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 Replies: 9 / Views: 3,870 |
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New Member
Sweden
47 Posts |
I was just wondering if this note in the picture have any value? I can't seem to find it anywhere on Google more than a picture in a blog There is some inc-stains and the inc is a bit faded but you can see "57" when zooming in Is this issue 1846-54 or 1853-55?   Regards |
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Pillar of the Community
United States
992 Posts |
You have a Bank of Bombay Ten Rupee note, predating the national currency of British India. It is catalogued in Krause "World Paper Money, Specialized Issues" as No. S316, with issue dates of either February 1, 1858, or March 22, 1858. Your note is dated 1857, so it predates the catalog specimen. Your note is unsigned, and therefore unissued, by the bank. It is a uniface note, the back should be blank. It is noted in the catalogue as "Rare" in all grades. I would grade the note as a nice 'Fine', or even "Fine-Very Fine", with three vertical folds and one horizontal fold. The colors are not rich, but the paper is entire and looks sound, with no holes or tearing.
Get thee to a coin shop TODAY, and place the note in a mylar currency holder to protect it. Do not take it with you, you might damage it. Then get some good photos of the note in the holder, and get it graded professionally by PCGS or another currency grading and authenticating firm. Do not iron the note, wash it, or do anything to it, other than place it in a protective holder.
I won't hazard a value, but the lowest priced Bank of Bombay note in my old Specialized catalogue is $300 in Fine condition, and a notation of 'Rare' indicates there is no established market value for a specimen, that is determined by actual sale of the individual notes when encountered.
You're going to have to spend some money having the note authenticated, graded, appraisal, and shopped around for auction, as well as secure registered post. Depending on appraisal value, you may want to have it insured until it leaves your hands via sale.
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Pillar of the Community
United States
992 Posts |
Just to add, you seem to have a rarity here. Hopefully other forum members who know some of the people who handle these kind of things will chime in and get you some contact data so you can begin dealing with what you have.
Whatever you do, don't sell to the first offer, or the second, if any. Don't handle it outside of the mylar holder, and don't show it off to friends until you get it appraised and insured.
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New Member
 Sweden
47 Posts |
Thanks paxbrit, I'll do as you say and place it in a temporary protective holder until I read up on PCGS and how to submit it. A while back I was looking to submit some coins for grading but I never got it done, it would be nice to try it out though. This came as a chock, I did not expect any at all in this state, but when I didn't find it on Google/ebay I got curious. I tried to find it in PMGs database, is this the right one?: Quote:Bombay town hall at upper center, statues of standing Elphinstone at left, Malcolm at right, starburst at top center. Bombay arms at bottom center. Native text in four border quadrants. http://www.pmgnotes.com/priceguide/...bcat=1859-60 I also find this very interesting, I found the same type of note, with the same year and only 2000~ difference in the serial number and maybe not so far apart when it comes to the condition? From an auction mid 2014, page 21: Quote:Exceedingly rare Bank of Bombay Note! Lot# N5: East India Company, Bank of Bombay, 10 Rupees, Dated 2nd March 1857, serial number No. 80981 two times in centre, Razack-Jhunjhunwalla Cat. No. 1B.1.2.1, Mt Stuart Eliphinstone to the left and Sir John Malcolm to the right (ex-governors of Madras), A note from the year of Sepoy Motiny (1857). Missing from 90% collections or museums, very rare currency note indeed!
Estimate: Rs. 6,00,000-7,00,000 https://drive.google.com/viewerng/v...Q2ZGUyYjU4Nw I would appreciate some guidance what to do after its been returned after grading (if everything goes well...) |
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Pillar of the Community
United States
992 Posts |
That's the same note as on the PMG site. PMG is another grading service you could go to. I think they are the most respected outfit doing this.
I don't often get to see rare notes, let alone handle them, so any advice I could give as to selling would not be as good as it could be. I think PMG may be able to give you some referrals.
I note that the PMG value and the estimated value in rupees in the auction listing differ by a magnitude of five, so take your time shopping it around.
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New Member
Sweden
47 Posts |
The note is now on its way to PMG, the wait begins and with all the holydays here now it won't leave Sweden before 7th Jan :(
I have also had contact with an auctioneer about this note, somewhat a specialist when it comes to Indian notes and he is sure the market value will lie between US$ 8,000-9,000.
That's just baffling to me, in this condition, I will be glad if it passes 8-10 on the scale.
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Pillar of the Community
United States
992 Posts |
Good for you, glad you're taking care of it.
Looks like a Happy New Year is coming up for you!
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Pillar of the Community
United States
1247 Posts |
Just to make something clear.. when I looked at the pictures of this note, it appears signed to me.. the ink has obviously faded, but has signatures in the right places.
What am I missing?
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New Member
Sweden
47 Posts |
Yes your right, this is a issued note, the ink has just faded. I was about to say that earlier when it came up in paxbrit´s post, but forgot it
"Bank of Bombay, 1857, 10 Rupees, Type 3, Serial Number 83105, Issued note, Manuscript serial number in red in Devanagri script, hand signed but faded."
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Pillar of the Community
United States
992 Posts |
You're right, I missed the faded ink there, was looking at the 1857 date.
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Replies: 9 / Views: 3,870 |
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Posted 12/23/2014 5:38 pm
