Edinburgh Auction Report?

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Scottishmoney wrote:

?

Who me?

It was a very warm sunny day.

It was thought that a Joint Stock Banking Company £1 of 1840 would be
the first Scottish note to reach the £5,000 mark but it sold for £4,830
including the buyer's premium, very close. It sold for £3,795 at the
Pringle auction of May 2003.

Three other notes, or four, however did break the £5,000 barrier, I'll
give exact details later.

About 40 attended the auction with many bids "on the book" and I got Mr.
Macmillan to sign my catalogue, "Mr. McIntyre" was not there as far as
we know.

As I feared the large number of proofs notes were too many with quite a
number unsold, this a small interest area for collectors with the
majority preferring a tatty issued note to a pristine proof one, even if
issued notes are unknown collectors mostly are not willing to pay £400+
for a proof note. There were exceptions of course with some proofs
going very high.

I got two lots, a Dumfries Commercial Bank guinea of 1804 in very good
to fine, these appear on ebay but the one I got is unusual in not having
large holes or damage.

The second lot had three notes, East Lothian £1 1821, partially issued
VF++. Stornaway £1 1823 partially issued VF++. Commercial Bank £1 1820
contemporary counterfeit, EF. A nice assortment of three notes, I
already had a similar Commercial one but another is ok as the date is
different, I've not yet been able to check if they are from the same
printing plate, the signatures are printed and not hand signed as they
should be.

There's one collector that all other collectors dread to see at
auctions, and he was there, the reason? He spent his usual £30,000
approx., I've not totalled it up yet, so when he is there it's difficult
for those of more modest means to get what they are after. Those
looking for notes in the couple of £1,000 range and above were mostly
not successful against Mr Moneybags.

The afternoon session ran from 2.30 to 5.00 and was my bum numb.

The viewing on the Sunday was very enjoyable of course, other than the
parking being free, how often is a collector handed a bundle of Scottish
notes sometimes worth £20,000 to £30,000 to look through? Billy

"note.boy" wrote:

Scottishmoney wrote:

?

Who me?

It was a very warm sunny day.

It was thought that a Joint Stock Banking Company £1 of 1840 would be
the first Scottish note to reach the £5,000 mark but it sold for £4,830
including the buyer's premium, very close. It sold for £3,795 at the
Pringle auction of May 2003.

Three other notes, or four, however did break the £5,000 barrier, I'll
give exact details later.

About 40 attended the auction with many bids "on the book" and I got Mr.
Macmillan to sign my catalogue, "Mr. McIntyre" was not there as far as
we know.

As I feared the large number of proofs notes were too many with quite a
number unsold, this a small interest area for collectors with the
majority preferring a tatty issued note to a pristine proof one, even if
issued notes are unknown collectors mostly are not willing to pay £400+
for a proof note. There were exceptions of course with some proofs
going very high.

I got two lots, a Dumfries Commercial Bank guinea of 1804 in very good
to fine, these appear on ebay but the one I got is unusual in not having
large holes or damage.

The second lot had three notes, East Lothian £1 1821, partially issued
VF++. Stornaway £1 1823 partially issued VF++. Commercial Bank £1 1820
contemporary counterfeit, EF. A nice assortment of three notes, I
already had a similar Commercial one but another is ok as the date is
different, I've not yet been able to check if they are from the same
printing plate, the signatures are printed and not hand signed as they
should be.

There's one collector that all other collectors dread to see at
auctions, and he was there, the reason? He spent his usual £30,000
approx., I've not totalled it up yet, so when he is there it's difficult
for those of more modest means to get what they are after. Those
looking for notes in the couple of £1,000 range and above were mostly
not successful against Mr Moneybags.

The afternoon session ran from 2.30 to 5.00 and was my bum numb.

The viewing on the Sunday was very enjoyable of course, other than the
parking being free, how often is a collector handed a bundle of Scottish
notes sometimes worth £20,000 to £30,000 to look through? Billy

I've just found an East Lothian on ebay, this one is unissued while the one
I got has the date, serial number and one signature present, William
Borthwick, the manager who absconded with all the bank's cash. Billy

http://cgi.ebay.co.uk/EAST-LOTHIAN-1...temZ8333676938

"note.boy" wrote in
http://cgi.ebay.co.uk/EAST-LOTHIAN-1...temZ8333676938




All of my East Lothian notes are partially issued, ie serials but no
signatures.

The most interesting tale of Mr. William Borthwick was his plot to kidnap
the bank inspectors and have them shipped to Heligoland, which was then a
British held island off the coast of Germany. The authorities got wind of
the plot and thwarted it. This account was covered in Kerr's "History of
Banking in Scotland which was published in the late 19th century.

Another fascinating aspect of the note issues from this bank was the £5 note
which had the bank's name mispelt as "East Lotihan Bank" in one of the large
engraved vignettes. And that was a Kirkwood and Sons engraved issue

"note.boy" wrote in message
...
Scottishmoney wrote:

?

Who me?

It was a very warm sunny day.

It was thought that a Joint Stock Banking Company £1 of 1840 would be
the first Scottish note to reach the £5,000 mark but it sold for £4,830
including the buyer's premium, very close. It sold for £3,795 at the
Pringle auction of May 2003.


This was in quite a bit of the press in the buildup to the auction. It is a
very lovely note, regardless of the lesser amount which it sold for.

Thanks for sharing your account.

Scottishmoney wrote:

"note.boy" wrote in
http://cgi.ebay.co.uk/EAST-LOTHIAN-1...temZ8333676938




All of my East Lothian notes are partially issued, ie serials but no
signatures.

The most interesting tale of Mr. William Borthwick was his plot to kidnap
the bank inspectors and have them shipped to Heligoland, which was then a
British held island off the coast of Germany. The authorities got wind of
the plot and thwarted it. This account was covered in Kerr's "History of
Banking in Scotland which was published in the late 19th century.

Another fascinating aspect of the note issues from this bank was the £5 note
which had the bank's name mispelt as "East Lotihan Bank" in one of the large
engraved vignettes. And that was a Kirkwood and Sons engraved issue

Sell it on ebay as L@@k R@RE error note, just don't mention that they all have an
identical error. :-)

This seller does something similar, in the description is, "Lacking any serial
number on reverse", but none of these notes have serial numbers on the reverse,
when I asked why he mentioned this in the listing I got no reply, not a surprise
really. Billy

http://cgi.ebay.co.uk/RARE-SCOTTISH-...temZ6208065228

The prices realised for the Edinburgh auction are now on Spink's web site,

http://www.spink.com/asp/results.asp

"note.boy" wrote in

Sure wish you had bought lot #16. The £12 Bank of Scotland from 1723.

It was bought by Pam West, for resale or for a collector I don't know, she
bought quite a few notes.

She paid £1,380, it sold at auction in 1994 for £462. Billy


Scottishmoney wrote:

"note.boy" wrote in

Sure wish you had bought lot #16. The £12 Bank of Scotland from 1723.