Lebanese 250 Livres Among Elusive Treasures Offered in Heritage’s World Paper Money Auction

Zanzibar 5 rupees, Singapore $10,000 from Bird Series and Zimbabwe 100 trillion dollars also among March 26 event highlights DOWNLOAD DIGITAL PRESS KIT DALLAS, Texas (March 9, 2026) — An exceedingly rare example of the highest-denomination Lebanese banknote is among the treasures that will land in new collections once they are sold in Heritage’s March 26 World Paper Money Signature® Auction. The Lebanon Banque de Syrie et du Liban 250 Livres 1939 Pick 21 PMG Extremely Fine 40 offered in this auction is beyond elusive, even to the most serious collectors, an iconic rarity that rarely is seen in any grade. This was the only 250 Livres issue from the Banque de Syria et du Liban and the highest denomination issued in Lebanon until the rampant inflation in the 1970s and 1980s, the crowning denomination of the first 1939 series printed by the Bank of France. The denomination is five times higher than the next-highest in the series. It has been said that just 112,000 notes of this type were printed and issued, with virtually all being redeemed many decades ago. The one offered here is the second-finest of just eight examples graded in the PMG Population Report. The note is an unquestioned prize, but the auction is brimming with treasures for the most serious of collectors. “Collectors of banknotes from around the globe will find plenty in this auction that will make impressive additions to their collections,” says Dustin Johnston, Senior Vice President at Heritage Auctions. “Many of the lots in this auction are fresh, having been off the market for a long time. It includes extraordinary selections of exceptional banknotes from a number of countries, like Austria, Canada, Egypt, Germany, Russia and Costa Rica, many of which are the finest selections from those nations ever offered at Heritage.” Another prized note that holds a top spot on many collectors’ wish lists is an incredibly rare Zanzibar Government 5 Rupees 1.8.1916 Pick 2 PMG Choice Fine 15 Net. The nation’s notes that were issued between 1908 and 1928 are extremely scarce and exotic, and offer exceptional aesthetic appeal, thanks to one of the most famous of all banknote designs, which includes classic design elements and exquisite engravings by Waterlow & Sons that combine Arabic and East African cultures. The note was printed with three dates: 1908, 1916 and 1928, each of which is very rare. The note offered here is the 1916 variety, and it is only the second example ever offered at Heritage. Zanzibar notes were withdrawn beginning in 1936, subsequently replaced with East African and Tanzanian notes. One of the most visually captivating notes in the auction is a Singapore Board of Commissioners of Currency 10,000 Dollars ND (1980) Pick 17a TAN#B-9a PMG Choice Uncirculated 64 EPQ. Singapore’s $10,000 note was issued for about four decades, beginning in 1972. This incredible example is from the Bird Series, which was issued from the mid-1970s through the mid-1980s. The large size and attractive design elements of this note make it exceptionally popular among serious collectors, and the two sides of the note offer a “then and now” view of Singapore’s skyline and waterfront. Singapore’s remarkable ascent to become a financial powerhouse mirrors the incredible spending power of this massive note. The U.S. equivalent of $10,000 Singapore dollars is just over $7,900 USD and climbing. PMG has graded 290 examples of this incredible note, with only nine grading higher than the example offered in this auction. A Panama Banco Central de Emision 20 Balboas 1941 Pick 25s Specimen PMG Gem Uncirculated 66 EPQ comes from the highest denomination of the famous 1941 series, which was issued for just seven days during a political coup. After the coup, the victorious party suspended issuance and withdrew all issued notes, with all redeemed and unissued examples subsequently destroyed. The 20 Balboas is the rarest denomination of the series, with PMG having graded only 17 issued notes and 11 Specimen. This Specimen, from The Albert Field Hamilton Bank Note Co Collection, was printed by the Hamilton Bank Note Company and punch hole-cancelled. A large, rare Iran Kingdom of Persia, Imperial Bank 50 Tomans ND (1890-1923) Pick 7s Specimen PMG Choice Uncirculated 63, is a beautiful middle-denomination Specimen from the famed Imperial Bank of Persia. The bank actually was based in London, and its currency was backed by silver and gold coinage. This large-format note had serious spending power during its more than 30 years in circulation. PMG has graded a small total of issued notes and only 24 Specimen notes. Among the rarest of all World Paper Money notes are the Kingdom and Republic of Hawaii banknotes and their related Specimen, a population that includes a rare Hawaii Republic Of Hawaii, Department of Finance 20 Dollars 1895 (ND 1899) Pick 8s Specimen PMG Superb Gem Unc 67 EPQ. Three series of notes were issued from 1879 until approximately 1900, at which time currency of the United States replaced all local coins and notes. Because of the small population of the islands in the 19th century and the high value of these notes in contemporary terms, virtually all extant examples were redeemed. This large-format Specimen is from the second series of notes printed by the American Bank Note Company. Of this series, every $5 and $10 note, and all but two $20s (one of which is known), were redeemed. PMG has graded only two Specimen and just two Proofs. This example is the finer of the two graded examples in the PMG Population Report. Also offered is a beautiful example of a Costa Rica Banco Internacional de Costa Rica 2 Colones 10.3.1936 Pick 167 PMG Choice Uncirculated 64, which is referred to as the “Mona Lisa Note.” One of the world’s most famous and desirable banknotes is offered here in an astounding grade. It features Leonardo da Vinci’s Mona Lisa engraved by Waterlow & Sons on the front and a scene of a man and his cattle hauling lumber on the back. PMG has graded 117 examples of this banknote across all dates from 1931-36, of which just three grade Choice Uncirculated 64, with only three grading higher. From the same Central American nation comes a Republica de Costa Rica 1 Peso 2.1.1865 Pick 101a PMG Very Fine 20. Notes from the Costa Rican Republic dated 1865 and 1871 are extremely rare today, and the appeal of this fully issued example is increased by the presence of two manuscript signatures, serial numbers and a date. This example is the first ever offered at Heritage, and one of only a few graded in the PMG Population Report. Also in play is a remarkably rare Germany Imperial Treasury Note 50 Mark 10.1.1882 Pick 6 PMG Choice Very Fine 35 that is a beautiful example of the highest of three denominations issued in 1882. PMG has graded only four examples of this magnificent note, which is being offered at Heritage for the first time. Those who collect large-denomination notes will find it difficult to resist an exceedingly rare Zimbabwe Reserve Bank of Zimbabwe 100 Trillion Dollars 2008 Pick 91s Specimen PMG Gem Uncirculated 65 EPQ. The rarity of this infinitely popular Specimen-format ultra-high inflationary note is laid out in the PMG census, which lists 11,909 issued banknotes, 666 issued replacements and just five Specimen — including the one offered here. Images and information about all lots in the auction can be found at HA.com/4058. Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world's largest collectibles auctioneer. Heritage maintains offices in New York, Dallas, Beverly Hills, Chicago, Palm Beach, London, Paris, Amsterdam, Brussels, Hong Kong and Tokyo. Heritage also enjoys the highest Online traffic and dollar volume of any auction house on earth (source: SimilarWeb and Hiscox Report). The Internet's most popular auction-house website, HA.com, has more than 2 million registered bidder-members and searchable free archives of 7,000,000 past auction records with prices realized, descriptions and enlargeable photos. Reproduction rights routinely granted to media for photo credit. For breaking stories, follow us: HA.com/Facebook and HA.com/Twitter . Link to this release or view prior press releases . Hi-Res images available: Steve Lansdale, Public Relations Specialist 214-409-1699 or SteveL@HA.com