EAST AFRICA. East African Currency Board. 10,000 Shillings = 500 Pounds, 2.1.1939. P-32s. Specimen. PMG Choice Uncirculated 64.
The high denomination notes of British East Africa are the rarities that every collector longs for. Unfortunately, as is often the case, demand far outweighs supply and opportunities to acquire these notes are few and far between. Issued primarily for interbank transfers, the general population would never have seen these now iconic notes in everyday circulation. Due to the simple nature of their use they were typically withdrawn when no longer needed and since the issuing authority had a good idea where the issued pieces were held, it is no surprise that they are so rarely seen today. Not surprisingly, contemporary reports of the East Africa Currency Board show that all notes of this denomination were eventually redeemed when the denomination was withdrawn in the mid 1960s. Of the 10,000 Shillings or 500 Pounds King George VI, seen here in specimen format, it is believed that less than a handful issued notes are in existence, despite the statement by the EACB that all were redeemed. Specimens, such as the present example, are not much more available either. PMG has graded just five specimens of this issue of which this 1939-dated example is the sole finest (and just one of two that have been graded at the uncirculated level). This fresh and bright example features a printer's annotation in red on the front, but it is not distracting and merely adds to the character of this piece. The paper is crisp and the eye appeal is exceptional for the technical grade. A very important opportunity for the Commonwealth specialist to acquire this world-class rarity in top grade. PMG Comments "Printer's Annotations."
From the Mombasa Collection.

Estimate: $10000.00 - $12000.00