RARE banknotes dating back to 1920s Southeast Asia have sold by a Lichfield auctioneer for thousands of pounds.
The currency from Borneo and the Straits Settlements had been stored in a Midlands garage for five years before going under the hammer with Richard Winterton Auctioneers.
Printed in the 1920s, 1930s and 1940s, the collection totalled £7,950 across three sales this month.
They were initially collected by a West Bromwich man who bequeathed them to his nephew, an unnamed 60-year-old from Pelsall.
The seller said:
“My uncle meant a lot to me. He was a good man and this is not so much about the money, but his legacy.
“I don’t know if he knew what he’d got in terms of value – I certainly didn’t know they were worth anything. After he passed away in 2018 in his late 70s, I kept them in my garage for five years.
“My uncle used to collect all sorts of things with the intention of passing them to me.
“The sale has gone way beyond our expectations and I’m really chuffed – it’s so nice for my uncle’s memory.”
Highlights included a rare British North Borneo Company $5 banknote from 1922 which sold for £900. Five British North Borneo Company Sandakan 50 cents banknotes sold at £500 and a Government of the Straits Settlements $1 banknote from 1930 made £380.
A parcel of £800 Sarawak 1935 $1 banknotes made £800, while a bundle including five Straits Settlements $1 banknotes and three Sarawak 10 cent notes sold for £560.
Specialist Phil Bridge put in about 20 hours of research on the notes before the sale. He said:
“I have seen some similar banknotes before but they are few and far between – many will have been lost due to the war and the passing of time.
“Some weren’t in the best condition, but that doesn’t seem to have made a difference at auction. That speaks as to how rare they are.
“That rarity combined with an international audience has led to some excellent results at auction.
“I’m very pleased for our vendor. He didn’t know anything about these notes and thought it was wise to check whether they were worth anything.
“He’s held on to them for a number of years and has now had a nice surprise.”
Auctioneer Richard Winterton added:
“We had a huge number of bidders online all trying to get in on this wonderful collection, which featured in three auctions.
“This job required very specialist knowledge and diligence. Well done to Phil for his tireless research and attention to detail, which has led to very impressive results at auction for our client.
“It has been a pleasure to handle the successful sale of this collection.”
