Collection PL

New Zealand 1916-1920 - Bank of New Zealand £5 Red-Rose (Orange Lineage) with Serial Number Prefix Specimen (Pick S227s)

The specimen carries dual live serial prefixes (7/180001–7/220000), confirming its place within an active production range. The perforated CANCELLED across the signature panel prevented circulation, while the pencil annotation dated 29 September 1917 corresponds to the production record associated with the piece. PMG records this feature as Printer’s Annotation. Read more →

Portugal 1917 - Banco de Portugal 50 Mil Réis Specimen (Pick 110s)

The 50 Mil Réis embodied the young Republic’s drive to project prestige after the fall of the monarchy. Its monumental allegory-Commerce and Industry flanking the national arms-was conceived as wartime inflation eroded confidence in paper currency. Surviving specimens are exceedingly rare; the PMG census records only two graded examples of Pick 110s worldwide. Read more →

Portugal 1917 - Banco de Portugal 50 Mil Réis Front Progressive Proof (Pick 110pp1)

Viewed alongside the matching specimen (Pick 110s), it completes the evolution from concept to circulation design-capturing Portugal’s reliance on British engraving houses for security printing during the First Republic and offering one of the only fully traceable proof-to-specimen pairs known for any pre-Escudo denomination. Read more →

Russia 1920 - Armed Forces of South Russia 100,000 Rubles Treasury Bill (November Issue, Pick S431c)

Six-percent short-term Treasury bill for 100,000 rubles issued by the Government Treasury of the Armed Forces of South Russia during the final phase of the Russian Civil War. This is the November 15, 1920 payable issue (Pick S431c), printed after General Pyotr Wrangel transferred the White administration to Crimea. The note follows the classical Imperial layout: bilingual Russian–French legends, the double-headed eagle in an ornate oval cartouche at left, and a formal typographic bond structure intended to signal continuity with pre-1917 state finance. Read more →

United States 1934 - New Jersey 1 Dollar City of Asbury Park Tax Anticipation Note Recovery Bond Specimen (March 31 Issue)

Tax anticipation notes were legally authorized short-term obligations designed to transform expected tax receipts into immediate operating funds. In early 1934, Asbury Park employed this mechanism to sustain daily municipal functions and preserve fiscal continuity while awaiting the collection of property and other local taxes. The issue was authorized pursuant to Chapter 192 of the Laws of 1917 of the State of New Jersey, as amended, placing it within an established statutory framework rather than emergency improvisation. Read more →

United States 1934 - New Jersey 5 Dollars City of Asbury Park Tax Anticipation Note Recovery Bond Specimen (March 31 Issue)

Tax anticipation notes were legally sanctioned debt instruments designed to convert expected tax revenues into immediate operating capital. In early 1934, municipalities such as Asbury Park relied on these instruments to maintain essential civic functions, meet payroll obligations, and sustain public services while awaiting the collection of property and other local taxes. This issue was authorized pursuant to Chapter 192 of the Laws of 1917 of the State of New Jersey, as amended, situating it within an established statutory framework rather than an improvised emergency measure. Read more →

United States 1934 - New Jersey 10 Dollars City of Asbury Park Tax Anticipation Note Recovery Bond Specimen (March 31 Issue)

Tax anticipation notes were not emergency substitutes or informal scrip, but legally sanctioned debt instruments issued in advance of expected tax receipts. In early 1934, municipalities such as Asbury Park were compelled to monetize future tax income in order to meet immediate operating expenses, maintain essential services, and avoid default. This note was issued pursuant to Chapter 192 of the Laws of 1917 of the State of New Jersey, as amended, anchoring it firmly within an established statutory framework rather than ad hoc crisis improvisation. Read more →