The Bruce Smart Collection of Middle East and North Africa - 16037 by Spink and Son

£25

 THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA



LONDON

69 Southampton Row, Bloomsbury, London WC1B 4ET www.spink.com

12 APRIL 2016



STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

12 APRIL 2016

GROUP CHAIRMAN AND CEO Olivier D. Stocker

SALE CALENDAR 2016

YOUR SPECIALISTS STAMPS UK - Tim Hirsch FRPSL Guy Croton David Parsons Nick Startup Neill Granger Paul Mathews Dominic Savastano Tom Smith George James Ian Shapiro (Consultant) USA - George Eveleth Richard Debney EUROPE - Guido Craveri Fernando Martínez CHINA - Doris Lo George Yue (Consultant) COINS UK - Richard Bishop Tim Robson Malene Wagner Lawrence Sinclair Barbara Mears John Pett USA - Greg Cole Muriel Eymery Stephen Goldsmith (Special Consultant) CHINA - Kin Choi Cheung Paul Pei Po Chow BANKNOTES UK - Barnaby Faull Andrew Pattison Monica Kruber Thomasina Smith USA - Greg Cole Stephen Goldsmith (Special Consultant) CHINA - Kelvin Cheung Paul Pei Po Chow ORDERS, DECORATIONS, MEDALS & MILITARIA UK - Mark Quayle Oliver Pepys John Hayward (Consultant) BONDS & SHARES UK - Mike Veissid (Consultant) Andrew Pattison Thomasina Smith USA - Greg Cole EUROPE - Peter Christen CHINA - Kelvin Cheung BOOKS UK - Philip Skingley Michael Hyman Nik von Uexkull AUTOGRAPHS USA - Greg Cole Stephen Goldsmith (Special Consultant) WINES CHINA - Guillaume Willk-Fabia Angie Ihlo Fung YOUR EUROPE TEAM (LONDON - LUGANO) Directors Tim Hirsch Anthony Spink Auction & Client Management Team Mira Adusei-Poku Rita Ariete Grace Hawkins Dora Szigeti Tatyana Boyadzhieva Nik von Uexkull John Winchcombe Maurizio Schenini Finance Alison Bennet Marco Fiori Mina Bhagat Dennis Muriu Hemel Thakore Veronica Morris IT & Administration Berdia Qamarauli Michael Addo Liz Cones Curlene Spencer Tom Robinson Cristina Dugoni Giacomo Canzi YOUR AMERICA TEAM (NEW YORK) Managing Director Charles Blane Auction Administration and Marketing & Design Polona Hribovsek Finance & Administration Amit Ramprashad

STAMPS 23 February 23 February 24 February 27-28 April May June 11 June 22 June 6-7 July 13 July

22 March 22 March 22/23 March 7 April 12 May 22/23 June 29 June 29/30 June 25 August

16038 16024 16023 16027 154 155 CSS18 16029 16030 16043

The Academic Collection of Lord Stewartby: English Coins part 1, Anglo-Saxon and Norman Coins The Dr Paul Broughton Collection of English Hammered Gold Coins Ancient, British & Foreign Coins and Commemorative Medals The Numismatic Collector’s Series Sale Ancient and World Coins including European Coins from the Peter Woodhead Collection The Numismatic Collector’s Series Sale The Academic Collection of Lord Stewartby: English coins part 2, Plantagenet, Lancastrian and Yorkist Coins Ancient, British & Foreign Coins and Commemorative Medals The Numismatic Collector’s Series Sale

London London London Hong Kong London New York

16019 16014 16004 CSS21 16042 324

London London Hong Kong

16020 16005 CSS23

The Numismatic Collector’s Series Sale The Bruce Smart Collection of Middle East and North Africa World Banknotes The Numismatic Collector’s Series Sale World Banknotes The Numismatic Collector’s Series Sale

Hong Kong London London New York London Hong Kong

CSS21 16037 16008 324 16009 CSS23

Orders, Decorations, Campaign Medals & Militaria Orders, Decorations, Campaign Medals & Militaria

London London

16001 16002

The Numismatic Collector’s Series Sale Bonds & Share Certificates of the World The Numismatic Collector’s Series Sale The Numismatic Collector’s Series Sale

Hong Kong London New York Hong Kong

CSS21 16017 324 CSS23

The Numismatic Collector’s Series Sale Autographs, Historical Documents, Ephemera and Postal History

New York London

324 16043

An Evening of Great Whiskies and Spirits An Evening of Great Whiskies and Spirits

Hong Kong Hong Kong

SFW19 SFW20

BANKNOTES 7 April 12 April 12/13/14 April 22/23 June 5 July 25 August MEDALS 21 April 21 July BONDS & SHARES 7 April 20 May 22/23 June 25 August AUTOGRAPHS 22/23 June 13 July WINES

YOUR ASIA TEAM (HONG KONG - SINGAPORE)

8 April 23 June

The above sale dates are subject to change Ken Imase kimase@spink.com

London London London London New York New York Hong Kong London London London

COINS

Auctioneer Stephen Goldsmith (Special Consultant) Administration Angie Ihlo Fung Newton Tsang Sue Pui Arthur Chan Doris Lo Gary Tan

The Drs. Joanne and Edward Dauer Collection of Australian States and Commonwealth The “Britannia” Collection of Barbados India, The De La Rue Issues The Philatelic Collector’s Series Sale The Pre-New York 2016 Collector’s Series Sale The Jose Castillejo Collection of Guatemala, 1871-86 The Philatelic Collector’s Series Sale Great Britain Stamps and Postal History The Philatelic Collector’s Series Sale Autographs, Historical Documents, Ephemera and Postal History

Spink offers the following services: – VALUATIONS FOR INSURANCE AND PROBATE FOR INDIVIDUAL ITEMS OR WHOLE COLLECTIONS – – SALES ON A COMMISSION BASIS EITHER OF INDIVIDUAL PIECES OR WHOLE COLLECTIONS –

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA 12 April 2016 in London and on *

and/or SALE LOCATION

YOUR SPINK TEAM FOR THIS SALE

SPINK LONDON 69 Southampton Row, Bloomsbury London WC1B 4ET tel +44 (0)20 7563 4000 fax +44 (0)20 7563 4066 Vat No: GB 791627108

FOR YOUR QUESTIONS ABOUT THE SALE LOTS

Andrew Pattison apattison@spink.com +44 (0)20 7563 4044

SALE DETAILS Tuesday 12 April 2016 at 2.00 p.m. (Lots 1-195) In sending commission bids or making enquiries, this sale should be referred to as FELUCCA - 16037

At Spink London Monday 11 April 2016 10.00 a.m. - 5.00 p.m. Tuesday 12 April 2016 10.00 a.m. - 1.00 p.m. All other times by appointment This entire sale, including the front and back of many notes, is also available to view electronically, please contact Andrew Pattison for more details

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Monica Kruber mkruber@spink.com +44 (0)20 7563 4084 Thomasina Smith tbsmith@spink.com +44 (0)20 7563 4095

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*Spink is pleased to continue to offer our brand new on-line bidding platform Spink Live for no charge through www.spink.com. Please note that bidders who acquire lots on the-saleroom.com will have a fee of 3% on the hammer price added to their invoice for using this facility. Please use the QR code to visit our website, view our catalogues and other publications and place commission bids. You can download the QR Code Reader for iPhone, Blackberry and Android from App Store on your smartphone.

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Front Cover Illustration: 27 (detail) Back Cover Illustrations: 155, 12, 89

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THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

FOREWORD One of the first collectors I remember talking to at paper money shows when I started at Spink was Bruce Smart. He struck me as engaging and extremely knowledgeable, and seemed genuinely pleased to see someone new entering the business. Bruce imparts this knowledge freely and in good humour, and it has been a pleasure getting to know him over the last few years. His collection of Middle East and North Africa is a testament to his hard work and dedication to finding only the very best of what a country has to offer. Working at Spink here in London, we see a lot of banknotes, and regularly handle some very impressive collections. However, when cataloguing Bruceâ&#x20AC;&#x2122;s Middle East and North Africa notes, I was consistently amazed by the quality of the material he has acquired. This quality is what really sets it apart from other collections. Wherever possible Bruce has bought issued notes, and always in original condition. Some of these are rare in any grade, for example his 1899 Egypt 50 piastres with Palmer signature, of which only a handful are known. Others are hugely popular modern rarities, such the Qatar & Dubai 25 riyals shown below, and the perfectly uncirculated 500 riyals from the Qatari series which followed it. Bruce clearly has a passion for notes printed by Bradbury Wilkinson and the other British printers. It seems quite poetic that these notes, most of which were printed only a few miles away, have come back together here to be sold by Spink. We have had a lot of fun, and learned a great deal, while putting this catalogue together and we hope you enjoy reading it just as much. We hope to see many of you at the sale, and for the many of you who will be bidding, we wish you the best of luck on the day. Andrew, Barnaby, Monica and Thomasina

Lot 146

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April 12, 2016 - LONDON

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA BANKNOTES FOREWORD Any collector rues the day when he has to part with his collection, and this day has arrived for me. I vowed when I turned 70 that I would begin to pass on my collection to others through auction, and todayâ&#x20AC;&#x2122;s Spink sale is the first round for the dissemination of my collection. I began collecting world notes almost 20 years ago and initially focused on Egypt because of my interest in the history of Africa. The marvelous engravings, the vignettes evocative of ancient Egypt, and the wonderful earth tones characteristic of Bradbury-Wilkinson printings had special appeal. I then turned to the 1939 issues of Lebanon and Syria, again because of the Bradbury-Wilkinson printings. Eventually, my collection spread to other North Africa and Middle East banknotes but mainly encompassed ones produced by British banknote printers. With a few notable exceptions, I restricted my collecting to notes issued prior to 1970. Like many naĂŻve beginning collectors, I desired to find every note in uncirculated condition or nearly so, but quickly learned that this was impossible. Nonetheless, I have always strived to collect original, better grade issued notes. Even so, it sometimes was necessary to compromise on condition when seeking rarer notes. My proceeds from this auction will be donated to an animal welfare charity in Wilmington, Delaware. This charity is dedicated to finding good homes for dogs, and cats, and has been supported by the Smart family since we moved to Delaware in 1970 to begin my career with the DuPont Co. My wife (R.I.P.) and I raised two bulldogs and two bullmastiffs over the years, and the photo here depicts my first bullmastiff, Max, and me before the sun bleached my hair. I wish the bidders success, and I feel assured that my notes will find good homes.

Bruce Smart Wilmington, DE USA

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

ORDER OF SALE AFGHANISTAN EGYPT IRAQ ISRAEL JORDAN KUWAIT LEBANON LIBYA

1-11 12-84 85-103 104 105-113 114-119 120-126 127-137

MUSCAT AND OMAN PALESTINE QATAR & DUBAI QATAR SAUDI ARABIA SUDAN SYRIA YEMEN

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138 139-142 143-148 149-155 156-163 164-173 174-192 193-195

April 12, 2016 - LONDON

TUESDAY 12 APRIL 2016 Commencing at 2.00 p.m. (Lots 1-195) All Sales are subject to the Terms and Conditions for Buyers printed at the back of this catalogue. Please note that bidders who acquire lots on the-saleroom.com will have a fee of 3% on the hammer price added to their invoice for using this facility. Spink is pleased to continue to offer our brand new on-line bidding platform Spink Live for no charge through www.spink.com. Estimates The estimated selling price of each lot is printed below the lot description and does not include the Buyer’s Premium. Bidders should bear in mind that estimates are prepared well in advance of the sale and are not definitive. They are subject to revision.

AFGHANISTAN

x3 Afghanistan Ministry of Finance, 100 afghanis, 1936, no serial numbers, purple and green on multicolour underprint, Independence Monument at right, arms at left, value at each corner (Pick 20, TBB B207), uncirculated, scarce in this grade £250-300

x1 Afghanistan Ministry of Finance, 5 and 20 afghanis, 1936, no serial numbers, red and brown respectively on multicolour underprints, Independence Monument at right, arms at left, value at top left and right (Pick 16, 18, TBB B202, 205), uncirculated (2) £100-150

x4 Afghanistan Ministry of Finance, 10 afghanis, ND (1936), serial number 1173425, brown on multicolour underprint, Independence Monument at right, arms at left, value at top left and right (Pick 17A, TBB B210), in PMG holder 64EPQ, choice uncirculated, the much rarer type with full serial number and altered text at centre, scarce £250-350

x2 Afghanistan Ministry of Finance, 50 afghanis, 1936, no serial numbers, blue-green on multicolour underprint, Independence Monument at right, arms at left, value at top left and right (Pick 19, TBB B206), several paper inclusions at left, clearly present during production, uncirculated £200-250

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x5 Da Afghanistan Bank, 2, 5, 10, 50 and 100 afghanis, 1318 (1939), brown, green, red-brown, blue and olive green respectively, all with King Muhammad Zahir at right, value at each corner (Pick 21, 22, 23, 25, 26, TBB B301, 302, 303, 305, 306), last about uncirculated, others uncirculated, completely original (5) ÂŁ300-400

x6 Da Afghanistan Bank, 20 afghanis, 1318 (1939), serial number 420608, violet on multicolour underprint, King Muhammad Zahir at right, value at each corner, reverse with river valley at centre, values at each corner (Pick 24, TBB B304), in PMG holder 55EPQ, about uncirculated, central fold but completely original, thus extremely rare, and arguably the key note for the entire country ÂŁ2,500-4,500

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April 12, 2016 - LONDON

x7 Da Afghanistan Bank, cancelled 20 afghanis, 1318 (1939), serial number 386895, violet on multicolour underprint, King Muhammad Zahir at right, value at each corner, reverse with river valley at centre, values at each corner (Pick 24, TBB B304), pinhole at each corner, cancelled with a hand drawn ink cross on obverse, teller stamp on reverse with what appears to be a tick and signature, otherwise uncirculated and extremely rare ÂŁ1,500-2,000

x8 Da Afghanistan Bank, 500 afghanis, 1318 (1939), serial number 024222, purple on multicolour underprint, King Muhammad Zahir at top left, value at each corner, reverse Blue Mosque in Mazari Sharif at centre, values at each corner (Pick 27, TBB B307), in PMG holder 64, tiny spot in margin on reverse accounting for lack of EPQ, but wonderfully embossed, completely original, scarce in such high grade ÂŁ1,500-2,000 7

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x9 Da Afghanistan Bank, 1000 afghanis, 1318 (1939), serial number 091581, brown on multicolour underprint, King Muhammad Zahir at centre, value at each corner, reverse city skyline and mountains at centre, values at each corner (Pick 27A, TBB B308), in PMG holder 65EPQ, gem uncirculated, wonderfully embossed, completely original and rare in such high grade £2,000-2,500

x10 Da Afghanistan Bank, 500 afghanis, 1327 (1948), serial number 027550, blue-green on multicolour underprint, King Muhammad Zahir at left, value at each corner, reverse Blue Mosque in Mazari Sharif at centre, values at each corner, also 5 and 20 afghanis, 1948 and 1957, black and blue respectively (Pick 35a, 28a, 31d, TBB B317, 309a, 313d), uncirculated, with the 500 a PMG 66EPQ, very scarce in this grade (3) £800-1,200

x11 Da Afghanistan Bank, 1000 afghanis, 1327 (1948), serial number 021045, brown on multicolour underprint, King Muhammad Zahir at top left, value at each corner, reverse city skyline and mountains at centre, values at each corner (Pick 36, TBB B318), original and fresh, in PMG holder 67EPQ, superb gem uncirculated and scarce in such high grade £600-800

