PREVIEW: THE COOK COLLECTION OF EUROPEAN BANKNOTES: 28 NOVEMBER

Few collections of banknotes can cover such a wide geographical spread as well as such a long history as the Cook Collection. The more than 250 notes hail from 23 countries across Central and Eastern Europe, dating from as far back as 1794 and as recently as 2003.

In all they are expected to sell for more than £150,000 when they come to the rostrum on 28 November.

One of the remarkable aspects of this collection is just how quickly Joe Cook put it together while working as a financial journalist in Central and Eastern Europe. He began collecting when he spotted an album of banknotes in a second-hand bookshop in Bucharest in 1998 and he added the last note just six years later in 2004.

“What fascinated me about the notes is that they are, ultimately, a potted history of the political economy of the Europe between Germany and Russia, between the Baltic Sea and the Balkan peninsula,” he said.

Leading the highlights is a Bulgarian National Bank, printers’ archival specimen 10 Leva Srebarni (Silver Leva), dating to 1899. This is one of only two existing specimens which were intended to record the print run data for such a beautiful and early issue.  Everything about the design of the note marks it out as an extremely rare early Bradbury Wilkinson design. The last time one of these notes came up for auction was well over a decade ago, meaning it more than justifies and estimate of £6,000-8,000.

A large and impressive Romanian Finance Ministry specimen for 2000 Lei, intended for issue in 1920, is part of a set that was never actually put into circulation.  The cook collection includes all four denominations.  Choice about uncirculated and extremely rare, this is a superb large format note valued at £3,000-4,000.  

An remarkable pair of front and back proofs for a Czechoslovakian Republic, 500 Korun, dated 6 October 1923 are part of a unique set of 12 proofs for the notes printed for Czechoslovakia by the American Banknote Company between 1919 and 1935.  Together, they carry estimates of £13,500-£18,000.

Among Joe Cook’s particular favourites are the series of printers proofs from Albania which include colour trials, specimens and overprints of the 1926 100 Franka Ari. “They introduced me to the banknote design and printing process, and the brilliantly named King Zog, who was quite a character, to say the least, and who proudly dominates all but the over-stamped version!” Several colour trial examples of this note are included in the sale, in a variety of vibrant hues, with each estimated at £3,000-4,000.

As Barnaby Faull, Senior Banknote Specialist at Noonans, said: “My particular favourites in the collection are the spectacular Albanian and Bulgarian colour trials printed by Bradbury Wilkinson but the beautiful American Banknote Company specimens and proofs for Czechoslovakia and Romania are also very striking. I still find it incredible that so much of the contemporaneous material that was readily available for face value 20 years ago is now in such high demand. I don’t think I have ever held an auction with 20 lots of Slovenia before but am delighted that this is a personal first after more than 50 years in the business.”