Reserve Bank of New Zealand. 1.8.1934, 50 Pounds. P-157. PMG Choice Extremely Fine 45 EPQ.

Currency:USD Category:Coins & Paper Money Start Price:1,500.00 USD Estimated At:3,000.00 - 5,000.00 USD
Reserve Bank of New Zealand. 1.8.1934, 50 Pounds. P-157. PMG Choice Extremely Fine 45 EPQ.
22,000.00USDto n******n+ (4,400.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2019 Mar 29 @ 18:02UTC-4 : AST/EDT
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T block. An exceptional rarity and one of the most important pieces within the Chambliss holdings. These 1934 series 50 Pounds notes are downright rare in any state of preservation and a total issuance of just 52,000 cements that statement. This denomination was rarely seen in public transactions as the high face value was equal to roughly $160 USD during their circulation period. We estimate roughly a few dozen of these to be known and public offerings are extremely seldom as serious collectors often seek private transactions for notes of this rarity. The quality interestingly is quite low on average for those known by us with Fine to Very Fine material being the norm. The design follows the others of the series with a Kiwi at left, arms in center and Tawhaio Te Wherowhero at right. An attractive red color was selected and caused a bit of confusion with the red-orange 10 Shillings note of the same series. That similarity was not encountered a great deal however as the general public seldom saw or used this higher denomination.

PMG has graded a scant five notes on the catalog number and four of that total top out at a Very Fine 30 level with none of that quartet obtaining a desirable "EPQ" designation. This Choice Extremely Fine 45 EPQ note stands alone at the top of their report and is certainly among the absolute finest known by us. It is simply a visual treat with just subtle circulation in the form of a typical tri-fold, originality that is easily confirmed looking through the holder and color and detail that is magnificent. The centering is also remarkable with terrific registration of the face and back impressions to one another. The embossing of the entire design is pronounced and the under-printed color in all respects is vibrant. A true rarity and a note that will be a highlight within any collection it enters.