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THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

EGYPT A Superb 50 Piastres Signed by Palmer

x12 National Bank of Egypt, 50 piastres, 1 January 1899, serial number A/1 002907, black on pink and green underprint, the Sphinx at centre, value at centre and at each corner, reverse green, value at left and right, Palmer signature (Pick 1a), no graffiti, in PMG holder 25, very fine, and the much scarcer Palmer signature, extremely rare and probably the nicest example we have seen at Spink, superb ÂŁ15,000-20,000

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April 12, 2016 - LONDON

x13 National Bank of Egypt, printers archival specimen ÂŁ50, 16 January 1906, serial number F/2 10001-F/2 15000, black, pale orange and pale red, the temple at Philae at left, value right centre and at left and right, reverse blue, values at centre, perforated SPECIMEN (Pick 5s), mounting traces, in PMG holder 64, choice uncirculated and a lovely note, very rare ÂŁ6,000-8,000

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x14 National Bank of Egypt, 25 piastres, 11 August 1917, serial number L/7 063,015, brown on multicolour underprint, Nile waterfront scene with boats and camel at centre, value at centre and each corner, reverse blue on orange and light blue underprint, Rowlatt signature (Pick 10a), in PMG holder 64, choice uncirculated and absolutely superb, extremely rare with this early date and in this condition £1,800-2,200

x15 National Bank of Egypt, 25 piastres, 6 June 1940, serial number L/61 001128, brown on multicolour underprint, Nile waterfront scene with boats and camel at centre, value at centre and each corner, reverse blue on orange and light blue underprint, Cook signature (Pick 10b), the first of only two prefixes signed by Cook, in PMG holder 30, good very fine, very rare in any grade £500-700

x16 National Bank of Egypt, 25 piastres, 7 June 1940, serial number L/62 362448, brown on multicolour underprint, Nile waterfront scene with boats and camel at centre, value at centre and each corner, reverse blue on orange and light blue underprint, Cook signature (Pick 10b), the second of only two prefixes signed by Cook, in PMG holder 30, fresh and original good very fine, rare in any grade and this a very nice example £800-1,000

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April 12, 2016 - LONDON

x17 National Bank of Egypt, 25 piastres (2), 19 December 1940 and 15 June 1950, prefixes L/64 and L/104, brown on multicolour underprint, Nile waterfront scene with boats and camel at centre, value at centre and each corner, reverse blue on orange and light blue underprint, Nixon and Leith-Ross signatures respectively (Pick 10c, 10d), both perfectly original, in PMG holders 65EPQ and 64, gem uncirculated and choice uncirculated, becoming very scarce in high grades (2) £700-900

x19 National Bank of Egypt, printers archival specimen 50 piastres, 28 January 1915, serial number range Q/18 000001-Q/18 100000, brown on multicolour underprint, Sphinx at left, reverse blue on multicolour, value at centre, left and right, perforated CANCELLED (Pick 11s), minor evidence of mounting, ink date 29.1.15, in PMG holder 64, choice uncirculated £800-1,200

x20 National Bank of Egypt, 50 piastres, 6 February 1916, serial number Q/46 028,570, brown on multicolour underprint, Sphinx at left, reverse blue on multicolour, value at centre, left and right (Pick 11), in PMG holder 30, good very fine and rare £700-900

x18 National Bank of Egypt, 25 piastres (3), 16th, 22nd and 23rd May 1951, prefixes L/110, L/110 and L/116, brown on multicolour underprint, Nile waterfront scene with boats and camel at centre, value at centre and each corner, reverse blue on orange and light blue underprint, Saad signatures (Pick 10e, 10f), first with English serials, others with Arabic serials, in PMG holders 66EPQ, 64 and 66EPQ, uncirculated (3) £400-600

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x21 National Bank of Egypt, 50 piastres, 15 March 1917, serial number P/5 049,225, brown on multicolour underprint, Sphinx at left, reverse blue on multicolour, value at centre, left and right (Pick 11), in PMG holder 35EPQ, choice very fine, rare £500-700

x22 National Bank of Egypt, 50 piastres, 19 July 1918, serial number P/59 073,091, brown on multicolour underprint, Sphinx at left, reverse blue on multicolour, value at centre, left and right (Pick 11), in PMG holder 35, choice very fine, rare £500-700

x24 National Bank of Egypt, £1, 22 July 1918, serial number S/2 097,758, blue on red and green underprint, ruins of Karnak at left, value at right and each corner, reverse green, values, Rowlatt signature (Pick 12a), one central crease and a few small stains, but a wonderfully original PMG50, about uncirculated, very rare in this grade £800-1,200

x25 National Bank of Egypt, £1, 5 January 1920, serial number S/74 010,251, blue on red and green underprint, ruins of Karnak at left, value at right and each corner, reverse green, values, Rowlatt signature (Pick 12a), two vertical creases, but a fresh, original and stain-free PMG 55, about uncirculated, a lovely example £800-1,200

x23 National Bank of Egypt, proof/specimen £1, ND (1914), no serial number, blue on red and green underprint, ruins of Karnak at left, value at right and each corner, reverse green, values, perforated CANCELLED (Pick 12s), in PMG holder 64, choice uncirculated and very scarce £800-1,200

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April 12, 2016 - LONDON

x26 National Bank of Egypt, printers archival specimen £5, 1 September 1913, serial number range W/1 000001 to W1 050000, lilac, yellow and pale green underprint, feluccas on the Nile, pyramids in background, value in each corner, reverse lilac and pale orange and green, value at left and right set in ornate guilloches, perforated CANCELLED (Pick 13s, Hanafy M2s), annotation in top margins, in PMG holder 64, choice uncirculated and very rare, first date and prefix for series £4,000-5,000

x27 National Bank of Egypt, £5, 20 February 1915, serial number W/6 065483, lilac, yellow and pale green underprint, feluccas on the Nile, pyramids in background, value in each corner, reverse lilac and pale orange and green, value at left and right set in ornate guilloches (Pick 13a, Hanafy M2), visibly embossed, completely original and in PMG holder 45EPQ, choice extremely fine, incredibly difficult to find in this grade and certainly amongst the finest known for date £2,500-3,000 15

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x28 National Bank of Egypt, £5, 22 December 1916, serial number W/14 032840, lilac, yellow and pale green underprint, feluccas on the Nile, pyramids in background, value in each corner, reverse lilac and pale orange and green, value at left and right set in ornate guilloches (Pick 13a, Hanafy M2), visibly embossed, completely original, in PMG holder 40, extremely fine, very rare in such high grade £1,800-2,200

x29 National Bank of Egypt, printers archival specimen £10, 15 January 1920, serial number X/35 000,001-X/35 100,000, brown and multicoloured, Old Cairo street scene and the Mosque of Qayetbay at right, value at left, reverse brown, value at left and right, perforated CANCELLED (Pick 14s, Hanafy M3as), in PMG holder 64, choice uncirculated, rare and attractive £1,000-1,500 WWW.SPINK.COM

April 12, 2016 - LONDON

x32 National Bank of Egypt, £10, 12 November 1919, serial number X/30 082,744, brown and multicoloured, Old Cairo street scene and the Mosque of Qayetbay at right, value at left, reverse brown, value at left and right (Pick 14, Hanafy M3a), completely original with only 3 major folds, in PMG holder 35, choice very fine and one of the finest examples Spink have sold in the last 10 years £1,800-2,200

x30 National Bank of Egypt, £10, 8 January 1915, serial number X/4 061844, brown and multicoloured, Old Cairo street scene and the Mosque of Qayetbay at right, value at left, reverse brown, value at left and right (Pick 14, Hanafy M3a), a clean and original PMG 25, very fine, rare £1,000-1,500

x31 National Bank of Egypt, £10, 28 October 1915, serial number X/5 027767, brown and multicoloured, Old Cairo street scene and the Mosque of Qayetbay at right, value at left, reverse brown, value at left and right (Pick 14, Hanafy M3a), a superb original, in PMG holder 35, choice very fine, with visible embossing, a lovely note £1,200-1,600

x33 National Bank of Egypt, £50, 15 November 1919, serial number N/2 083273, purple on multicolour underprint, Mameluke tombs and camel caravan at centre, value at left and right and each corner, reverse purple, value at corners, Rowlatt signature (Pick 15b), in PMG holder 30, original good very fine, completely free of graffiti, and a very nice example £1,500-2,000

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x34 National Bank of Egypt, £50, 21 January 1920, serial number N/3 024153, purple on multicolour underprint, Mameluke tombs and camel caravan at centre, value at left and right and each corner, reverse purple, value at corners, Rowlatt signature (Pick 15b), some rust from paperclips at upper and lower left, but a well embossed and original PMG 30, very fine, rare £1,200-1,600

x35 National Bank of Egypt, printers archival specimen £50, 1 March 1945, serial number N/7 000001-N/7 100000, purple on multicolour underprint, Mameluke tombs and camel caravan at centre, value at left and right and each corner, reverse purple, value at corners, perforated SPECIMEN (Pick 15cs), mounting traces, annotations in margins, in PMG holder 64, rare £1,500-2,000

x36 National Bank of Egypt, £50, 1 March 1945, serial number N/7 097121, purple on multicolour underprint, Mameluke tombs and camel caravan at centre, value at left and right and each corner, reverse purple, value at corners, Nixon signature (Pick 15c), fresh and original, in PMG holder 30, very fine, scarce in this grade £600-800

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April 12, 2016 - LONDON

x37 National Bank of Egypt, printers archival specimen ÂŁ100, 6 September 1913, serial number range Z/2 010001-Z/2 020000, purple on multicolour underprint, Citadel and Mosque of Mohammed Ali at centre, value at each corner, reverse purple, value at low left and right, perforated CANCELLED (Pick 16s), mounting traces, in PMG holder 63, choice uncirculated, this is the second date of issue, and is extremely rare ÂŁ6,500-7,500

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x38 National Bank of Egypt, specimen £100, 1 March 1921, no serial numbers, green and purple on multicolour underprint, Citadel of Cairo at left, Mosque with two minarets at right, value at each corner, reverse multicoloured, Island of Philae with sailing boat at centre, value at top left and right, perforated CANCELLED in four languages, overprinted CANCELLED in English and Arabic, perforated with number 263 (Pick 17as), in PMG holder 64, choice uncirculated, the first date of issue, rare and attractive £2,000-2,500

x39 National Bank of Egypt, £100, 1 September 1921, serial number K/2 067,794 green and purple on multicolour underprint, Citadel of Cairo at left, Mosque with two minarets at right, value at each corner, reverse multicoloured, Island of Philae with sailing boat at centre, value at top left and right, Hornsby signature (Pick 17b), small amount of graffiti and some pinholes, but PMG 25, a fresh and attractive very fine, and a very rare second date of issue £2,000-2,500 WWW.SPINK.COM

April 12, 2016 - LONDON

x40 National Bank of Egypt, £100, 4 June 1936, serial number K/3 051562, green and purple on multicolour underprint, Citadel of Cairo at left, Mosque with two minarets at right, value at each corner, reverse multicoloured, Island of Philae with sailing boat at centre, value at top left and right, Cook signature (Pick 17c), the third date of issue, in PMG holder 30, thus a fresh and original choice very fine £600-800

x41 National Bank of Egypt, £100, 15 December 1944, serial number K/7 051031, green and purple on multicolour underprint, Citadel of Cairo at left, Mosque with two minarets at right, value at each corner, reverse multicoloured, Island of Philae with sailing boat at centre, value at top left and right, Nixon signature (Pick 17d), in PMG holder 35, choice very fine and a very pleasing example £500-700

x42 National Bank of Egypt, £100, 3 April 1945, serial number K/8 004887, green and purple on multicolour underprint, Citadel of Cairo at left, Mosque with two minarets at right, value at each corner, reverse multicoloured, Island of Philae with sailing boat at centre, value at top left and right, Nixon signature (Pick 17d), fresh and original with nice embossing, in PMG holder 53EPQ, about uncirculated and rare in this high grade £700-900

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x43 National Bank of Egypt, £1, 15 July 1924, serial number H/45 049,855, red-orange and blue on multicolour underprint, Camel at centre, heads of Pharaohs at top left and right, value at low left and right (Pick 18), fresh and original, in PMG holder 40, and only lacking the EPQ designation due to a minor mark in the low left margin, wonderful condition and very rare £2,000-2,500

x44 National Bank of Egypt, £5, 7 August 1924, serial number M/7 099,328, green and purple on multicolour underprint, bank building at centre, value at each corner, reverse blue and red, palms and domed building at centre, Hornsby signature (Pick 19a), completely original with lovely embossing, graffiti on reverse but in PMG holder 40, extremely fine and a very rare early date (first week of issue) in great condition £1,000-1,500 WWW.SPINK.COM

April 12, 2016 - LONDON

x45 National Bank of Egypt, £5, 15 December 1945, serial number M/120 049573, green and purple on multicolour underprint, bank building at centre, value at each corner, reverse blue and red, palms and domed building at centre, Nixon signature (Pick 19c), in PMG holder 35EPQ, choice very fine, completely original and a lovely note £150-200

x46 National Bank of Egypt, £5, 26 December 1945, serial number M/128 091707, green and purple on multicolour underprint, bank building at centre, value at each corner, reverse blue and red, palms and domed building at centre, Nixon signature (Pick 19c), a superb original, in PMG holder 65EPQ, gem uncirculated and very rare in such high grade £300-400

x47 National Bank of Egypt, £1, 8 July 1928, serial number J/8 865268, green and purple on multicolour underprint, Fellah at right, value at centre and each corner, reverse purple, the Mosque of al-Mansour Seif el-Dein Qa’la Un at centre (Pick 20), visible embossing, in PMG holder 64, choice uncirculated and one of the best examples we have seen for at least five years £2,000-2,500

