as soon as possible following return of the Lot, you must produce evidence satisfactory to us that the Lot is a Forgery and that you are able to transfer good title to us, free from any third party claims. 5.13.2 In no circumstances shall we be required to pay you any more than the amount paid by you for the Lot concerned and you shall have no claim for interest. 5.13.3 The benefit of this guarantee is not capable of being transferred, and is solely for the benefit of the person to whom the original invoice was made out by us in respect of the Lot when sold and who, since the sale, has remained the owner of the Lot without disposing of any interest in it to any third party. 5.13.4 We shall be entitled to rely on any scientific or other process to establish that the Lot is not a Forgery, whether or not such process was used or in use at the date of the auction. 6 LIABILITY Nothing in these Terms and Conditions limits or excludes our liability for: 6.1 death or personal injury resulting from negligence; or 6.2 any damage or liability incurred by you as a result of our fraud or fraudulent misrepresentation. 7 COPYRIGHT 7.1 We shall have the right (on a non-exclusive basis) to photograph, video or otherwise produce an image of the Lot. All rights in such an image will belong to us, and we shall have the right to use it in whatever way we see fit. 7.2 The copyright in all images, illustrations and written material relating to a Lot is and shall remain at all times our property and we shall have the right to use it in whatever way we see fit. You shall not use or allow anyone else to use such images, illustrations or written material without our prior written consent. 8 VAT You shall give us all relevant information about your VAT status and that of the Lot to ensure that the correct information is printed in the catalogues. Once printed, the information cannot be changed. If we incur any unforeseen cost or expense as a result of the information being incorrect, you will reimburse to us on demand the full amount incurred. 9 NOTICES All notices given under these Terms and Conditions may be served personally, sent by 1st class post, or faxed to the address given to the sender by the other party. Any notice sent by post will be deemed to have been received on the second working day after posting or, if the addressee is overseas, on the fifth working day after posting. Any notice sent by fax or served personally will be deemed to be delivered on the first working day following despatch. 10 ADDITIONAL PROVISIONS The following provisions of this clause 10 shall apply only if you are acting for the purposes of your business. 10.1 Limitation of Liability Subject to clause 6, we shall not be liable, whether in tort (including for negligence) or breach of statutory duty, contract, misrepresentation or otherwise for any: 10.1.1 loss of profits, loss of business, depletion of goodwill and/or similar losses, loss of anticipated savings, loss of goods, loss of contract, loss of use, loss of corruption of data or information; or 10.1.2 any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses. 10.2 Severability If any part of these Terms and Condition is found by any court to be invalid, illegal or unenforceable, that part may be discounted and the rest of the conditions shall continue to be valid and enforceable to the fullest extent permitted by law. 10.3 Force majeure We shall have no liability to you if we are prevented from, or delayed in performing, our obligations under these Terms and Conditions or from carrying on our business by acts, events, omissions or accidents beyond our reasonable control, including (without limitation) strikes, lock-outs or other industrial disputes (whether involving our workforce or the workforce of any other party), failure of a utility service or transport network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or default of suppliers or subcontractors. 10.4 Waiver 10.4.1 A waiver of any right under these Terms and Conditions is only effective if it is in writing and it applies only to the circumstances for which it is given. No failure or delay by a party in exercising any right or remedy under these Terms and Conditions or by law shall constitute a waiver of that (or any other) right or remedy, nor preclude or restrict its further exercise. No single or partial exercise of such right or remedy shall preclude or restrict the further exercise of that (or any other) right or remedy. 10.4.2 Unless specifically provided otherwise, rights arising under these Terms and Conditions are cumulative and do not exclude rights provided by law. Spink Uni (07/11) (20)

10.5 Law and Jurisdiction 10.5.1 These Terms and Conditions and any dispute or claim arising out of or in connection with them or their subject matter, shall be governed by, and construed in accordance with, the law of England and Wales. 10.5.2 The parties irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of, or in connection with, Terms and Conditions or their subject matter.

