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standard catalog® of WORLD PAPER MONEY Ninth Edition Volume Two - General Issues 1368 - 1960 Based on the original writings of Albert Pick Neil Shafer Colin R. Bruce Il Editor Editor Joel Shafer George S. Cuhaj Associate Editor Associate Editor Randy Thern Numismatic Cataloging Supervisor Merna Dudley Krystal Krause Lori Anderson Page Layout Coordinator Data Entry Coordinators Special Consultants Milt Blackburn, John T. Martin, Tony Pisciotta Alex Abezgauz, Mel Steinberg, lan Marshall, Adolfo Cayon, Lee Gordon, Guido Crapanzano, Holger Rosenberg “1 tis no great wonder if in long process of time, while fortune takes her course hither and thither, numerous coincidences should spontaneously occur. If the number and variety of subjects to be wrought upon be infinite, it is all the more easy for fortune, with such an abundance of material, to effect this similarity of results’. Plutarch, Lives, Sertorius Published by krause publications 700 E. State Street * Iola, WI 54990-0001 ‘Telephone: 715-445-2214 All rights reserved. No part of this book may he reproduced or transmitted in any form or by any means, electronie or mechanical, including photocopying, recording, or by any information storage and retrieval system without the permission in writing from the publisher. © 2000 by ‘Krause Publications Ine. Please call or write for our free books and periodicals catalog. Our toll-free number to place an order or obtain a free catalog is 800-258-0929 or please use our regular business telephone 715-445-2214 for editorial comment and further information, Library of Congress Catalog Card Number: 80-081510 ISBN: 0-87341.981.6 Printed in the Unitod States of Ameren Table of Contents Bip i eopeeiien 3 mae me toate ; casei i eines a Btls : 7 aes pa ay Pepe way Over 7 Toyo Cancion alias Oia ros Tarange Die rae oreress reese Nines aCe inher Albee Chart of Mont Intemational Neral Stare Apeaianareceaae Advertiser’s Index Hor Nell cnet re aap cape ; ‘Ate Wer Paper Mey. : Mlhnl Meri cminer eoomrer 7 ‘edt saan z usa Fe acnoso =f iin Capeieeio ee = teehee = “3 ian Meshal ee : "oe Tipe aS ns eer enbs 2% Fea ie 3 Num PG) PTE La 's Hewat a tally > ace ma Soa Sraaet a Wk of Nowe ‘a oa ele : Cave deni Dera ns Dec Neri ° in ender 3 Pili Pripye oe ‘s Po Sluetvdce i Keune Pabenon ° ome Pubes : ° Chang Paper Money Expo CPM). 5 Cho ronal Gon Fir (CCF 2 Acknowledgements ‘The contributions to this catalog have been many and varied, and to recognize them all would be @ volume in itself. Accordingly, we wish to acknowledge these esteemed collectors, scholars and dealers in the world paper money field, both past and present, for their specific contributions to this work through the submission of notes for illustra, tion, improved descriptive information and market valuations. Alex Abezgauz ‘Arthur D. Cohen ‘Melvin P. Hennisch Alan Ackroyd George Conrad Dick Herman Jim Adams. Scott E. Cordry Gene Hessler Esko Ahlroth Guido Crapanzano David Hollander Jan Alexandersson Ray Czahor Anton Holt Walter D. Allan Jehangir B, Dalal Richard L. Horst Paulo Almeida Howard A. Daniel IIL ‘Armen Hovsepian ‘Ahmed Algassim Paull Davis Nicolae Hridan Milan Alusic Efrain Archilla - Diez Hsu Yih - Tzong David C. Amey Richard G. Doty ‘Louis Hudson Carl A. Anderson Duane D. Douglas Mikhail Istomin Dr. Jorge E. Arbelaez Vladimir Duic Dr. Norman Jacobs Donald Arnone Dundar Numismati Walter Jellum Dominique Amould Dennis Earle William M. Judd Brian Asquith Amoldo Efron Alex Kaglyan ‘Norman Athy Wilhelm Eglseer Olaf Kiener David August Esko Ekman Josef Klaus Keith Austin John C. Engstrom, Jr. John M. Kleeberg ‘Cem Barlok Claude Fayette Tristan Kolm William L. S, Barrett Jack G. Fischer Maurice Kolsky Richard Bates Guvendik Fisekcioglu Ants Kulo Keith Bauman George A. Fisher, Jr Richard Kurlish Adriaan C. F. Beck Luis H. Flores Michael Kvasnica Richard Becker Mark Fox Allen L. Lewis Michel Becuwe Tan Fraser Michael Lang Dr. Anton Belcev Mark Freebill Joseph Guerdy Lissade Yasha Beresiner W.A. Frick Claire Lobel Wolfgang Bertsch Gary Ganguillet LK. Loimaranta Milt Blackburn Jim Garber Dennis Luck Gilles Blangon Brian Giese Alan Luedeking Ed Bohannon Ermelindo Giulianini Ma Tok Wo Joseph E. Boling Arcelio Gomez-Prada Martan MacDevitt Wilfried A. Bracke Bernardo Gonzales-White Kenneth MacKenzie Jean Bricaud Lee Gordon Ranko Mandic Dr, Alejandro Brill John S. Haas Tan A. Marshall Robert Brooks Agus Halim John T. Martin ‘Angus E. Bruce Murray Hanewich Arthur C. Matz Weldon D. Burson Flemming Lyngbeck Hansen Leo May Lance K. Campbell Len Harsel ALT. McCammon David Carlson Richard Haude William MeNatt Adolfo Cayon Dr. James A. Haxby Donald Medealf William B. Christensen William G. Henderson Richard Miranda Lazar Mishev Howard Mitchell Emest J. Montgomery Charles Moore Arthur H. Morowitz Michael Morris Maurice Muszynski Tanju Muthu Colin Narbeth George S. Notarpole Son Xuan Nguyen Andrew Oberbillig Geoffrey P. Oldham Hannu Paatela Mark Pali Julian Papenfus Frank Passic Huston Pearson, Jr. Antonio E. Pedraza Juan Pena William H. Pheatt (deceased) A. A.C. de Albergaria Pinheiro ‘Tony Pisciotta Rick Ponterio ‘Miguel A. Pratt- Myans Michel Prieur Yahya J. Qureshi Nazir Rahemtulla Beate Rauch Jerome H. Remick Ron Richardson Jurg Richter Rudolph Richter Duane C. Riel (deceased) Peter Robin Holger Rosenberg