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x48 National Bank of Egypt, 50 piastres, 12 March 1938, serial number A/6 955211, green on multicolour underprint, Tutankhamen at left, value at right, reverse blue, arms at left, Cook signature (Pick 21a), in PMG holder 65EPQ, gem uncirculated £300-350

x49 National Bank of Egypt, 50 piastres, 6 August 1942, serial number A/21 008260, green on multicolour underprint, Tutankhamen at left, value at right, reverse blue, arms at left, large Nixon signature (Pick 21b), in PMG holder 64, choice uncirculated £150-200

x50 National Bank of Egypt, 50 piastres, 27 May 1948, serial number A/41 127122, green on multicolour underprint, Tutankhamen at left, value at right, reverse blue, arms at left, Leith-Ross signature (Pick 21d), in PMG holder 65EPQ, gem uncirculated £150-200

x51 National Bank of Egypt, 50 piastres, 18 May 1951, serial number A/60 278255, green on multicolour underprint, Tutankhamen at left, value at right, reverse blue, arms at left, Saad signature (Pick 21e), in PMG holder 66EPQ, gem uncirculated £150-200

x52 National Bank of Egypt, specimen £1, 23 April 1930, no serial number, blue and brown on multicolour underprint, Tutankhamen at right, value at centre and each corner, reverse green, the Mosque of al-Mansour Seif el-Dein Qa’la un at centre, 8 cancellation holes, perforated and overprinted CANCELLED in 4 languages (Pick 22s), in PMG holder 64EPQ, choice uncirculated, a very scarce specimen type showing the first date of issue £500-700

x53 National Bank of Egypt, £1, 25 April 1930, serial number J/13 889079, blue on multicolour underprint, King Tutankhamen at right, value at centre and each corner, reverse green, the Mosque of al-Mansour Seif el-Dein Qa’la un at centre, Hornsby signature (Pick 22a), in PMG holder 50, about uncirculated, by far the scarcest date for type £500-700

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April 12, 2016 - LONDON

x54 National Bank of Egypt, £1 (2), 1 November 1933 and 10 June 1940, prefixes J/19 and J/37, blue on multicolour underprint, King Tutankhamen at right, value at centre and each corner, reverse green, the Mosque of al-Mansour Seif el-Dein Qa’la un at centre, Cook signatures (Pick 22b), in PMG holders 45EPQ and 40, extremely fine (2) £100-150

x56 National Bank of Egypt, £1 (2), 26 May 1948 and 4 June 1948, prefixes J/107 and J/115, blue on multicolour underprint, King Tutankhamen at right, value at centre and each corner, reverse green, the Mosque of al-Mansour Seif el-Dein Qa’la un at centre, Leith-Ross signatures (Pick 22d), in PMG holders 64EPQ, choice uncirculated and 58, choice about uncirculated, respectively (2) £150-200

x55 National Bank of Egypt, £1 (3), 17 March 1942, 2 December 1943 and 31 January 1945, prefixes J/52, J/70 and J/100, blue on multicolour underprint, King Tutankhamen at right, value at centre and each corner, reverse green, the Mosque of al-Mansour Seif el-Dein Qa’la un at centre, Nixon signatures (Pick 22c), in PMG holders 65EPQ, 65EPQ and 64, all uncirculated, including the scarcer J/70 and the last prefix of this signature, J/100 (3) £400-500

x57 National Bank of Egypt, £10, 5 January 1937, serial number X/50 034879, brown and purple on multicolour underprint, Mosque of Sultan Qala’un and street in Cairo at right, value at centre and each corner, reverse blue-green, palms at centre, ox-driven water lift at left, value at each corner, Cook signature (Pick 23a), in PMG holder 66EPQ, gem uncirculated, extremely rare in this exceptional grade £1,000-1,500

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x58 National Bank of Egypt, £10, 9 July 1941, serial number X/61 042010, brown and purple on multicolour underprint, Mosque of Sultan Qala’un and street in Cairo at right, value at centre and each corner, reverse blue-green, palms at centre, ox-driven water lift at left, value at each corner, Nixon signature (Pick 23b), in PMG holder 64EPQ, choice uncirculated, very scarce in top grades £500-700

x59 National Bank of Egypt, £10, 13 February 1950, serial number X/140 030666, brown and purple on multicolour underprint, Mosque of Sultan Qala’un and street in Cairo at right, value at centre and each corner, reverse blue-green, palms at centre, ox-driven water lift at left, value at each corner, Leith-Ross signature (Pick 23c), in PMG holder 67EPQ, fresh and original, lovely embossing, superb gem uncirculated £500-700

x60 National Bank of Egypt, £10, 19 May 1951, serial number X/148 089611, brown and purple on multicolour underprint, Mosque of Sultan Qala’un and street in Cairo at right, value at centre and each corner, reverse blue-green, palms at centre, ox-driven water lift at left, value at each corner, Saad signature (Pick 23d), in PMG holder 66EPQ, gem uncirculated £600-800

x61 National Bank of Egypt, £1, 1950, serial number GH/4 791363, blue and violet on multicolour underprint, King Farouk at right, value at each corner, reverse blue, lake and temple ruins at centre, LeithRoss signature (Pick 24a), in PMG holder 58EPQ, choice about uncirculated, completely original £100-150

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April 12, 2016 - LONDON

x62 National Bank of Egypt, £1, 1951, serial number 955694, blue and violet on multicolour underprint, King Farouk at right, value at each corner, reverse blue, lake and temple ruins at centre, Saad signature (Pick 24b), in PMG holder 64, choice uncirculated £100-150

x64 National Bank of Egypt, £50, 1951, serial number EF/4 013733, green and maroon on multicolour underprint, King Farouk at right, temple ruins at low left, value at each corner, reverse green, view of Cairo with Citadel at left, Saad signature (Pick 26b), in PMG holder 30, very fine, the Saad signature considerably scarcer £400-500

x63 National Bank of Egypt, £5, 1948, serial number AB/21 017668, green and purple on multicolour underprint, King Farouk at right, Citadel of Cairo at left, value at each corner, reverse olive green, fountain at centre, Leith-Ross signature (Pick 25a), in PMG holder 64, choice uncirculated, scarce in high grades £200-250

x65 National Bank of Egypt, printers archival specimen £100, 1951, serial number range CD/3 000001 CD/3 100000, purple and green on multicolour underprint, King Farouk at right, Minaret at left, value at each corner, reverse purple, Mosque at centre, perforated SPECIMEN (Pick 27s), ink and printed annotations in margins, minor mounting traces, in PMG holder 55, about uncirculated, very scarce £800-1,200

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x66 National Bank of Egypt, £100, 1951, serial number CD/4 022840, purple and green on multicolour underprint, King Farouk at right, Minaret at left, value at each corner, reverse purple, Mosque at centre, Saad signature (Pick 27b), fresh and original, in PMG holder 50EPQ, about uncirculated, quite rare in this grade £800-1,200

x68 National Bank of Egypt, £10 (3), 1958, prefixes SD/53, SD/81 and SD/131, red, on multicolour underprint, Tutankhamen at right, reverse red, man in ruins at centre (Pick 32), in PMG holders 66EPQ, 66EPQ, gem uncirculated and 58, choice about uncirculated respectively (3) £100-150

x67 National Bank of Egypt, a group from the 1952 issue comprising, 25 piastres, 1954, green, 50 piastres, 1957, brown, £1, 1952, blue, £5, 1958 dark green, and £10, 1958, red, all with Tutankhamen at right (Pick 28-32), in PMG holders 64, 66EPQ, 64EPQ, 66EPQ, and 65EPQ respectively (5) £150-200

x69 National Bank of Egypt, £50, 1952, serial number HJ/5 095555, green and purple on multicolour underprint, Tutankhamen at right, temple ruins at low left, value at each corner, reverse green, view of Cairo (Pick 33), one piece of graffiti on reverse in margin, but fresh and original, in PMG holder 30, very fine, scarce £500-700

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April 12, 2016 - LONDON

x70 National Bank of Egypt, £50, 1952, serial number HJ/5 006884, green and purple on multicolour underprint, Tutankhamen at right, temple ruins at low left, value at each corner, reverse green, view of Cairo (Pick 33), in PMG holder 58, choice about uncirculated and very rare in this grade, a really lovely example £1,200-1,600

x71 National Bank of Egypt, £100, 1952, serial number 070306, purple on multicolour underprint, Tutankhamen at right, minaret at left, value at each corner, reverse purple, Mosque at centre (Pick 34), small piece of graffiti on obverse, but a fresh good very fine, very difficult to find in original condition £400-500

x72 Central Bank of Egypt, £5, 1961, serial number 035341, green on multicolour underprint, Tutankhamen at right, also £1, 1967, blue-green, £5, 1963, green, £5, 1965, purple, and £10, 1965, green and brown, all with Tutankhamen at right (Pick 3741, LNZ, B303-307), first original about uncirculated to uncirculated, the first very scarce (5) £280-350

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x73 Central Bank of Egypt, a group of later issues, comprising 25 and 50 piastres, £1, £5 and £10 (2), 1967-78 issue, 25 piastres and £20, 1976-78 issue, £1, £10, £20 and £100, 1978-2008 issue, 25 and 50 (2) piastres, 1985-2008 issue, £5 and £100, 1989-2001 issue, also Egyptian Government Currency, 5 piastres (2), 1971, 5 and 10 piastres, 1998-9 (Pick 42-48, 5053, 57-59, 61, 182e, j, 188, 189, LNZ B308-314, 316-319, 323-325, 327), includes some better signatures, the 1978 £100 is a replacement serial, uncirculated (21) £300-500

x74 Egyptian Government Currency Note, 10 piastres, 27 May 1917, serial number A/43 11703, green on orange and green underprint, value at top left and low right, reverse blue, Colossi of Memnon at centre (Pick 160b), in PMG holder 58, choice about uncirculated, scarce in higher grades £400-500

x75 Egyptian Government Currency Note, 5 piastres (2), 1 June 1918, consecutive serial numbers H/77 18789-90, lilac-brown on green underprint, camel caravan at centre, value at each corner, reverse blue, Sphinx at left and right (Pick 162), in PMG holders 64EPQ and 65EPQ, wonderful uncirculated examples, rare as a consecutive pair in this grade (2) £600-800

x76 Egyptian Government Currency Note, 5 piastres, 1940, serial number 750104, green on brown underprint, value at low left and right and each corner, reverse brown, Aswan Dam at centre (Pick 163), fully embossed and original, in PMG holder 66EPQ, uncirculated £300-400

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April 12, 2016 - LONDON

x77 Egyptian Government Currency Note, 5 piastres, 1940, serial number E/3 000009, brown on yellow underprint, value at low left and right and each corner, reverse dark blue (Pick 164), in PMG holder 66EPQ, gem uncirculated and a ‘Royal Number’, rare £800-1,200

x78 Egyptian Government Currency Note, 5 piastres, 1940, serial number H/5 379957, brown on tan underprint, King Farouk at left, value at low left and top right, reverse dark blue (Pick 165a), in PMG holder 66EPQ, gem uncirculated £150-200

x79 Egyptian Government Currency Note, 5 piastres, 1940, serial number W/8 152957, brown on tan underprint, King Farouk at left, value at low left and top right, reverse dark blue (Pick 165a), in PMG holder 67EPQ, superb gem uncirculated, one of the best examples extant £150-200

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x80 Egyptian Government Currency Note, 10 piastres, 1940, serial number 000007, brown on pink underprint, value at low right and top left, reverse dark blue, view of Cairo with the Citadel at centre (Pick 166b), in PMG holder 67EPQ, superb gem uncirculated, a rare ‘Royal Number’ in incredible grade £1,500-2,000

x81 Egyptian Government Currency Note, 10 piastres, 1940, serial number 000008, brown on pink underprint, value at low right and top left, reverse dark blue, view of Cairo with the Citadel at centre (Pick 166b), in PMG holder 67EPQ, superb gem uncirculated, a rare ‘Royal Number’, consecutive with previous lot £1,500-2,000 WWW.SPINK.COM

April 12, 2016 - LONDON

x82 Egyptian Government Currency Note, 10 piastres, 1940, serial number D 141468, blue on green underprint, Temple of Philae at centre, value at left and right and each corner, reverse green and pink, value at low left and right (Pick 167), in PMG holder 66EPQ, gem uncirculated £150-200

x83 Egyptian Government Currency Note, 10 piastres, 1940, serial number B/9 375959, blue on green underprint, King Farouk at right, value at each corner, reverse green and pink, value at each corner (Pick 168a), in PMG holder 66, gem uncirculated £150-200

x84 Egyptian Government Currency Note, 10 piastres, 1940, serial number E/4 520495, blue on green underprint, King Farouk at right, value at each corner, reverse green and pink, value at each corner (Pick 168a), in PMG holder 55EQ, about uncirculated £120-160

April 12, 2016 - LONDON

IRAQ

x85 Government of Iraq, 1 dinar, L.1931 (1931-32), serial number A 157,572, blue on multicolour underprint, King Faisal I at right, value at each corner, reverse blue, value at left, and top left and right (Pick 3a, TBB B103a), in PMG holder 64EPQ, fresh, original choice uncirculated, thus extremely rare £3,000-4,000

x86 Government of Iraq, ¼ dinar, L.1931 (1934-40), serial number G416,680, green on multicolour underprint, King Ghazi at right, value at each corner (Pick 7, TBB B107e), wonderfully original, embossing very evident, uncirculated and rare in this grade £2,000-2,500 35

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x87 Government of Iraq, ½ dinar, L.1931 (1934-40), serial number D051,019, brown-red on multicolour underprint, King Ghazi at right, value at each corner (Pick 8, TBB B108d), central fold but an original PMG 55, about uncirculated, rare £1,000-1,500

x88 Government of Iraq, 1 dinar, L.1931 (1934-40), serial number G643,467, blue on multicolour underprint, King Ghazi at right, value at each corner (Pick 9, TBB B109e), central fold and minor handling, but fresh and original, about uncirculated and rare £1,500-2,000

x89 Government of Iraq, 10 dinars, L.1931 (1934-40), serial number A160,083, purple on multicolour underprint, King Ghazi at right, value at each corner (Pick 11b, TBB B111b), ex George Kanaan, not from the well known hoard of notes, fresh and original, about uncirculated, extremely rare and a lovely example £6,500-7,500

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April 12, 2016 - LONDON

x90 Government of Iraq, ¼ dinar, L.1931 (1942), serial number N367,756, green on multicolour underprint, King Faisal II as a baby at right, value at each corner (Pick 16b, TBB B118b), minute section of thinning at top right, otherwise a perfectly embossed and original uncirculated £700-900

x91 Government of Iraq, ½ dinar, L.1931 (1942), serial number J092,479, brown on multicolour underprint, King Faisal II as a baby at right, value at each corner (Pick 17b, TBB B119b), in PMG holder 40, extremely fine, rare in any grade above very fine £700-900

x92 Government of Iraq, 1 dinar, L.1931 (1942), serial number K228,436, blue on multicolour underprint, King Faisal II as a baby at right, value at each corner (Pick 18a, TBB B120a), the scarcer signature variety, completely original, uncirculated and rare in this grade £1,000-1,500 37

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x93 Government of Iraq, 5 dinars, L.1931 (1942), serial number A354,824, red-brown and lilac on multicolour underprint, King Faisal II as a baby at right, value at each corner (Pick 19a, TBB B121a), completely original, in PMG holder 55, about uncirculated, has become extremely rare in high grades, especially in original condition ÂŁ2,000-2,500

x94 Government of Iraq, 10 dinars, L.1931 (1942), serial number B339,115, purple on multicolour underprint, King Faisal II as a baby at right, value at each corner (Pick 20b, TBB B122b), a fresh, original and well embossed about uncirculated, a superb note ÂŁ2,500-3,500 WWW.SPINK.COM

