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Press Release - January 4, 2019

Ahead of its Time: The Minot Collection of African Notes Offered by Heritage at FUN

Private collection focused on top condition rarities and stunning eye appeal

Zanzibar Government 10 Rupees
DALLAS, Texas (Jan. 4, 2018) — The Minot Collection of rare African currency did three things right: It concentrated on key notes, it endeavored to purchase the best grades where possible, and it took a good look, amongst others, at African rarities.

The stellar collection will highlight Heritage Auctions' World Currency Auction during the Florida United Numismatists Jan. 10-14.

"Even though Africa is considered as the 'last frontier' within numismatics, it has made some strides of late, towards the right direction," said Dustin Johnston, Vice President of Currency Auctions. "The Minot Collection rightly recognized this.

"African banknotes have it all," Johnston continues. "They are aesthetically pleasing while boasting some real scarcities — with many overlooked as such. It is our opinion that this 'last frontier' it will not remain for much longer, as efforts such as the Minot Collection are shedding light on how satisfying this area of numismatics may be."

Zanzibar needs almost no introduction. This country saw a very short-lived introduction of its own currency, before being included into the East African Currency Board, and becoming part of Tanzania. It has already propelled itself to iconic status when World Currency is concerned. The Minot Collection 1928 Zanzibar Government 10 Rupees example is bright and issue free. It does not have the usual staining or rust. It is also the highest graded of only four examples on the PMG report and stands as a truly spectacular addition to any serious collection (est. $80,000-$10,000).

New Zealand 10 Shillings
A historically important New Zealand example from the first issue of the Reserve Bank. A stunning serial number 1 presented to the Secretary of the Treasury, A.D. Park. This note is the first 10 Shillings issued by the Reserve Bank of New Zealand. Apart from this, this issue boasts the always popular designs that include King Tawhiao and Kiwi on the face. There is no doubt that this example would make for the cornerstone of any New Zealand collection (est. $30,000-$50,000).

A grandly sized, highest denomination in an incredible grade, the sole finest example of the Bank of Ethiopia 500 Thalers represented a large amount of money, and was rarely kept, let alone in the pristine condition of the example for sale. This example is the top of the PMG population. A truly magnificent rendition of early African paper money. With no previous prices to rely upon, our estimate here may prove conservative (est. $5,000-$7,000).

An amazingly well designed Southern Rhodesian example is offered in immaculate condition. King George VI issues have started receiving deserved attention compared to Queen Elizabeth II issues. The one on offer is not only the highest graded note by Pick, but also by denomination (est. $3,000-$5,000). Clearly put, it is the best-preserved £1 on the PMG report for all graded £1 examples from Southern Rhodesia. One cannot imagine how it survived with its bright colors, and embossing so well intact, an offering that is unlikely to be bested anytime soon.

Additional highlights include:

· The only Uncirculated graded example in the PMG Population Report, a Libya Treasury 5 Pounds 1.1.1952, Pick 17, PMG Choice Uncirculated 64 (est. $8,000-$10,000)

· A rare, high-denomination note with a low serial number issued by the State Bank of Ethiopia, the 500 Dollars ND (1961) Pick 24a. PMG Gem Uncirculated 65 EPQ (est. $3,000-$5,000)

· The coveted 500 Francs Note from the Banque D'Emission Du Rwanda Et Du Burundi – an elusive African scarcity graded Choice Uncirculated 64 by PMG – is a lovely lilac-brown with a black rhinoceros on the face (est. $8,000-$10,000)

· From the Bank of Rhodesia and Nyasaland, a 10 Pounds 3.6.1960 Pick 23a, PMG, Choice Very Fine 35, is a rare piece of African history from an outdated territory, which was spilt into three independent countries of Malawi, Zambia and Zimbabwe.

To learn more about Jan. 10-14 auction schedule tied to the Florida United Numismatists Show, visit Heritage's Rare World Paper Money portal at

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, San Francisco, Chicago, Palm Beach, London, Paris, Geneva, Amsterdam and Hong Kong.

The Internet's most popular auction-house website,, has over one million registered bidder-members and searchable free archives of four million past auction records with prices realized, descriptions and enlargeable photos. Reproduction rights routinely granted to media for photo credit.

Eric Bradley, Director, Public Relations

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