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New Zealand 1916–1920 Bank of New Zealand £5 Red-Rose wartime specimen from the BNZ orange lineage, Pick S227s, serial prefix 7/180001–7/220000, PMG 65 EPQ Top Pop

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

Within the BNZ color lineage, the £5 denomination occupies the warm-tone tier established by the pre-war £5 Orange issues of 1895–1915. Wartime pigment constraints and paper rationing produced a tonal shift toward red-rose or salmon while preserving the same functional position within the denomination hierarchy. This note documents the wartime evolution of that established £5 color lineage, not a separate color class. Read more →

New ZealandSpecimen with Serial Number Prefix19165 PoundsPMG 65 EPQ Gem Uncirculated (Top Pop) Specimen5 PoundsRed-RoseBNZ Color LineageOrange LineageWith Serial PrefixPrinter AnnotationCANCELLED PerforationHigh DenominationBradbury WilkinsonBWCPick S227sBank of New ZealandPrivate Banknote EraPre-Reserve BankWartime IssueNew Zealand Banking HistoryMāori Portrait SeriesMaritime Economy NotesSecurity Printing HistoryNew Zealand191619201916–1920Top PopPMG 65 EPQMuseum GradeR8 Extremely RareAnnotationsHandwritten Annotations
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Uruguay 1939 Banco de la Republica Oriental del Uruguay 50 centesimos issued banknote, Serie H, Pick 34, graded PMG 67 Exceptional Paper Quality, red serial numbers, printed by Casa de Moneda de Chile

Uruguay 1939 - Banco de la Republica Oriental del Uruguay 50 Centesimos Issued Note Serie H (Pick 34)

The reverse displays a symmetrical ornamental design centered on the national coat of arms within layered rosette geometry. The denomination 0.50 is repeated in the corners, reinforcing legibility and functional clarity. The engraving style reflects the disciplined late-interwar production standards of Casa de Moneda de Chile, the printer responsible for this issue. Read more →

UruguayIssued Banknote193950 CentesimosPMG 67 Exceptional Paper Quality Issued Banknote50 CentesimosSerie HRed Serial NumbersNational Coat of ArmsJulio Solsona Flores SignatureJulian A. Illich SignatureOscar Goldie Arenas SignatureCasa de Moneda de ChileBanco de la Republica Oriental del UruguayMonetary Law 2 January 1939Interwar Monetary ReformState Issued CurrencyUruguay1939PMG 67 Exceptional Paper QualityTop PopPick 34Museum Grade
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The Remainder Problem: Why Unissued Notes Survive

Why weren’t they signed? Because signatures turned paper into liability. Until a note carried the required autographs of authorized officers, it wasn’t a promise — it was stationery. This made unsigned stock safe to retain or even sell as scrap. The danger arose when enterprising collectors, printers’ employees, or even ex-bank clerks realized that unsigned money looked just as interesting as signed money. By the late 19th century, “unissued” notes had entered the collector market, often sold in batches by dealers who had bought out old print shops or liquidation lots.

Uruguay 1939 Banco de la Republica Oriental del Uruguay 50 Pesos Serie C specimen, Specimen No. 9, Pick 38bs, with all-zero serial numbers, diagonal red SPECIMEN overprint, red oval printer control stamps, Indigenous warrior portrait, Jose Gervasio Artigas watermark, and ceremonial historical reverse, certified Paper Money Guaranty 65 Gem Uncirculated Exceptional Paper Quality

Uruguay 1939 - Banco de la Republica Oriental del Uruguay 50 Pesos Serie C Specimen, Specimen No. 9 (Pick 38bs)

Issued by the Banco de la Republica Oriental del Uruguay, this 1939 fifty pesos specimen preserves the completed Serie C form of one of the most visually distinctive denominations in Uruguay's interwar monetary program. Printed by Thomas De La Rue and Company Limited, the note carries all-zero serial numbers, the separately assigned designation Specimen No. 9, a diagonal red SPECIMEN overprint, and oval printer control stamps that establish its official reference status.

Red SPECIMEN Overprint Red Oval Printer Control Stamps Feathered Headdress Numbered Institutional Specimen
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