April 12, 2016 - LONDON

x95 Government of Iraq, ¼ dinar, L.1931 (1948), serial number V258,994, green on multicolour underprint, King Faisal II as a youth at right, value at each corner (Pick 22, TBB B124a), central fold, extremely good fine to about uncirculated, very scarce £1,000-1,500

x98 National Bank of Iraq, 10 dinars, 1947, serial number A509790, purple on multicolour underprint, King Faisal II as a youth at right, value at each corner, reverse purple, winged bull statue at centre (Pick 31, TBB B205a), embossing still visible on serial numbers, in PMG holder 64, choice uncirculated, very scarce in this grade £500-700

x96 National Bank of Iraq, 1 dinar, 1947, serial number M930238, blue on multicolour underprint, King Faisal II as a youth at right, value at each corner, reverse blue, equestrian statue of Faisal I at centre (Pick 29, TBB B203a), superbly embossed, completely original, in PMG holder 66EPQ, gem uncirculated £400-600

x99 National Bank of Iraq, ¼ dinar, 1947, serial number T207301, green on multicolour underprint, King Faisal II as an older youth at right, value at corners, reverse green, palms at centre (Pick 32, TBB B206a), one corner fold, in PMG holder 58EPQ, original about uncirculated £250-300

x97 National Bank of Iraq, 5 dinars, 1947, serial number A946994, red on multicolour underprint, King Faisal II as a youth at right, value at each corner, reverse red, Hammuradi receiving the laws from Shamesh the Sun God at centre (Pick 30, TBB B204a), original about uncirculated, scarce in high grade £400-600

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x100 National Bank of Iraq, 10 dinars, 1947, serial number E518463, purple on multicolour underprint, King Faisal II as a youth at right, value at each corner, reverse purple, winged bull statue at centre (Pick 41, TBB B215b), in PMG holder 65EPQ, gem uncirculated £800-1,200

x101 Central Bank of Iraq, ½ dinar, L.1947 (1959), serial number 1/A 557586, brown on multicolour underprint, King Faisal II as a young man at right, value at corners, reverse brown, Spiral Minaret at centre (Pick 43, TBB B301a), in PMG holder 66EPQ, original gem uncirculated £250-300

x103 Central Bank of Iraq, a small group of post-kingdom issues, comprising 10 dinars, 1959, purple, arms at right, ½ dinar, 1971, brown, 1 dinar (2), 1971, blue, ½ dinar, 1973, brown, and 10 dinars, 1973, purple (Pick 55a, 57, 58, 62, 65), uncirculated (6) £100-150

ISRAEL

x104 Bank of Israel, a group of issues comprising, a complete set of the ‘Ideal Figures’ series, ½, 1, 5, and 10 lirot, 1958 and 50 lirot, 1960, 5, 10, 50 and 100 lirot, 1968 issue, and 1, 5, 10, 50 and 100 shequalim, 1978-79 issue (Pick 29a-33a, 34-37, 43-47), generally uncirculated, the ‘Ideal Figures’ notes are the scarcer dates £80-120

x102 Central Bank of Iraq, 5 dinars, L.1947 (1959), serial number 1/A 755841, red on multicolour underprint, King Faisal II as a young man at right, value at corners, reverse red, Hammuradi receiving the laws from Shamash the Sun God at centre (Pick 43, TBB B301a), completely original, uncirculated and hard to find in this grade £250-300 WWW.SPINK.COM

April 12, 2016 - LONDON

JORDAN

x107 The Hashemite Kingdom of Jordan, 10 dinars, L.1949 (1950), serial number A/A328929 blue print, King Abdullah at right, value at each corner, Sulaiman Sukar and Abdul H, Al Haimak signatures, reverse blue, Treasury at Petra at centre (Pick 4, TBB B104a), completely original, in PMG holder 50, about uncirculated, scarce in this grade £600-800

x105 The Hashemite Kingdom of Jordan, 1 dinar, L.1949 (1950), serial number A/1 840574, green on light orange and blue, King Abdullah at left, ornate border, reverse, archaeological site at Jerash, column at left and right (Pick 2b, TBB B102b), in PMG holder 65EPQ, gem uncirculated, scarce in this grade £450-650

x108 The Hashemite Kingdom of Jordan, 500 fils, ND (L.1949), serial number B/A 700003, lilac on pale green, landscape with irrigation system, reverse cattle in hayfield, Anestas Hananeyah and Baha Al-Din Toukan signatures (Pick 5Aa, TBB B106a), visible embossing, in PMG holder 65EPQ, gem uncirculated, a lovely example and potentially a low number £800-1,200

x106 The Hashemite Kingdom of Jordan, 5 dinars, L.1949 (1950), serial number A/A 345670, red print, King Abdullah at right, value at each corner, Sulaiman Sukar and Abdul H, Al Haimak signatures, reverse red, Treasury at Petra at centre (Pick 3, TBB B103a), in PMG holder 66EPQ, a beautifully fresh gem uncirculated, rare in this grade £500-700

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x109 The Hashemite Kingdom of Jordan, 500 fils, ND (L.1949), serial number B/C 599728, lilac on pale green, landscape with irrigation system, reverse cattle in hayfield, Ez-Eldin Al Mufti and Sulaiman Sukar signatures (Pick 5Ac, TBB B106c), embossing visible all over, in PMG holder 65EPQ, gem uncirculated £800-1,200

x110 The Hashemite Kingdom of Jordan, 1 dinar, L.1949 (1952), serial number B/B 046807, green on light orange and blue, King Hussein at left, ornate border, reverse, archaeological site at Jerash, column at left and right, Anestas Hananeyah and Baha Al-Din Toukan signatures, (Pick 6a, TBB B107a), completely original, in PMG holder 65EPQ, gem uncirculated £300-400

x111 The Hashemite Kingdom of Jordan, 5 dinars, L.1949 (1952), serial number B/B 497630, red print, King Hussein at right, value at each corner, reverse red, Treasury at Petra at centre, Anestas Hananeyah and Baha Al-Din Toukan signatures, (Pick 7a, TBB B108a), in PMG holder 65EPQ, gem uncirculated, scarce in this grade £400-500

x112 The Hashemite Kingdom of Jordan, 10 dinars, L.1949 (1952), serial number B/A816338, blue print, King Hussein at right, value at each corner, reverse blue, Treasury at Petra at centre, Anestas Hananeyah and Baha Al-Din Toukan signatures (Pick 8, TBB B109b), original, in PMG holder 55 EPQ, about uncirculated and scarce in this grade £500-600

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April 12, 2016 - LONDON

x113 Central Bank of Jordan, a full set from the second issue comprising ½ dinars, brown and 1 dinars, green, with Mohamad Nuri Shafik and Said Al Nabulsi signatures, 5 dinars, red, with Salem Massadeh and Said Al Nabulsi signatures, 10 dinars, blue, with Hashim Al Jayoosi and Khalil Al Salem signatures (Pick 13-16, TBB B201-204), all uncirculated (4) £250-350

x115 Kuwait Currency Board, ½ dinar, ND (ca 1960), serial numbers A/4 717705, purple and multicoloured, Amir Shaikh Abdullah al-Salem AlSabah at right, value at each corner, Al-Sabah signature, reverse blue-green, Shuwaikh secondary school building (Pick 2, TBB B102a), in PMG holder 66EPQ, gem uncirculated £300-500

KUWAIT

x116 Kuwait Currency Board, 1 dinar, 1961, serial number A/3 895987 brown, on multicolour, Sheikh Abdullah Al Salem Al Sabah at right, reverse brown, vignette of cement factory, Al-Sabah signature (Pick 3, TBB B103a), in PMG holder 66EPQ, gem uncirculated £250-350

x114 Kuwait Currency Board, ¼ dinar, 1960, serial number A/8 802815, brown and multicoloured, Amir Shaikh Abdullah at right, value at each corner, reverse purple, the Port of Kuwait at left, value at each corner (Pick 1, TBB B101a), visible embossing, in PMG holder 66EPQ, gem uncirculated £150-250

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x117 Kuwait Currency Board, 5 dinars, L.1960 (1961), serial number A/1 737069, blue on multicolour, Amir Sheikh Abdullah al-Salem al-Sabah signature and portrait at right, reverse blue, street view (Pick 4, TBB B104), completely original, in PMG holder 67EPQ, superb gem uncirculated and a lovely example £600-800

x118 Kuwait Currency Board, 10 dinar, law of 1960 (1961), serial number A/5 659120, green and multicoloured, Amir Sheikh Abdullah al-Salem al-Sabah at right, reverse green, sailing dhow at centre, Amir Sheikh Abdullah al-Salem al-Sabah signature (Pick 5, TBB B105), completely original, in PMG holder 66EPQ, gem uncirculated and rare, especially in this grade £750-950

x119 Central Bank of Kuwait, a full set from the Law of 1968 (1970) issue, ¼ dinar, brown, ½ dinar, purple, 1 dinar, burgundy, 5 dinars, blue, 10 dinars, green, Amir Sheikh Abdullah al-Salem al-Sabah at right, Al-Sabah signature (Pick 610, TBB B201-205), the 5 dinars pressed extremely fine, the remainder uncirculated (5) £600-800 WWW.SPINK.COM

April 12, 2016 - LONDON

LEBANON

x120 Banque du Syrie et du Grande-Liban, Lebanon, specimen/proof 100 livres, L.1930 (1942), no serial number, purple on multicolour underprint, Bank of Beyrouth building at top centre, value at each corner, reverse brown on multicolour underprint, view of town and mountains at centre, purple V overprint, four cancellation holes, red SPECIMEN overprint (Pick 14cs), ink annotations in top margin, in PMG holder 64, choice uncirculated and very scarce £1,800-2,600

x122 Banque de Syrie et du Liban, Lebanon, 1 livre, 1 September 1939, serial number J/ER 030,411, green on lilac and yellow underprint, Pillars of Baalbek at left, reverse red on olive and orange underprint, city view at centre, overprint two V shaped lines (Pick 26d), original and fresh, in PMG holder 64EPQ, choice uncirculated and scarce in this grade £250-350

x121 Banque de Syrie et du Liban, Lebanon, 1 livre, 1 September 1939, serial number J/DV 021,367, green on lilac and yellow underprint, Pillars of Baalbek at left, reverse red on olive and orange underprint, city view at centre, overprint V shaped lines (Pick 26c), original and fresh, in PMG holder 65EPQ, choice uncirculated and scarce in this grade £250-350 45

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x123 Banque du Syrie et du Liban, Lebanon, 5 livres, 1 September 1939, serial number K/AY 078,763, brown on multicolour underprint, Cedar tree at right, value at left and corners, horses at top left and right, reverse brown, coastal town at centre, green V overprint (Pick 27c), fresh and original, in PMG holder 35, choice very fine, a really lovely example £250-350

x124 Banque du Syrie et du Liban, Lebanon, 10 livres, 1 September 1939, serial number L/Z 092,988, purple on multicolour underprint, Clock Tower at left, value at low centre and corners, reverse purple, brown, coastal ruins and fisherman at centre, blue V overprint (Pick 28c), in PMG holder 53, about uncirculated, very scarce in these higher grades £350-450

x125 Republique Libanaise, 25 piastres, 1 August 1942, serial number A/2 156,364, purple on multicolour underprint, Omayyad Mosque at low centre, also 50 piastres, 1 August 1942, serial number B/2 261,379, green on multicolour underprint, Mosque and trees at top centre (Pick 36, 37), fresh, original and PMG 66EPQ, gem uncirculated, scarce in the highest grades (2) £150-200

x126 Republique Libanaise, 25 piastres, 6 November 1950, serial number 588965, purple on multicolour underprint, Cedar tree at right, also 50 piastres, 6 November 1942, serial number 247138, green on multicolour underprint, Pillars of Baalbek at low centre (Pick 42, 43), original and nicely embossed, in PMG holders 66EPQ and 65EPQ respectively (2) £150-200

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THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

LIBYA

x127 Kingdom of Libya, ½ pound, 1 January 1952, serial number D/3 297301, purple on multicolour underprint, King Idris at left, value at each corner, reverse purple, value at centre and corners (Pick 15, TBB B104a), original, in PMG holder 66EPQ, gem uncirculated and rare in this grade, a really lovely note £500-700

x128 Kingdom of Libya, 1 pound, 1 January 1952, serial number C/3 732847, blue on multicolour underprint, King Idris at left, value at each corner, reverse blue, value at centre and corners (Pick 16, TBB B105a), fresh and original, in PMG holder 58, choice about uncirculated and rare £600-800

x129 Kingdom of Libya, 5 pounds, 1 January 1952, serial number B/1 347083, green on multicolour underprint, King Idris at left, value at each corner, reverse green, value at centre and corners (Pick 17, TBB B106a), superb original paper, in PMG holder 64, choice uncirculated and extremely rare in such a grade £3,000-4,000 WWW.SPINK.COM

April 12, 2016 - LONDON

x130 Bank of Libya, ¼ pound, 5 February 1963, serial number 3 F/1 025115, red on multicolour underprint, arms at left, value at right and each corner, reverse red, value at centre and corners (Pick 23, TBB B401a), in PMG holder 66EPQ, gem uncirculated £150-200

x133 Bank of Libya, ¼, ½, and 1 pound, 5 February 1963, red, purple and blue respectively, on multicolour underprint, arms at left, value at right and each corner, reverse red, value at centre and corners (Pick 23, 24, 25, TBB B401a, 402a, 403a), in PMG holders 64, 64EPQ and 58, respectively (3) £500-700

x131 Bank of Libya, ½ pound, 5 February 1963, serial number 4 D/9 484800, purple on multicolour underprint, arms at left, value at right and each corner, reverse purple, value at centre and corners (Pick 24, TBB B402a), in PMG holder 65EPQ, gem uncirculated £200-250 x134 Bank of Libya, 5 pounds, 5 February 1963, serial number 4 B/5 656663, green on multicolour underprint, arms at left, value at right and each corner, reverse green, value at centre and corners (Pick 26, TBB B404a), in PMG holder 58EPQ, choice about uncirculated £800-1,200

x132 Bank of Libya, 1 pound, 5 February 1963, serial number 4 C/14 100100, blue on multicolour underprint, arms at left, value at right and each corner, reverse blue, value at centre and corners (Pick 25, TBB B403a), in PMG holder 65EPQ, gem uncirculated, scarce in high grades £300-350