Postal Charges Prices for books (items sent by this method are not covered by insurance) Weight

UK

EU

Rest of the World

Up to 1kg

£8 for any weight

£12

£15

Up to 2kg

£8 for any weight

£18

£25

Prices for all other items including postage and packaging Invoice Value

UK

EU

Rest of the World

Up to £1,500

£10

£15

£20

Up to £10,000

£20

£30

£40

Above £10,001

£20

£50

£60

Shipments of more than 2kg or volumetric measurement of more than 2kg have to be sent by courier. Certain countries may incur extra charge when courier services are required by our insurance policy. For lots sent by courier please contact Auctionteam@spink.com for calculation of any further relevant cost in addition to the above charges. Value Added Tax (VAT) Charging of (VAT) at Auction The information shown on this page sets out the way in which Spink intends to account for VAT. i.

Auctioneers’ Margin Scheme 1. Where possible, we will offer Lots for sale under the Auctioneers’ Margin Scheme. Such Lots can be identified by the absence of any VAT symbol next to the Lot number in the catalogue and will not be subject to VAT on the Hammer Price. 2. Where Lots are sold using the Auctioneers’ Margin Scheme to VAT–registered businesses, the VAT included within the Buyers’ Premium is not recoverable as input tax. Upon request on sale day, we will issue invoices that show VAT separately on both the Hammer Price and the Buyer’s Premium. This will enable VAT-registered businesses to recover the VAT charged as input tax, subject to the normal rules for recovering input tax.

ii.

Zero-Rated Lots Limited Categories of goods, such as books, are Zero-rated (o) for VAT in the United Kingdom. Such Lots are offered under the Auctioneers’ Margin Scheme. In these circumstances no VAT will be added to the Buyer’s premium.

iii.

Daggered Lots Lots which are Daggered (†) in the catalogue are subject to VAT at 20% on both the Hammer Price and the Buyer’s Premium.

iv.

Starred and Omega Lots Lots which are marked (x) in the catalogue are subject to VAT at 5% on the Hammer price plus 20% on the Buyer’s premium. Lots which bear the Omega symbol (Ω) are subject to VAT at 20% on the Hammer Price and on the Buyer’s Premium. Such Lots bear VAT because the Lot is liable for VAT at this rate on importation into the EU.

v.

Investment Gold Lots Lots marked (g) in the catalogue are exempt from VAT on the Hammer Price and are subject to VAT at 20% on the Buyer’s Premium. A refund of VAT charged on the Buyer’s Premium can also be made on receipt of proof of business as a collectibles dealer.

vi.

Imported Lots Lots which are marked (x) and Lots which bear the Omega symbol (Ω) have VAT charged on the Hammer Price and Buyers’ Premium because they have been imported into the United Kingdom from outside the EU. In these cases we have used a temporary importation procedure, which in effect means that the point of importation is deferred until the Lot has been sold. At this point the Buyer is treated as the importer and is liable to pay the import VAT due. We will collect the VAT from you and pay it to HM Customs and Excise on your behalf.


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GROUP CHAIRMAN AND CEO Olivier D. Stocker YOUR SPECIALISTS STAMPS UK - Tim Hirsch Guy Croton David Parsons Nick Startup Neill Granger Paul Mathews Dominic Savastano Tom Smith USA - George Eveleth Richard Debney EUROPE - Guido Craveri Fernando Martínez CHINA - Anna Lee COINS UK - Mike Veissid Paul Dawson Richard Bishop William MacKay Eleanor Charlotte Dix Tim Robson Barbara Mears John Pett USA - Stephen Goldsmith Greg Cole Normand Pepin CHINA - Mark Li BANKNOTES, BONDS & SHARES UK - Barnaby Faull Mike Veissid Andrew Pattison USA - Stephen Goldsmith EUROPE - Peter Christen CHINA - Mark Li ORDERS, DECORATIONS, MEDALS & MILITARIA UK - Mark Quayle Oliver Pepys BOOKS UK - Philip Skingley Jennifer Mulholland AUTOGRAPHS USA - Stephen Goldsmith WINES CHINA - Anna Lee Guillaume Willk-Fabia YOUR EUROPE TEAM (LONDON - LUGANO) Chairman’s Office Monica Kruber Charles Blane Directors Tim Hirsch Anthony Spink Auction & Client Management Team Miroslava Adusei-Poku Eleanor Ball Luca Borgo Rita Ariete Dora Szigeti John Winchcombe Kenichiro Imase María Martínez Maurizio Schenini Finance Alison Bennet Marco Fiori Mina Bhagat Dennis Muriu Billy Tumelty Dean Dowdall IT & Administration Berdia Qamarauli Liz Cones Curlene Spencer Tom Robinson Cristina Dugoni Giacomo Canzi YOUR AMERICA TEAM (NEW YORK) Chairman Emeritus John Herzog Auction Administration and Marketing & Design Sonia Alves Luke Mitchell Finance & Administration Sam Qureshi Ingrid Qureshi Auctioneer Stephen Goldsmith

