I always am interested in the oldest banknotes by country or continent. In our current sale we feature one of the oldest on a global basis from over six hundred years ago. The image appears dark and the oversized holder cloudy because of the fiber of the note.

Only the third example of what is considered one of the earliest collectible banknotes we have handled. While the printing of banknotes in China had been fairly well established at this point (Marco Polo was familiar with earlier issues), surviving notes dating prior to 1368 are extremely rare and can be considered non-collectible for all intents and purposes. The Ming dynasty notes are more available, thanks to a few groups that were found in the early 20th century. Most are seen in various states of conservation, but all examples are very collectible, and examples of this historic banknote are always in demand. This example retains strong eye-appeal, and the stains mentioned PMG are not distracting and very minimal and in our opinion should probably not even be mentioned. PMG mentions "Stains".

To read the complete lot description, see:
China / Ming Dynasty ND (1368-99) P-AA10 PMG Very Fine 30 1 Kuan(https://bid.worldbanknoteauctions.com/lots/view/4-C7WAZC/china-ming-dynasty-nd-1368-99-p-aa10-pmg-very-fine-30-1-kuan)

High denomination notes are also of interest as many were not intended to circulate in daily commerce but reserved for inter-bank or farmer payments. This high denomination Scottish note had only 1,000 in the print run for this small bank issuer. If this were a coin, its value would be in the mid five figures.

With a print run of just 1,000 notes, this high denomination from the Union Bank of Scotland is a rarity among the banknotes of Scotland. Not only was 100 Pounds a considerable amount of money shortly after World War II, the small print run meant that few people of the general public would ever see this denomination in commerce. It was reserved for larger transactions, and as a result, this denomination was printed infrequently at best.

Printed on handmade paper, this is a classic issue from this banking institution, which had opened its doors back in 1843 as the continuation of the Glasgow Union Banking Company. Less than a decade after this note was issued, in 1955, the company (at the time the second smallest banking institution in Scotland) was acquired by the Bank of Scotland and ceased to exist as an independent institution.

To read the complete lot description, see:
Scotland, Union Bank of Scotland Ltd. 18.2.1947 P-S814c PMG Choice Extremely Fine 45 EPQ 100 Pounds(https://bid.worldbanknoteauctions.com/lots/view/4-C7WBCM/scotland-union-bank-of-scotland-ltd-1821947-p-s814c-pmg-choice-extremely-fine-45-epq-100-pounds)

This month we also have a special session dedicated to Persian notes. Over the past 18 months Persian notes have become incredibly popular and the volume of notes at auction have increased along with their values.

For advanced Persian collectors who aim to collect the Toman notes across payable locations, many of the locations outside of Tehran are very hard to find, especially in issued form. We have a 20 Toman note payable on Meshed, a location that appears on the market very infrequently.

Payable at Meshed. An iconic denomination and type that is very rarely available in issued form. This is the first time we have been able to offer an issued note of this type and denomination, and a survey of publicly available auction records show precious few offerings of this type anywhere over the past decade. While some repairs are seen, they have certainly enhanced the appearance of this type, and the overall eye-appeal is excellent. This example is payable at Meshed, and dates to 1924. PCGS mentions "Multiple repairs, design redrawn".

To read the complete lot description, see:
Persia 11.12.1924 P-15 PCGS Choice Fine 15 DETAILS 20 Tomans(https://bid.worldbanknoteauctions.com/lots/view/4-C7W77U/persia-11121924-p-15-pcgs-choice-fine-15-details-20-tomans)

We have another issued note payable on a regional city, this one payable on Tabriz.

Payable at Tabriz. From the second series of the Imperial Bank of Persia and a piece that has the appearance of a nicer grade than the PCGS holder suggest. Strong color is seen, and the piece presents better than the majority of this type out there. Tabriz is a city in Northwestern Iran. PCGS mentions "Repairs"

To read the complete lot description, see:
Persia 1.9.1925 P-11 PCGS Very Fine 25 DETAILS 1 Toman(https://bid.worldbanknoteauctions.com/lots/view/4-C7W77O/persia-191925-p-11-pcgs-very-fine-25-details-1-toman)

The Persian Session also has several interesting specimens. For the color and portrait of Reza Shah Pahlavi, I like a seldom seen Thomas De La Rue specimen of a 10,000 Rials from 1938.

Only the third example of this scarce specimen that we have been able to handle. Light (mis)handling is seen, but the note is otherwise fully original with excellent eye-appeal.

To read the complete lot description, see:
Iran ND (1938) / AH1317 P-38Cs PMG About UNC 55 EPQ 10,000 Rials (Specimen)(https://bid.worldbanknoteauctions.com/lots/view/4-C7W79O/iran-nd-1938-ah1317-p-38cs-pmg-about-unc-55-epq-10-000-rials-specimen)