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x135 Bank of Libya, 10 pounds, 5 February 1963, serial number 4 A/8 092256, brown on multicolour underprint, arms at left, value at right and each corner, reverse brown, value at centre and corners (Pick 27, TBB B405a), in PMG holder 58, choice about uncirculated, thus rare £800-1,200

x136 Central Bank of Libya, a full set from the 1971 issue, ¼ dinar, prefix 1 E/1, orange, ½, prefix 1 D/1, purple, 1 dinar, prefix 1 C/2, blue, 5 dinars prefix, 1 B/3, olive green, 10 dinars prefix 1 A/2, dark blue, all without inscription at low right (Pick 33-37, TBB B501a-505a), the 10 dinars one central fold, about uncirculated, remainder uncirculated (5) £450-650

x137 Central Bank of Libya, a full set from the 1972 issue, ¼ dinar, prefix 1 E/7, orange, ½, prefix 1 D/7, purple, 1 dinar, prefix 1 C/14, blue, 5 dinars (2), prefixes, 1 B/39 and 1 B/41, olive green, 10 dinars, all with inscription at low right (Pick 33-36, TBB B501b-504b), the 10 dinars extremely fine, the remainder uncirculated (6) £250-350

MUSCAT AND OMAN

x138 Sultanate of Muscat and Oman, 100 baiza, ½ rial and 1 rial, 1970 issue, brown, green and red respectively, also Central Bank of Oman, 100 baiza and 1 rial, 1972 issue, brown and red respectively, all with arms at right (Pick 1, 3, 4, 13, 15, TBB B101a, B103a, B104a, B201a, 203a), uncirculated £150-200

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THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

PALESTINE

x139 Palestine Currency Board, 500 mils, 20 April 1939, serial number F336769, purple and green, Rachel’s tomb on the West Bank at low left, value in each corner and at centre, reverse, Tower of David at centre (Pick 6c, TBB B101c), in PMG holder 55EPQ, thus a fresh and original about uncirculated, extremely hard to find in this grade £1,000-1,500

x140 Palestine Currency Board, £1, 20 April 1939, serial number T261875, black, green and yellow, Dome of the Rock at left, value in each corner and at centre, reverse, Tower of David at centre (Pick 7c, TBB B102c), a clean, original and presentable extremely fine £700-900

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April 12, 2016 - LONDON

x141 Palestine Currency Board, £5, 1 January 1944, serial number E586528, black, orange and green, Crusaders Tower at Ramleh at left, value in each corner and at centre, reverse, Tower of David at centre (Pick 8d, TBB B103d), fresh and completely original, about uncirculated and scarce in high grades £1,500-2,000

x142 Palestine Currency Board, £10, 7 September 1939, serial number B416713, black, blue and green, Crusaders Tower at Ramleh at left, value in each corner and at centre, reverse, Tower of David at centre (Pick 9c, TBB B104c), a superb original, about uncirculated, rare in such high grade and a lovely note £5,000-6,000

April 12, 2016 - LONDON

QATAR & DUBAI

x143 Qatar & Dubai Currency Board, 1 riyal, ND (1966), serial number A/2 705558, green on multicolour underprint, dhow, oil derrick and palm trees at left, value at each corner, reverse, value at centre and top left and right (Pick 1, TBB B101a), in PMG holder 66EPQ, gem uncirculated £300-400

x144 Qatar & Dubai Currency Board, 5 riyals, ND (1966), serial number A/4 224498, purple on multicolour underprint, dhow, oil derrick and palm trees at left, value at each corner, reverse, value at centre and top left and right (Pick 2, TBB B102a), in PMG holder 66EPQ, gem uncirculated and rare in this grade £1,000-1,500

x145 Qatar & Dubai Currency Board, 10 riyals, ND (1966), serial number A/5 747903, black on multicolour underprint, dhow, oil derrick and palm trees at left, value at each corner, reverse, value at centre and top left and right (Pick 3, TBB B103a), in PMG holder 67EPQ, superb gem uncirculated, rare in this grade £1,500-2,000

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

An Extremely Rare 25 Riyals in Superb Grade

x146 Qatar & Dubai Currency Board, 25 riyals, ND (1966), serial number A/1 906783, blue on multicolour underprint, dhow, oil derrick and palm trees at left, value at each corner, reverse, value at centre and top left and right (Pick 4, TBB B104a), completely original, embossed, and with superb paper, in PMG holder 64EPQ, gem uncirculated and generally regarded as the rarest of the series, a wonderful note ÂŁ25,000-30,000

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April 12, 2016 - LONDON

A Very Rare 50 Riyals, Amongst the Finest Known

x147 Qatar & Dubai Currency Board, 50 riyals, ND (1966), serial number A/1 753103, red on multicolour underprint, dhow, oil derrick and palm trees at left, value at each corner, reverse, value at centre and top left and right (Pick 5, TBB B105a), in PMG holder 65EPQ, gem uncirculated, quite likely as rare as the 25 riyal in this high grade ÂŁ20,000-25,000

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x148 Qatar & Dubai Currency Board, 100 riyals, ND (1966), serial number A/2 236426, olive green on multicolour underprint, dhow, oil derrick and palm trees at left, value at each corner, reverse, value at centre and top left and right (Pick 6, TBB B106a), in PMG holder 55, but a very attractive about uncirculated, extremely rare in such high grade £3,000-4,000

QATAR

x149 Qatar Monetary Agency, 1 riyal (2), 1973, consecutive serial numbers A/1 542936-37, red on multicolour underprint, dhow and palms at right, value at each corner, reverse red, harbour and ships at left (Pick 1, TBB B101a), minor glue traces along left margin but original about uncirculated and a nice consecutive pair (2) £180-260

x151 Qatar Monetary Agency, 1 riyal, 5 riyals and 10 riyals, 1973, all prefix A/1, red, black and green respectively, on multicolour underprint, dhow and palms at right, value at each corner (Pick 1, 2, 3, TBB B101a, 102a, 103a), minor glue traces along left margin but original about uncirculated (3) £300-500

x150 Qatar Monetary Agency, 1 riyal (2), 1973, almost consecutive serial numbers A/9 549396 and 98, red on multicolour underprint, dhow and palms at right, value at each corner, reverse red, harbour and ships at left (Pick 1, TBB B101a), first has been marked by prolonged contact with the security strip of the second, but both about uncirculated to uncirculated and completely original (2) £180-260

x152 Qatar Monetary Agency, 1 riyal, 5 riyals and 10 riyals, 1973, all prefix A/2, red, black and green respectively, on multicolour underprint, dhow and palms at right, value at each corner (Pick 1, 2, 3, TBB B101a, 102a, 103a), minor glue traces along left margin but original about uncirculated (3) £300-500

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THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x153 Qatar Monetary Agency, 50 riyals, 1973, serial number A/1 579910, blue on multicolour underprint, dhow and palms at right, value at each corner, reverse blue, oil rig at left (Pick 4, TBB B104a), wonderfully fresh and original, in PMG holder 66EPQ, gem uncirculated and very rare in this grade £4,000-5,000

x154 Qatar Monetary Agency, 100 riyals, 1973, serial number A/3 534093, green and brown on multicolour underprint, dhow and palms at right, value at each corner, reverse olive green, bank building at left (Pick 5, TBB B105a), ex Mel Steinberg, in PMG holder 66EPQ, a gem uncirculated example, rare in high grade £2,500-3,000 WWW.SPINK.COM

April 12, 2016 - LONDON

An Extremely Rare 500 Riyals, First Issue, in Spectacular Grade

x155 Qatar Monetary Agency, 500 riyals, 1973, serial number A/2 272225, teal on multicolour underprint, dhow and palms at right, value at each corner, reverse teal, Mosque of the Sheikhs at left (Pick 6, TBBB106a), ex Mel Steinberg, in PMG holder 66EPQ, gem uncirculated, rare in any grade, and this undoubtedly one of the finest extant ÂŁ16,000-20,000

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

SAUDI ARABIA

x156 Saudi Arabian Monetary Agency, 10 riyals, AH1372 (1953), red serial number 018231, green on multicolour underprint, arms at centre, value at each corner (Pick 1, TBB B101a), fresh and original, extremely fine, very presentable and scarce £800-1,200

x157 Saudi Arabian Monetary Agency, 1955 Haj Pilgrim receipt issue 1 riyal, serial number 9/42894, red on brown underprint, Palace of King Saud at centre, value in each corner, reverse brown, arms at low centre (Pick 2, TBB B103a), in PMG holder 66EPQ, gem uncirculated £400-500

x159 Saudi Arabian Monetary Agency, 1954 Haj Pilgrim receipt issue, 10 riyals, serial number 81/869796, green and multicoloured, felucca in Jeddah harbour at centre, value at each corner, signatures of Najjeb Ibrahim Salha, George Blowers and Rasem Bey alKhalidi low centre, reverse green, arms at left and right (Pick 4a, TBB B102a), in PMG holder 65EPQ, gem uncirculated, a superb example £300-400

x160 Saudi Arabian Monetary Agency, 5 riyals, AH 1379 (1961), red serial numbers 8/379303, blue and multicoloured, fortress at centre, arms top left and right, Najjeb Ibrahim Slha signature, reverse blue and pale lilac, arms at centre, value top left and right (Pick 7a, TBB B106a), in PMG holder 65EPQ, gem uncirculated and scarce £350-450

x158 Saudi Arabian Monetary Agency, 1956 Haj Pilgrim receipt issue, 5 riyals, serial number 44/755585, blue and multicoloured, felucca in Jeddah harbour at centre, value at each corner, signatures of Najjeb Ibrahim Salha, George Blowers and Rasem Bey alKhalidi low centre, reverse blue, arms at centre (Pick 3a, TBB B104a), in PMG holder 65EPQ, gem uncirculated and rare, especially in this grade £400-600 WWW.SPINK.COM

April 12, 2016 - LONDON

x161 Saudi Arabian Monetary Agency, 10 riyals (2), AH 1379 (1961), red serial number 39/519353, green and pink, dhows in the harbour at Jeddah at centre, value at each corner, Anwar Ali and Tallal bin Abdul Aziz signatures, reverse green, arms at centre (Pick 8a, TBB B107a), in PMG holder 66EPQ, gem uncirculated £400-600

x163 Saudi Arabian Monetary Agency, 100 riyals, AH 1379 (1968), black serial number 54/257816, red and multicoloured, Government building right centre, value top left and low right, arms at centre, signature 2, 1 riyal, AH 1379 (1968), serial number 72/689065, purple and multicolour, ministry of foreign affairs building at centre (Pick 11, 15a, TBB B110a, B14b), in PMG holders 55 and 66EPQ respectively (2) £350-450

SUDAN

x162 Saudi Arabian Monetary Agency, 100 riyals, AH1379 (1971), serial number 38/52435, red on multicolour underprint, Council of Ministers building at left, Nasiriyah Gate at centre and Royal Technical Institute at right, value at centre, low left and right, reverse red, arms at centre (Pick 10b, TBB B109b), in PMG holder 64, choice uncirculated and very rare, especially in this high grade £1,000-1,500

x164 Sudan Currency Board, 25 piastres, 1956, serial number A/H 442892, red on orange and green underprint, soldiers with rifles on parade at left, value at right and each corner, reverse red, soldier riding camel at centre (Pick 1B, TBB B201a), in PMG holder 65EPQ, gem uncirculated, scarce in top grade £180-220

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x165 Sudan Currency Board, 50 piastres, 1956, serial number B/E 201999, green on blue and yellow underprint, two elephants at left, value at right and each corner, reverse green, soldier riding camel at centre (Pick 2B, TBB B202a), in PMG holder 64EPQ, choice uncirculated, extremely scarce £350-450

x168 Sudan Currency Board, 50 piastres, 1956, serial number B/5 0 599782, green on blue and yellow underprint, two elephants at left, value at right and each corner, reverse green, soldier riding camel at centre (Pick 2A, TBB B207a), in PMG holder 65 EPQ, gem uncirculated, rare in top grade £400-600

x166 Sudan Currency Board, specimen 50 piastres, 1956, serial number A/A 000000, green on blue and yellow underprint, two elephants at left, value at right and each corner, reverse green, soldier riding camel at centre, cancellation hole and red SPECIMEN overprint (Pick 2Bs, TBB B202as), in PMG holder 64EPQ, choice uncirculated £200-250

x169 Sudan Currency Board, 1 pound, 1956, serial number C/11 0 621136, blue on multicolour underprint, Sennar Dam on the Blue Nile at left, value at each corner, reverse blue, soldier riding camel at right (Pick 3, TBB B208a), fresh, original and about uncirculated, scarce in high grades £200-250

x167 Sudan Currency Board, 25 piastres (2), 1956, consecutive serial numbers A/10 0 068705-706, red on orange and green underprint, soldiers with rifles on parade at left, value at right and each corner, reverse red, soldier riding camel at centre (Pick 1A, TBB B206a), fresh and original, in PMG holders 66EPQ and 64, uncirculated and scarce as a pair (2) £300-400

x170 Sudan Currency Board, 5 pounds, 1956, serial number D/16 021063, brown on multicolour underprint, four men in Dhow at left, value at each corner, reverse brown, soldier riding camel at right (Pick 4 TBB B209a), in PMG holder 64, choice uncirculated, very rare, especially this first date of issue and in this high grade £800-1,200

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April 12, 2016 - LONDON

x171 Sudan Currency Board, 10 pounds, 1956, serial number E/18 068516, black on multicolour underprint, University of Khartoum at left, value at each corner, reverse black, soldier riding camel at right (Pick 5 TBB B210a), in PMG holder 58EPQ, choice about uncirculated and very rare in top grades £800-1,200

x172 Sudan Currency Board, 1 pound, 1968, serial number C/62 0 820 891, blue on multicolour underprint, Sennar Dam on the Blue Nile at left, value at each corner, reverse blue, soldier riding camel at right (Pick 8, TBB B303a), uncirculated, scarcer in high grades £100-150

x173 Bank of Sudan, 5 pounds, 1970, serial number D/3 907264, brown, red and multicolour, Bank of Sudan headquarters at left, value in corners, reverse brown, goats, cattle, camels, Elephant, Rhino and Lion at left and right (Pick 14, TBB B309a), in PMG holder 66EPQ, gem uncirculated and the first date for type, thus scarce £100-150

April 12, 2016 - LONDON

SYRIA

x174 Banque de Syrie, 5 piastres, 1 August 1919, serial number A/AB 072606, green on multicolour underprint, ruins of Baalbek at low centre, value at each corner, reverse red and blue, lion at centre (Pick 1), in PMG holder 64, uncirculated, completely original and scarce in this grade £250-350

x176 Banque de Syrie, printer’s archival specimen 500 piastres, 1 August 1919, serial number run E/A 000,001 to E/A 020,000, brown-purple and multicoloured, value in guilloche at left, cedar tree at right, reverse deep grey-green, brown and yellow, view of Beirut harbour at centre, value at left and right, perforated CANCELLED (Pick 5s), mounting traces, ink date ‘25. 5. 19’ and annotations in top margin, in PMG holder 64, choice uncirculated and rare £800-1,200

x177 Banque de Syrie, 1 piastre, 1 January 1920, serial number Z/B 906,229, blue on pink and green underprint, value at each corner, reverse brown, Pillars of Baalbek at centre (Pick 6), pinholes, in PMG holder 53, about uncirculated £100-150

x175 Banque de Syrie, specimen 100 piastres, 1 August 1919, no serial numbers, brown-orange and green, the Pillars of Baalbek at left, value at low left and at top right and left centre, reverse purple, lilac and green, view of Beirut at centre, column and horse at left and right, perforated SPECIMEN (Pick 4s), in PMG holder 64, choice uncirculated, rare £800-1,200