SALE CALENDAR 2013 STAMPS 10 21 22 22 23 23 24 13 14 14 15 11

September September September October October October October November November November November December

British East Africa and Uganda - The Award Winning Collections of George T. Krieger Stamps and Covers of South East Asia The Japanese Occupation Issues of South East Asia Bermuda - Dr. the Hon. David J. Saul Collection The Award Winning “Medina” Collection of India Part III Important British Empire Revenues The J. B. Bloom Collection of South Africa The Collector’s Series Sale The Robert Marion Collection of Mauritius Stamps and Postal History The “Lionheart” Collection of Great Britain and British Empire - Part II Postal History and Historical Documents Great Britain Stamps and Postal History

London Singapore Singapore London London London London London London London London London

13040 13030 13038 13045 13028 13041 13046 13043 13048 13049 13050 13044

North East Indian Coins from the Nick Rhodes Collection Indian, Islamic, British and Anglo-Gallic Coins and Commemorative Medals World Coins and Commemorative Medals The Collector’s Series Sale Ancient, British & Foreign Coins and Commemorative Medals

London London London New York London

13019 13014 13039 317 13015

World Banknotes The Ibrahim Salem Collection of African Banknotes Banknotes of Bermuda - Dr. the Hon. David J. Saul Collection The Collector’s Series Sale World Banknotes

London London London New York London

13018 13037 13047 317 13034

Orders, Decorations, Campaign Medals & Militaria

London

13003

The Collector’s Series Sale Bonds and Share Certificates of the World Bonds and Share Certificates of the World

New York Lugano London

317 SW1008 13017

The Collector’s Series Sale

New York

317

An Evening of Exceptional Wines

Singapore

SFW03

COINS 24 September 24/25 September 1 October 9/10 October 3 December

BANKNOTES 2/3 October 4 October 4 October 9/10 October 5 December

MEDALS 21 November

BONDS AND SHARES 9/10 October 19/21 October 28 November

AUTOGRAPHS 9/10 October

WINES 20 September

The above sale dates are subject to change

YOUR ASIA TEAM (HONG KONG - SINGAPORE) Vice Chairman Anna Lee Administration Amy Yung Newton Tsang Raymond Tat Gary Tan

Spink offers the following services: – VALUATIONS FOR INSURANCE AND PROBATE FOR INDIVIDUAL ITEMS OR WHOLE COLLECTIONS – – SALES ON A COMMISSION BASIS EITHER OF INDIVIDUAL PIECES OR WHOLE COLLECTIONS –


Spink 13037 cover 1st session:Layout 1

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THE IBRAHIM SALEM COLLECTION OF R

AFRICA

THE IBRAHIM SALEM COLLECTION OF AFRICA

R 4 OCTOBER 2013

69 Southampton Row, Bloomsbury, London WC1B 4ET www.spink.com

LONDON

© Copyright 2013

R

STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

4 OCTOBER 2013 R MORNING SESSION

LONDON


THE IBRAHIM SALEM COLLECTION OF AFRICA

Please use the link below to continue to Part 3 of the catalogue: http://issuu.com/spinkandson/docs/13037_3?e=2874488/4303952


The Ibrahim Salem Collection of African Banknotes 2