PREVIEW: WORLD BANKNOTES 31 AUGUST

The British occupation of Egypt began in 1882 during the Anglo-Egyptian War, which had nominally been pursued to put down a rebellion against the Khedive but was established in defence of British control of the Suez Canal and other interests.

A by-product of the occupation was the British improvement of infrastructure and communications, from railways to the telegraph.

By 1898, the occupation had also led to the establishment of the National Bank of Egypt, and the first notes issued were two that appear in this auction. Both notes were printed by Bradbury Wilkinson & Co., one of the most important British security printers of the 20th century.  

The first is for 50 Piastres and dated 1899, serial number A/1 279448. It carries the signature of Sir Frederick Rowlatt, who went on to become the Governor of the Bank in 1906, a post he held for the next 15 years. The note features the iconic image of the Sphinx, with beautiful stylised fonts in a classic Egyptian style.  

The second is for £1, also dated 1899, and with the serial number B/1 232286 and Rowlatt signature. The note is known as the ‘two camels note’ because of the finely engraved pair of dromedaries that feature as its central motif.

Both are very rare in any condition.

The 50 Piastres note lacks the usual problems such as graffiti or pinholes, is very fine and comes estimated at £10,000-15,000, while the £1 note is a choice fine, and has a guide of £8,000-12,000.