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x178 Banque de Syrie, proof/specimen 50 livres, 1 January 1920, no serial numbers, blue on olive-green and multicoloured underprint, street scene in Beirut at left, reverse purple, salmon pink, pale green and lilac, feluccas and coastline in rectangular frame at centre, value at left and right, perforated SPECIMEN (Pick 9s), in PMG holder 64, choice uncirculated and rare without overprint or cancellation holes ÂŁ1,000-1,500

x179 Banque de Syrie et du Grand-Liban, specimen 100 livres, 1930 (1939), zero serial number, red, pale blue and multicoloured, cedar tree at centre, ornate background detail, pine cones at left and right, black SYRIE 1939 top centre and red arc in field, reverse red, mauve and multicoloured, incense burner at left and right, red arc in field, view of Mosque top centre, blue SYRIE top centre, perforated SPECIMEN (Pick 39Ds), a large and impressive note, in PMG holder 65EPQ, gem uncirculated and lovely ÂŁ1,800-2,200 WWW.SPINK.COM

April 12, 2016 - LONDON

x180 Banque de Syrie et du Liban, Syria, 1 livre, 1 September 1939, serial number J/Q 007,454, green on multicolour underprint, Pillars of Baalbek at left, value at low left and top centre and right, reverse red on orange and green underprint, coastal city view at centre, no additional overprint (Pick 40a), in PMG holder 40, extremely fine, the no-overprint type the scarcest of the six varieties £200-250

x182 Banque de Syrie et du Liban, Syria, 1 livre, 1 September 1939, serial number J/FH 063,084, green on multicolour underprint, Pillars of Baalbek at left, value at low left and top centre and right, reverse red on orange and green underprint, coastal city view at centre, two red V shaped lines overprint (Pick 40e), in PMG holder 40, extremely fine, top left corner tip missing £120-160

x183 Banque de Syrie et du Liban, Syria, 1 livre, 1 September 1939, serial number J/FV 050,728, green on multicolour underprint, Pillars of Baalbek at left, value at low left and top centre and right, reverse red on orange and green underprint, coastal city view at centre, blue diamond overprint (Pick 40f), about uncirculated, scarce in high grades £150-200

x181 Banque de Syrie et du Liban, Syria, 1 livre, 1 September 1939, serial number J/BD 033,535, green on multicolour underprint, Pillars of Baalbek at left, value at low left and top centre and right, reverse red on orange and green underprint, coastal city view at centre, two diagonal red lines overprint (Pick 40c), in PMG holder 65EPQ, gem uncirculated, scarce in higher grades and a lovely example £200-250

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x184 Banque de Syrie et du Liban, Syria, 5 livres, 1 September 1939, serial number K/W 084,213, brown on multicolour underprint, Cedar of Lebanon at right, value at left and corners, horses at top left and right, reverse brown, coastal city view at centre, two red diagonal lines overprint (Pick 41c), in PMG holder 66EPQ, gem uncirculated, a wonderful example £500-700

x185 Banque de Syrie et du Liban, Syria, 5 livres, 1 September 1939, serial number K/BX 032,297, brown on multicolour underprint, Cedar of Lebanon at right, value at left and corners, horses at top left and right, reverse brown, coastal city view at centre, blue diamond overprint (Pick 41e), in PMG holder 35, a clean and presentable choice very fine £300-400

x186 Banque de Syrie et du Liban, Syria, 10 livres, 1 September 1939, serial number L/J 093,021, purple on multicolour underprint, Clock Tower at left, value at low right and corners, reverse purple, coastal ruins and fisherman at centre, blue-green diagonal lines overprint (Pick 42b), in PMG holder 45, choice extremely fine, scarce in high grades £500-700

x187 Banque de Syrie et du Liban, Syria, 25 livres, 1 September 1939, serial number M/Q 076,444, lilacbrown on multicolour underprint, cemetery and camel caravan at low centre, value at left, right and corners, reverse dark green, domed building at centre, two blue V shaped lines overprint (Pick 43c), a clean and presentable fine £250-300

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April 12, 2016 - LONDON

x188 Banque de Syrie et du Liban, Syria, proof/specimen 25 livres, 1 September 1939, no serial number, lilac-brown on multicolour underprint, cemetery and camel caravan at low centre, value at left, right and corners, reverse dark green, domed building at centre, cancellation hole, perforated CANCELLED, red Bradbury Wilkinson roundel, and overprinted SPECIMEN OF NO VALUE (Pick 43s), in PMG holder 64, choice uncirculated, very scarce ÂŁ800-1,200

x189 Banque de Syrie et du Liban, Syria, 50 livres, 1 September 1939, serial number N/T 027,574, brown on multicolour underprint, street scene at left, value at corners, reverse blue, dhows and camel caravan on the shore at centre, green diamond overprint (Pick 44), in PMG holder 35, a presentable choice very fine with strong paper, exceptional for type ÂŁ1,000-1,500 71

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

x190 Republique Syrienne, 5, 25 and 50 piastres, 1942 first issue, blue, red and blue respectively, all with mosques and views of Damascus, also 25 piastres, 1942 second issue, mauve, and 5 and 10 piastres, 1944 issue, green and brown respectively (Pick 49, 51, 52, 53, 55, 56), in PMG holders 63EPQ, 65EPQ, 58, 64, 55EPQ, and 63 respectively, and a nice group (6) £350-450

x191 Institut d’Emission de Syrie, 1 livre, 1950’s first issue, serial number A/5 256568, and Banque Centrale de Syrie, 1 livre, 1957, serial umber A/8 312353, both brown, arms at right, value at corners, reverse Omayyad Mosque at centre (Pick 73, 79), in PMG holders 58, choice about uncirculated, and 66EPQ, gem uncirculated (2) £300-400

x192 Central Bank of Syria, 500 pounds (2), 1958 and 1976, serial numbers H/T 0347979 and T/1 622789, black and brown on multicolour underprint, head at right, relief at centre, reverse ancient religious wheel and cuneiform tablet (Pick 92, 105a, TBB B611a, 611b), first PMG 58EPQ, choice about uncirculated, second PMG 66EPQ, gem uncirculated, the first becoming quite rare £200-300 WWW.SPINK.COM

April 12, 2016 - LONDON

YEMEN

x193 Arab Republic of Yemen, a group from the 1969-1971 issue comprising 1 rial, prefix A/98, green, 5 rials, prefix A/18, red, 10 rials, prefix A/9, teal, 20 rials, prefix A/1, purple, 50 rials, prefix A/1, olive green, all with Ahmed Abdu Said signature (Pick 6-10), about uncirculated to uncirculated (5) £250-350

x194 Peoples Democratic Republic of Yemen, a full set from the 1984 issue 500 fils, green, 1 dinar, blue, 5 dinars, red and 10 dinars, all with dhow on Aden harbour at centre (Pick 6-9, TBB B101-104), all uncirculated (4) £150-250

x195 South Arabian Currency Authority, a full set from the 1965 issue comprising 250 fils, brown, 500 fils, green, with John A. Owen and Sheik Abdul Bari Ali Bazara signatures, 250 fils, brown, 1 dinar, blue, 5 dinars, red and 10 dinars, deep green, with J.L. Ireland and Sheik Abdul Bari Ali Bazara signatures, all with dhow sailing on Aden harbour (Pick 1-5, TBB B101105), the 50 dinars has a staining on reverse, about uncirculated, the remainder uncirculated (7) £300-400

END OF THE SALE

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69 Southampton Row, Bloomsbury, London WC1B 4ET tel: +44 (0)20 7563 4005 fax: +44 (0)20 7563 4037 email: auctionteam@spink.com

WRITTEN BIDS FORM

NAME ______________________________________________________

This form should be sent or faxed to the Spink auction office in advance of the sale. References for new clients should be ADDRESS ____________________________________________________ supplied in good time to be taken up before the sale. Bids received later than one hour before the start of the sale may ____________________________________________________________ not be processed.

____________________________________________________________ YOU CAN ALSO BID IN REAL TIME ON SPINK LIVE.

POSTCODE ___________________________________________________

JUST VISIT WWW.SPINK.COM, REGISTER AND LOG INTO THE SALE.

SALE TITLE

DATE

CODE NAME

SALE NO.

The Bruce Smart Collection of Middle East and North Africa

Tuesday 12 April 2016 at 2.00 p.m.

FELUCCA

16037

I request Spink, without legal obligations of any kind on its part, to bid on the following Lots up to the price given below. I understand that if my bid is successful the Purchase Price will be the sum of the final bid and Buyer’s premium as a percentage of the final bid, any VAT chargeable, also a fee for bidding on the-saleroom.com only and fee for paying by card. The Rate of Premium is 20% of the final hammer price of each lot. I understand Spink will pursue me for payment for any successful bid. In addition, I understand and consent that Spink may share my personal details relating to the default with other auction houses and live bidding platforms to protect themselves from such defaults. All bids shall be treated as offers made on the Terms and Conditions for Buyers printed in the catalogue. I also understand that Spink provides the service of executing bids on behalf of clients for the convenience of clients and that Spink will not be held responsible for failing to execute bids. If identical commission bids are received for the same Lot, the commission bid received first by Spink will take precedence. Please note that you will not be notified if there are higher written bids received.

PLEASE PRINT CLEARLY IN BLOCK LETTERS AND ENSURE THAT BIDS ARE IN STERLING Lot Number (in numerical order)

TEL. HOME

Price Bid £ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid £ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid £ (excluding Buyer’s Premium)

______________________________________________

TEL. OFFICE ____________________________________________

____________________________________________________

E-MAIL ________________________________________________

SIGNATURE _______________________________________________

VAT NUMBER ___________________________________________

FAX

Please indicate the type of card:

VISA

VISA DEBIT

MASTERCARD

SWITCH

AMERICAN EXPRESS

PAYMENTS MADE BY MASTERCARD OR VISA ARE SUBJECT TO A 2% FEE, AMERICAN EXPRESS 4% AND UK DEBIT CARD £3 CARD NO: SIGNATURE

START DATE: EXPIRY DATE

ISSUE NO:

SECURITY CODE:

NAME (ON CREDIT CARD)

Please charge all purchases to my card Do not charge my card. I will arrange to send payment. (Spink will only charge your card should you default on the payment terms agreed) Please hold my purchased lots for collection

Continued ...

DATE

SALE NO.

Tuesday 12 April 2016 at 2.00 p.m.

16037

PLEASE PRINT CLEARLY IN BLOCK LETTERS AND ENSURE THAT BIDS ARE IN STERLING Lot Number (in numerical order)

Price Bid £ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid £ (excluding Buyer’s Premium)

BIDDING INCREMENTS Bidding generally opens below the low estimate and advances in the following order although the auctioneer may vary the bidding increments during the course of the auction. The normal bidding increments are: Up to £100 £100 to £300 £300 to £600 £600 to £1,000

by £5 by £10 £320-£350-£380-£400 etc. by £50

£1,000 to £3,000 £3,000 to £6,000 £6,000 to £20,000 £20,000 and up

by £100 £3,200-£3,500-£3,800-£4,000 etc. by £500 Auctioneer’s discretion

Lot Number (in numerical order)

Price Bid £ (excluding Buyer’s Premium)

VAT is chargeable on the Hammer price and the Buyer’s premium of daggered (†) and (Ω) lots at the standard rate (currently 20%), and on lots marked (x) at the reduced rate (currently 5% on the Hammer price and 20% on the Buyer’s premium). VAT on Margin Scheme lots (identified by the absence of any VAT symbol next to the lot number) is payable at 20% on the Buyer’s premium only.

REFERENCES REQUIRED FOR CLIENTS NOT YET KNOWN TO SPINK

TRADE REFERENCES

BANK REFERENCES

________________________________________________________________________________________ _____________________________________________________________________________________________________

TERMS AND CONDITIONS FOR BUYERS These conditions set out the terms on which we (Spink and Son Limited of 69 Southampton Row, Bloomsbury London WC1B 4ET (company no. 04369748)) contract with you (Buyer) either as agent on behalf of the Seller or as principal if we are the Seller. You should read these conditions carefully. 1

DEFINITIONS The following definitions apply in these conditions: Auctioneers’ Margin Scheme means a VAT margin scheme as defined by HM Revenue & Customs; Buyer’s Premium means the charge payable by you as a percentage of the Hammer Price, at the rates set out in clause 5.1 below; Certificate of Authenticity means a certificate issued by an Expert Committee confirming the authenticity of a Lot; Expert Committee means a committee of experts to whom a Lot may be sent for an extension in accordance with clause 3.4.3; Forgery means a Lot constituting an imitation originally conceived and executed as a whole with a fraudulent intention to deceive as to authorship, origin, age, period, culture or source where the correct description as to such matters is not reflected by the description in the catalogue and which at the date of the auction had a value materially less than it would have had if it had been in accordance with the description in the catalogue. Accordingly, no Lot shall be capable of being a Forgery by reason of any damage and/or restoration work of any kind (including re-enamelling); Hammer Price means the amount of the highest bid accepted by the auctioneer in relation to a Lot; Lot means any item deposited with us for sale at auction and, in particular, the item or items described against any Lot number in any catalogue; Reserve the amount below which we agree with the Seller that the Lot cannot be sold; Seller means the owner of the Lot being sold by us; Spink Group Spink and Son Limited, our subsidiaries and associated companies. VAT value added tax chargeable under VAT and any similar replacement or additional tax; and VAT Symbols means the symbols detailing the VAT status of the Lot details of which are set out at the back of the catalogue.

SPINK’S ROLE AS AGENT

2.1

All sales undertaken by us either at auction or privately are undertaken either as agent on behalf of the Seller or from time to time, as principal if we are the owner of the Lot. Please note that even if we are acting as agent on behalf of the Seller rather than as principal, we may have a financial interest in the Lot.

2.2

The contract for the sale of the Lot will be between you and the Seller.

3.4.3 If we accept a request for an expert opinion or Certificate of Authenticity we will submit the Lot to the Expert Committee. You acknowledge and accept that the length of time taken by an Expert Committee to reach an opinion will vary depending on the circumstances and in any event is beyond our control. 3.4.4 We will not accept a request for an extension on account of condition. Any Lot described in the catalogue as having faults or defects may not be returned even if an expert opinion or Certificate of Authenticity cites other faults or defects not included in the catalogue description, other than in the case of a Forgery.

BEFORE THE SALE 3.1

3.2

Examination of goods You are strongly advised to examine personally any goods in which you are interested, before the auction takes place. Condition reports are usually available on request. We provide no guarantee to you other than in relation to Forgeries, as set out in clause 5.13 of these Terms and Conditions.

3.4.5 Should Spink accept a request for an extension under the foregoing provisions of this paragraph, the fact may be stated by the Auctioneer from the rostrum prior to the sale of the Lot. 3.4.6 It should be noted that any stamp accompanied by a Certificate of Authenticity is sold on the basis of that Certificate only and not on the basis of any other description or warranty as to authenticity. No request for an extension will be accepted on such a stamp and the return of such a stamp will not be accepted.

Catalogue descriptions 3.2.1 Statements by us in the catalogue or condition report, or made orally or in writing elsewhere, regarding the authorship, origin, date, age, size, medium, attribution, genuineness, provenance, condition or estimated selling price of any Lot are merely statements of opinion, and are not to be relied on as statements of definitive fact. Catalogue and web illustrations are for guidance only, and should not be relied on either to determine the tone or colour of any item. No lot shall be rejected on the grounds of inaccurate reproduction. No lot illustrated in the catalogue and online shall be rejected on the grounds of cancellation, centring, margins, perforation or other characteristics apparent from the illustration. Estimates of the selling price should not be relied on as a statement that this price is either the price at which the Lot will sell or its value for any other purpose. 3.2.2 Many items are of an age or nature which precludes their being in perfect condition and some descriptions in the catalogue or given by way of condition report make reference to damage and/or restoration. We provide this information for guidance only and the absence of such a reference does not imply that an item is free from defects or restoration nor does a reference to particular defects imply the absence of any others.

3.4.7 If you receive any correspondence from the Expert Committee in relation to the Lot, including but not limited to a Certificate of Authenticity, you must provide us with copies of such correspondence no later than 7 days after you receive such correspondence. 4

AT THE SALE 4.1

Refusal of admission Our sales usually take place on our own premises or premises over which we have control for the sale, and we have the right, exercisable at our complete discretion, to refuse admission to the premises or attendance at an auction.

4.2

Registration before bidding You must complete and sign a registration form and provide identification before making a bid at auction. Please be aware that we usually require buyers to undergo a credit check. If you have not bid successfully with Spink in the past, or you are registering with us for the first time, we reserve the right to require a deposit of up to 50% of the amount you intend to spend. Such deposit will be deducted from your invoice should you be successful. If you are unsuccessful at auction, your deposit will be returned by the same means it was paid to Spink. Some lots may be designated, prior to the auction, as “Premium Lots”, which means a deposit may be required before placing a bid on the item for sale. Information will be posted on our website in such an event.

4.3

Bidding as Principal When making a bid (whether such bids are made in person or by way of telephone bids operated by Spink, commission or online or email bids), you will be deemed to be acting as principal and will be accepting personal liability, unless it has been agreed in writing, at the time of registration, that you are acting as agent on behalf of a third party buyer acceptable to us.

4.4

Commission Bids If you give us instructions to bid on your behalf, by using the form provided in our catalogues or via our website, we shall use reasonable endeavours to do so, provided these instructions are received not later than 24 hours before the auction. If we receive commission bids on a particular Lot for identical amounts, and at auction these bids are the highest bids for the Lot, it will be sold to the person whose bid was received first. Commission bids are undertaken subject to other commitments at the time of the sale, and the conduct of the auction may be such that we are unable to bid as requested. Since this is undertaken as a free service to prospective buyers on the terms stated, we cannot accept liability for failure to make a commission bid. You should therefore always attend personally if you wish to be certain of bidding.

3.2.3 Other than as set out in clause 5.13, and in the absence of fraud, neither the Seller nor we, nor any of our employees or agents, are responsible for the correctness of any statement as to the authorship, origin, date, age, attribution, genuineness or provenance of any Lot nor for any other errors of description or for any faults or defects in any Lot. Every person interested should exercise and rely on his own judgment as to such matters. 3.3

Your Responsibility You are responsible for satisfying yourself as to the condition of the goods and the matters referred to in the catalogue description.

3.4

Extensions – Stamps only 3.4.1 If you wish to obtain an expert opinion or Certificate of Authenticity on any Lot (other than a mixed Lot or Lot containing undescribed stamps) you must notify us in writing not less than forty-eight hours before the time fixed for the commencement of the first session of the sale. If accepted by us, such request shall have the same effect as notice of an intention to question the genuineness or description of the Lot for the purposes of clause 5.13 (Refund in the case of Forgery) of these Terms and Conditions and the provisions of clause 5.13 (Refund in the case of Forgery) shall apply accordingly. 3.4.2 Notice of a request for an expert opinion or Certificate of Authenticity must give the reason why such opinion is required and specify the identity of your proposed expert which will be subject to agreement by us. We reserve the right, at our discretion, to refuse a request for an expert opinion or Certificate of Authenticity including (without limitation) where the proposed expert is not known to us.

January/16

4.5

On-line Bidding We offer internet services as a convenience to our clients. We will not be responsible for errors or failures to execute bids placed on the internet, including, without limitation, errors or failures caused by (i) a loss of internet connection by either party for whatever reason; (ii) a breakdown or problems with the online bidding software and/or (iii) a breakdown or problems with your internet connection, computer or system. Execution of on-line internet bids on www.spink.com and Spink Live is a free service undertaken subject to other commitments at the time of the auction and we do not accept liability for failing to execute an online internet bid or for errors or omissions in connection with this activity. Buyers who acquire lots on the-saleroom.com will have a fee of 3% on the hammer price added to their invoice for using this facility.

4.6

Telephone Bids If you make arrangements with us not less than 24 hours before the sale, we shall use reasonable endeavours to contact you to enable you to participate in bidding by telephone, but in no circumstances will we be liable to either the Seller or you as a result of failure to do so.

4.7

Currency Converter At some auctions, a currency converter will be operated, based on the one month forward rates of exchange quoted to us by Barclays Bank Plc or any other appropriate rate determined by us, at opening on the date of the auction. Bidding will take place in a currency determined by us, which is usually sterling for auctions held in London. The currency converter is not always reliable, and errors may occur beyond our control either in the accuracy of the Lot number displayed on the converter, or the foreign currency equivalent of sterling bids. We shall not be liable to you for any loss suffered as a result of you following the currency converter.

4.8

Video images At some auctions there will be a video screen. Mistakes may occur in its operation, and we cannot be liable to you regarding either the correspondence of the image to the Lot being sold or the quality of the image as a reproduction of the original.

4.9

Bidding Increments Bidding generally opens below the low estimate and advances in the following order although the auctioneer may vary the bidding increments during the course of the auction. The normal bidding increments are: Up to £100 by £5 £100 to £300 by £10 £300 to £600 £320-£350-£380-£400 etc. £600 to £1,000 by £50 £1,000 to £3,000 by £100 £3,000 to £6,000 £3,200-£3,500-£3,800-£4,000 etc. £6,000 to £20,000 by £500 £20,000 and up Auctioneer’s discretion

5.2

5.3

4.10 Bidding by Spink 4.10.1 We reserve the right to bid on Lots on the Seller’s behalf up to the amount of the Reserve (if any), which will never be above the low estimate printed in the auction catalogue. 4.10.2 The Spink Group reserves the right to bid on and purchase Lots as principal. 4.11 The Auctioneer’s Discretion The auctioneer has the right at his absolute discretion to refuse any bid to advance the bidding in such manner as he may decide to withdraw or divide any Lot, to combine any two or more Lots and, in the case of error or dispute, to put an item up for bidding again. 4.12 Successful Bid Subject to the auctioneer’s discretion, the striking of his hammer marks the acceptance of the highest bid, provided always that such bid is higher than the Reserve (where applicable), and the conclusion of a contract for sale between you and the Seller. 4.13 After Sale Arrangements If you enter into any private sale agreements for any Lot with the Seller within 60 days of the auction, we, as exclusive agents of the Seller reserve the right to charge you the applicable Buyer’s Premium in accordance with these Terms and Conditions, and the Seller a commission in accordance with the terms of the Seller’s agreement. 4.14 Return of Lot 4.14.1 Once your bid has been accepted for a Lot then you are liable to pay for that Lot in accordance with these Terms and Conditions. If there are any problems with a Lot then you must notify us within 7 days of receipt of the Lot, specifying the nature of the problem. We may then request that the Lot is returned to us for inspection. Save as set out in clause 5.13, the cancellation of the sale of any Lot and the refund of the corresponding purchase price is entirely at our sole discretion. We will not normally exercise that discretion if the Lot is not received by us in the same condition that it was in at the auction date. 4.14.2 No lot may be returned on account of condition if the condition was stated by a third party grading company (including, but not limited to PCGS, NGC, ANACS, ICG, PMG, WBG). 5

AFTER THE AUCTION 5.1 Buyer’s Premium and other charges In addition to the Hammer Price, you must pay us the Buyer’s Premium at a rate of 20% of the final Hammer price of each lot, a fee of 3% on the hammer price total for using the-saleroom.com and a fee for paying by card.

January/16

5.4

Value Added Tax Other than in respect of Zero-rated Lots (o) VAT is chargeable on the Hammer price and the Buyer’s premium of daggered (†) and (Ω) lots at the standard rate (currently 20%), and on lots marked (x) at the reduced rate (currently 5% on the Hammer price and 20% on the Buyer’s premium). VAT on Margin scheme lots (identified by the absence of any VAT symbol next to the lot number) is payable at 20% on the Buyer’s premium only. VAT Refunds General 5.3.1 As we remain liable to account for VAT on all Lots unless they have been exported outside the EU within 3 months of the date of sale, you will generally be asked to deposit all amounts of VAT invoiced. However, if a Spink nominated shipper is instructed, then any refundable VAT will not be collected. In all other cases credits will be made when proof of export is provided. If you export the Lot yourself you must obtain shipping documents from the Shipping Department for which a charge of £50 will be made. 5.3.2 If you export the Lot you must return the valid proof of export certificate to us within 3 months of the date of sale. If you fail to return the proof of export certificate to us within such period and you have not already accounted to us for the VAT, you will be liable to us for the full amount of the VAT due on such Lot and we shall be entitled to invoice you for this sum. 5.3.3 To apply for a refund of any VAT paid, the proof of export certificate must be sent to our Shipping Department clearly marked ‘VAT Refund’ within 3 months of the date of sale. No payment will be made where the total amount of VAT refundable is less than £50 and Spink will charge £50 for each refund processed. VAT Refunds - Buyers from within the EU 5.3.4 VAT refunds are available on the Hammer Price and Buyer’s Premium of Daggered (†) and Investment Gold (g) Lots. You must certify that you are registered for VAT in another EU country and that the Lot is to be removed from the United Kingdom within 3 months of the date of sale. 5.3.5 Where an EU buyer purchases a Lot on which import VAT has been charged, no refund of VAT is available from us. It may be possible to apply directly for a refund on form VAT 65 to HM Revenue & Customs Overeseas Repayment Section, Londonderry. VAT Refunds – Buyers from outside the EU 5.3.6 Where a Lot is included within the Auctioneers’ Margin Scheme and evidence of export from the EU is produced within 3 months of the date of sale, the VAT on Buyer’s Premium may be refunded. 5.3.7 Where the Lot is marked as a Daggered (†) or Investment Gold (g) Lot the VAT charged on the Hammer Price may be refunded where evidence of export from the EU is produced within 3 months of the date of sale. A refund of VAT charged on the Buyer’s Premium can also be made on receipt of proof of business as a collectibles dealer. 5.3.8 Where the Lot is marked as an Omega (Ω) Lot or an Import VAT (x) Lot and evidence of export from the EU is produced within 3 months of the date of sale, the VAT charged on both the Hammer Price and Buyer’s Premium may be refunded. Where required, we can advise you on how to export such Lots as a specific form of export evidence is required. Where we advise you on the export of the Lots, please be aware that the ultimate responsibility in respect of obtaining a valid proof of export certificate will lie with you and we will not be responsible for your failure to obtain such certificate. Payment 5.4.1 You must provide us with your full name and permanent address and, if so requested, details of the bank from which any payments to us will be made. You must pay the full amount due (comprising the Hammer Price, the Buyer’s Premium and any applicable VAT) within seven days after the date of the sale. This applies even if you wish to export the Lot and an export licence is (or may be) required. 5.4.2 You will not acquire title to the Lot until all amounts due have been paid in full. This includes instances where special arrangements were made for release of Lot prior to full settlement. 5.4.3 Payment should be made in sterling by one of the following methods: II(i) Direct bank transfer to our account details of which are set out on the invoice. All bank charges shall be met by you. Please ensure that your client number is noted on the transfer. i(ii) By cheque or bank draft made payable to Spink and Son Ltd and sent to Spink at 69 Southampton Row, Bloomsbury, London WC1B 4ET. Please note that the processing charges for payments made by cheques or bank drafts drawn on a non-U.K bank shall be met by you. Please ensure that the remittance slip printed at the bottom of the invoice is enclosed with your payment. (iii) By Visa, Mastercard or American Express. Payments made by UK issued personal debit cards are subject to a £3 fee. Payments made by American Express are subject to a 4% fee. All other credit and debit card payments are subject to a fee of 2%. For all card payments there are limits to the amounts we will accept depending on the type of card being used and whether or not the cardholder is present. 5.4.4 Payments should be made by the registered buyer and not by third parties, unless it has been agreed at the time of registration that you are acting as an agent on behalf of a third party.

Invoices Invoices may consist of one or more pages and will show: Zero rated Lots (o); no symbol Lots sold under the Auctioneers’ Margin Scheme; Lots marked (g) special scheme Investment Gold; Daggered Lots (†), imported Lots marked (x) and (Ω), (e) Lots with Zero rated hammer for EU VAT registered buyers. 5.6 Collection of Purchases 5.6.1 Unless specifically agreed to the contrary, we shall retain lots purchased until all amounts due to us, or to the Spink Group, have been paid in full. Buyers will be required to pay for their lots when they wish to take possession of the same, which must be within 7 days of the date of the sale, unless prior arrangements have been made with Spink. Without prior agreement, lots will not be released until cleared funds are received with regard to payments made by cheque. 5.6.2 Unless we notify you to the contrary, items retained by us will be covered in accordance with our policy which is available for inspection at our offices from the date of sale for a period of seven days or until the time of collection, whichever is sooner. After seven days or from the time of collection, whichever is the earlier, the Lot will be entirely at your risk. 5.6.3 Our policy will not cover and we are unable to accept responsibility for damage caused by woodworm, changes in atmospheric conditions or acts of terrorism. 5.7 Notification We are not able to notify successful bidders by telephone. While Invoices are sent out by mail after the auction we do not accept responsibility for notifying you of the result of your bid. You are requested to contact us by telephone or in person as soon as possible after the auction to obtain details of the outcome of your bids to avoid incurring charges for late payment. 5.8 Packing and handling 5.8.1 We shall use all reasonable endeavours to take care when handling and packing a purchased Lot but remind you that after seven days or from the time of collection, whichever is sooner, the Lot is entirely at your risk. Our postage charges are set out at the back of the catalogue. 5.8.2 It is the responsibility of the Buyer to be aware of any Import Duties that may be incurred upon importation to the final destination. Spink will not accept return of any package in order to avoid these duties. The onus is also on the Buyer to be aware of any Customs import restrictions that prohibit the importation of certain collectibles. Spink will not accept return of the Lot(s) under these circumstances. Spink will not accept responsibility for Lot(s) seized or destroyed by Customs. 5.8.3 If the Buyer requires delivery of the Lot to an address other than the invoice address this will be carried out at the discretion of Spink. 5.9 Recommended packers and shippers If required our shipping department may arrange shipment as your agent. Although we may suggest carriers if specifically requested, our suggestions are made on the basis of our general experience of such parties in the past and we are not responsible to any person to whom we have made a recommendation for the acts or omissions of the third parties concerned. 5.10 Remedies for non-payment or failure to collect purchases 5.10.1 If you fail to make payment within seven days of your stipulated payment date set out in your invoice, we shall be entitled to exercise one or more of the following rights or remedies: 5.10.1.1 to charge interest at the rate of 2% per month compound interest, calculated on a daily basis, from the date the full amount is due; 5.10.1.2 to set off against any amounts which the Spink Group may owe you in any other transaction the outstanding amount remaining unpaid by you; 5.10.1.3 we may keep hold of all or some of your Lots or other property in the possession of the Spink Group until you have paid all the amounts you owe us or the Spink Group, even if the unpaid amounts do not relate to those Lots or other property. Following fourteen days’ notice to you of the amount outstanding and remaining unpaid, the Spink Group shall have the right to arrange the sale of such Lots or other property. We shall apply the proceeds in discharge of the amount outstanding to us or the Spink Group, and pay any balance to you; 5.10.1.4 where several amounts are owed by you to the Spink Group in respect of different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not you so direct; 5.10.1.5 to reject at any future auction any bids made by you or on your behalf or obtain a deposit from you before accepting any bids. 5.10.2 If you fail to make payment within thirty-five days, we shall in addition be entitled: 5.10.2.1 to cancel the sale of the Lot or any other item sold to you at the same or any other auction; 5.10.2.2 to arrange a resale of the Lot, publicly or privately, and, if this results in a lower price being obtained, claim the balance from you together with all reasonable costs including a 20% seller’s commission, expenses, damages, legal fees, commissions and premiums of whatever kind associated with both sales or otherwise, incurred in connection with your failure to make payment;

5.5

January/16

5.10.2.3 when reselling the Lot, place a notice in our catalogue stating that you successfully purchased the Lot at auction but have subsequently failed to pay the Hammer Price of the Lot; or 5.10.2.4 take any other appropriate action as we deem fit. 5.10.3 If you fail to collect within fourteen days after the sale, whether or not payment has been made, you will be required 5.10.3.1 to pay a storage charge of £2 per item per day plus any additional handling cost that may apply. 5.10.3.2 you will not be entitled to collect the Lot until all outstanding charges are met, together with payment of all other amounts due to us. 5.11 Uses of default information If you fail to make payment for a Lot in accordance with these Terms and Conditions: 5.11.1 We reserve the right to refuse you the right to make bids for any future auction irrespective of whether previous defaults have been settled; and 5.11.2 You consent to us disclosing details of such default to other auctioneers and live bidding platforms, which will include your name, address, nature of the default and the date of the default. Auctioneers or live bidding platforms who receive details of the default may rely on such information when deciding whether to enter into a transaction with you in the future. 5.12 Export Licence 5.12.1 If required we can, at our discretion, advise you on the detailed provisions of the export licensing regulations. Where we advise you in relation to export licensing regulations the ultimate responsibility in respect of any export will lie with you and we will not be responsible for your failure to apply for any necessary licences. 5.12.2 If the Lot is going to be hand carried by you, you may be required to produce a valid export licence to us or sign a waiver document stating that a licence will be applied for. 5.12.3 You should always check whether an export licence is required before exporting. Export licences are usually obtained within two or three weeks but delays can occur. 5.12.4 Unless otherwise agreed by us in writing, the fact that you wish to apply for an export licence does not affect your obligation to make payment within seven days nor our right to charge interest on late payment. 5.12.5 If you request that we apply for an export licence on your behalf, we shall be entitled to recover from you our disbursements and out of pocket expenses in relation to such application, together with any relevant VAT. 5.12.6 We will not be obliged to rescind a sale nor to refund any interest or other expenses incurred by you where payment is made by you despite the fact that an export licence is required. 5.13 Refund in the case of Forgery 5.13.1 A sale will be cancelled, and the amount paid refunded to you if a Lot (other than a miscellaneous item not described in the catalogue) sold by us proves to have been a Forgery. We shall not however be obliged to refund any amounts if either (a) the catalogue description or saleroom notice at the auction date corresponded to the generally accepted opinion of scholars or experts at that time, or fairly indicated that there was a conflict of opinions, or (b) it can be demonstrated that the Lot is a Forgery only by means of either a scientific process not generally accepted for use until after publication of the catalogue or a process which at the date of the auction was unreasonably expensive or impracticable or likely to have caused damage to the Lot. Furthermore, you should note that this refund can be obtained only if the following conditions are met: 5.13.1.1 you must notify us in writing, within seven days of the receipt of the Lot(s), that in your view the Lot concerned is a Forgery; 5.13.1.2 you must then return the item to us within fourteen days from receipt of the Lot(s), in the same condition as at the auction date; and 5.13.1.3 as soon as possible following return of the Lot, you must produce evidence satisfactory to us that the Lot is a Forgery and that you are able to transfer good title to us, free from any third party claims. 5.13.1.4 you must provide to us all evidence obtained by you that a Lot is a Forgery no later than 7 days after you receive such evidence. 5.13.2 In no circumstances shall we be required to pay you any more than the amount paid by you for the Lot concerned and you shall have no claim for interest. 5.13.3 The benefit of this guarantee is not capable of being transferred, and is solely for the benefit of the person to whom the original invoice was made out by us in respect of the Lot when sold and who, since the sale, has remained the owner of the Lot without disposing of any interest in it to any third party. 5.13.4 We shall be entitled to rely on any scientific or other process to establish that the Lot is not a Forgery, whether or not such process was used or in use at the date of the auction. 6

LIABILITY Nothing in these Terms and Conditions limits or excludes our liability for: 6.1 death or personal injury resulting from negligence; or 6.2 any damage or liability incurred by you as a result of our fraud or fraudulent misrepresentation.

USE OF YOUR PERSONAL INFORMATION 7.1 We will use the personal information you provide to us to: 7.1.1 process the bids you make on Lots (whether successful or otherwise) and other auction related services we provide; 7.1.2 process your payment relating to a successful purchase of a Lot; 7.1.3 arrange for delivery of any Lot you purchase, which will include passing your details to shipping providers and, on overseas deliveries, to customs where they make enquiries regarding the Lot; 7.1.4 inform you about similar products or services that we provide, but you may stop receiving these at any time by contacting us. 7.2 In accordance with clause 4.2, you agree that we may pass your information to credit reference agencies and that they may keep a record of any search that they do. 7.3 In accordance with clause 5.11, you agree that where you default on making payment for a Lot in accordance with these terms and conditions we may disclose details of such default to other auctioneers and live bidding platforms. 7.4 We are also working closely with third parties (including, for example, other auctioneers and live bidding platforms) and may receive information about you from them. COPYRIGHT 8.1 We shall have the right (on a non-exclusive basis) to photograph, video or otherwise produce an image of the Lot. All rights in such an image will belong to us, and we shall have the right to use it in whatever way we see fit. 8.2 The copyright in all images, illustrations and written material relating to a Lot is and shall remain at all times our property and we shall have the right to use it in whatever way we see fit. You shall not use or allow anyone else to use such images, illustrations or written material without our prior written consent. VAT You shall give us all relevant information about your VAT status and that of the Lot to ensure that the correct information is printed in the catalogues. Once printed, the information cannot be changed. If we incur any unforeseen cost or expense as a result of the information being incorrect, you will reimburse to us on demand the full amount incurred.

10 NOTICES All notices given under these Terms and Conditions may be served personally, sent by 1st class post, or faxed to the address given to the sender by the other party. Any notice sent by post will be deemed to have been received on the second working day after posting or, if the addressee is overseas, on the fifth working day after posting. Any notice sent by fax or served personally will be deemed to be delivered on the first working day following despatch. 11 ADDITIONAL PROVISIONS The following provisions of this clause 10 shall apply only if you are acting for the purposes of your business. 11.1 Limitation of Liability Subject to clause 6, we shall not be liable, whether in tort (including for negligence) or breach of statutory duty, contract, misrepresentation or otherwise for any: 11.1.1 loss of profits, loss of business, depletion of goodwill and/or similar losses, loss of anticipated savings, loss of goods, loss of contract, loss of use, loss of corruption of data or information; or 11.1.2 any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses. 11.2 Severability If any part of these Terms and Condition is found by any court to be invalid, illegal or unenforceable, that part may be discounted and the rest of the conditions shall continue to be valid and enforceable to the fullest extent permitted by law. 11.3 Force majeure We shall have no liability to you if we are prevented from, or delayed in performing, our obligations under these Terms and Conditions or from carrying on our business by acts, events, omissions or accidents beyond our reasonable control, including (without limitation) strikes, lock-outs or other industrial disputes (whether involving our workforce or the workforce of any other party), failure of a utility service or transport network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or default of suppliers or subcontractors. 11.4 Waiver 11.4.1 A waiver of any right under these Terms and Conditions is only effective if it is in writing and it applies only to the circumstances for which it is given. No failure or delay by a party in exercising any right or remedy under these Terms and Conditions or by law shall constitute a waiver of that (or any other) right or remedy, nor preclude or restrict its further exercise. No single or partial exercise of such right or remedy shall preclude or restrict the further exercise of that (or any other) right or remedy. 11.4.2 Unless specifically provided otherwise, rights arising under these Terms and Conditions are cumulative and do not exclude rights provided by law.

January/16

11.5 Law and Jurisdiction 11.5.1 These Terms and Conditions and any dispute or claim arising out of or in connection with them or their subject matter, shall be governed by, and construed in accordance with, the law of England and Wales. 11.5.2 The parties irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of, or in connection with, Terms and Conditions or their subject matter.

Postal Charges Prices for books (items sent by this method are not covered by insurance) Weight

Rest of the World

Up to 1kg

£8 for any weight

£12

£15

Up to 2kg

£8 for any weight

£18

£25

Prices for all other items including postage and packaging Invoice Value

Rest of the World

Up to £1,500

£10

£15

£20

Up to £10,000

£20

£30

£40

Above £10,001

£20

£50

£60

Shipments of more than 2kg or volumetric measurement of more than 2kg have to be sent by courier. Certain countries may incur extra charge when courier services are required by our insurance policy. For lots sent by courier please contact Auctionteam@spink.com for calculation of any further relevant cost in addition to the above charges. Value Added Tax (VAT) Charging of (VAT) at Auction The information shown on this page sets out the way in which Spink intends to account for VAT. i.

Auctioneers’ Margin Scheme 1. Where possible, we will offer Lots for sale under the Auctioneers’ Margin Scheme. Such Lots can be identified by the absence of any VAT symbol next to the Lot number in the catalogue and will not be subject to VAT on the Hammer Price. 2. Where Lots are sold using the Auctioneers’ Margin Scheme to UK VAT–registered businesses, the VAT on Buyers’ Premium is not recoverable as input tax. Upon request on sale day, we will issue invoices that show VAT separately on both the Hammer Price and the Buyer’s Premium. This will enable VAT-registered businesses to recover the VAT charged as input tax, subject to the normal rules for recovering input tax.

ii.

Zero-Rated Lots Limited Categories of goods, such as books, are Zero-rated (o) for VAT in the United Kingdom. Such Lots are offered under the Auctioneers’ Margin Scheme. In these circumstances no VAT will be added to the Buyer’s premium.

iii.

Daggered Lots Lots which are Daggered (†) in the catalogue are subject to VAT at 20% on both the Hammer Price and the Buyer’s Premium.

iv.

Imported and Omega Lots Lots which are marked (x) in the catalogue are subject to VAT at 5% on the Hammer price plus 20% on the Buyer’s premium. Lots which bear the Omega symbol (Ω) are subject to VAT at 20% on the Hammer Price and on the Buyer’s Premium. This VAT is payable on items imported from outside the EU. In these cases we have used a temporary importation procedure, which in effect means that the point of importation is deferred until the Lot has been sold. At this point the Buyer is treated as the importer and is liable to pay the import VAT due. We will collect the VAT from you and pay it to HM Customs and Excise on your behalf.

Investment Gold Lots Lots marked (g) in the catalogue are exempt from VAT on the Hammer Price and are subject to VAT at 20% on the Buyer’s Premium. A refund of VAT charged on the Buyer’s Premium can also be made on receipt of proof of business as a collectibles dealer outside of the EU.

GROUP CHAIRMAN AND CEO Olivier D. Stocker

SALE CALENDAR 2016

STAMPS 23 February 23 February 24 February 27-28 April May June 11 June 22 June 6-7 July 13 July

22 March 22 March 22/23 March 7 April 12 May 22/23 June 29 June 29/30 June 25 August

16038 16024 16023 16027 154 155 CSS18 16029 16030 16043

London London London Hong Kong London New York

16019 16014 16004 CSS21 16042 324

London London Hong Kong

16020 16005 CSS23

Hong Kong London London New York London Hong Kong

CSS21 16037 16008 324 16009 CSS23

Orders, Decorations, Campaign Medals & Militaria Orders, Decorations, Campaign Medals & Militaria

London London

16001 16002

The Numismatic Collector’s Series Sale Bonds & Share Certificates of the World The Numismatic Collector’s Series Sale The Numismatic Collector’s Series Sale

Hong Kong London New York Hong Kong

CSS21 16017 324 CSS23

The Numismatic Collector’s Series Sale Autographs, Historical Documents, Ephemera and Postal History

New York London

324 16043

An Evening of Great Whiskies and Spirits An Evening of Great Whiskies and Spirits

Hong Kong Hong Kong

SFW19 SFW20

BANKNOTES 7 April 12 April 12/13/14 April 22/23 June 5 July 25 August MEDALS 21 April 21 July BONDS & SHARES 7 April 20 May 22/23 June 25 August AUTOGRAPHS 22/23 June 13 July WINES

YOUR ASIA TEAM (HONG KONG - SINGAPORE)

8 April 23 June

The above sale dates are subject to change Ken Imase kimase@spink.com

London London London London New York New York Hong Kong London London London

COINS

Auctioneer Stephen Goldsmith (Special Consultant) Administration Angie Ihlo Fung Newton Tsang Sue Pui Arthur Chan Doris Lo Gary Tan

£25

 THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA

THE BRUCE SMART COLLECTION OF MIDDLE EAST AND NORTH AFRICA



LONDON

69 Southampton Row, Bloomsbury, London WC1B 4ET www.spink.com

12 APRIL 2016



STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

12 APRIL 2016