William M. Rosenblum DE. ‘Dusty’ Royer Juri Rudich Alan Sadd Michel Sade Karl Sacthre Michael Schéine Hartmut Schoenawa Carlton “Fred” Schwan Robert Schwartz Alan Sealey Timothy R. G. Sear Christian Selvais, Edith Shafer Joel Shafer Mort Shafer Alex Shagin Hugh Shull Brian A. Silsbee Ladislav Sin Arlie Slabaugh George Slusarezuk Bruce W. Smith Larry Smulczenski Gary Snover Daryl Spelbring jam Spengler Jimmie C. Steelman AcknowLeoceents 5 Jeremy Steinberg Mel Steinberg ‘Tim Steiner Zeljko Stojanovic Roger B. Stolberg Mark Strumpf Alim A. Sumana Imre Szatmati Ricardo de Leon Tallavas Steven Tan David Tang Reiny Tetting SP.Ting ‘Alphons Toele Gunther Toleti Anthony Tumonis Jan Vandersande Dr. Karel Vanka Evangelos Vyzas James Warmus Igor Victorov-Orlov A. Wang ‘Tom Werner Pam West Stewart Westdal Trevor Wilkin Leanne Yap ‘Yu Chien Hua Joseph Zaffern Christof Zellweger Institutions and Publications ‘American Numismatic Association American Numismatic Society Intemational Bank Note Society Smithsonian Institution ‘The Stateman's Year-Book, 2000. 136th Edition by Barry Tuer, editor, The Stateman's Year-Book Office, (Giatistical and ‘The Macmillan Press L1d., 4-6 Crinan Street, London NI 9SQ, England. torical Annual ofthe States of the World). 6 ADvERTISEMENT Bank Notes of the World Alex Abezgauz World Paper Money Buying and Selling Free pricelist upon request P.O. BOX 347057 San Francisco CA 94134 tel. 415.585.9158 fax 415.584.6862 BANCO DE ESPANA Buying Spain - Foreign Lists Alcala 35 Madrid 28014 Spain BANCO DE ESPANA \))j +; Tel. 34-915228030 Fax. 34-915233585 Introduction ‘Welcome to this ninth edition of the Standard Catalog of World Paper Money, General Issues ~ 1368 to 1960. The general scope of this volume is world paper money from the earliest known Chinese notes (1368) to issues circulating in 1 1960, though some later issues appear to complete a series and offer the reader material he or she would hope to find within this work. The general 1960 cut-off was done to better keep pace with the ever increasing ‘modern’ listings and keep cur- rent in major price fluctuations by splitting off issues since 1 ‘961 into their own annual volume - the Standard Catalog of World Paper Money, Modern Issues — 1961 to present. For the ease of identification, notes are listed under their historic country name and/or the name as it appears on the banknote, Notes of a particular bank are listed in date order and then grouped in ascending denomination order. In the ‘cases of countries where more than one issuing authority is in ings and it wil become apparent if that country’s listing is by date or alphabetical by issuing authority. In the cases where a country has changed from a kingdom to a republic all the banknotes of the kingdom's era would be listed before that of, the republic's. Catalog numbers have become the hobby’s shorthand for listing a banknote in an inventory booklet or dealer adverise- ment. Catalog numbers in this book have been extensively ‘changed within many countries in order to retain a consecu- tive system that most people have become comfortable with. It-will cause many to look at their collections again and com- pare listings to update catalog numbers and varieties; but at the same time, those collectors should be pleasantly sur- prised atthe current market valuation listings. A review of paper money collecting Paper money collecting is undoubtedly nearly as old as paper money itself, this segment of the numismatic hobby did not begin to reach a popularity approaching that of coin, collecting until the later half of the 1970°s, While coins and paper money are alike in that both served as legal obligations, {o facilitate commerce, long-time paper money enthusiasts ‘know the similarity ends there. Coins were historically guaranteed by the intrinsic value of their metallic content — at least until recent years when virtu- ally all circulating coins have become little more than legal tender tokens, containing little or no precious metal ~ while paper money possesses a value only when it is accepted for debts or converted into bullion or precious metals. With many note issues, this conversion privilege was limited and ult ‘ately negated by the imposition of redemption cut-off dates. Such conditions made collecting of bank notes a risky business, particularly with notes possessing a high face value. This is why in most instances, except where issued were withdrawn shortly after release or became virtually, worthless due to hyperinflation, early high denomination notes are extremely difficult to locate, especially in choice to ‘uncirculated grades of preservations. ‘The development of widespread collector interest in paper ‘money of most nations were long inhibited by a near total absence of adequate documentary literature, No more than four decades ago collectors could refer to only a few catalogs, and dealer price lists of limited scope, most of which were incomplete and difficult to acquire, or they could build their ‘own knowledge through personal collecting pursuits and ‘contact with fellow collectors. "The early catalogs authored by Albert Pick chronicled issues of Europe and the Americas and were assembled as, stepping stones to the ultimate objective which became real- ity with publication of the first Standard Catalog of World Paper Money in 1975. That work provided collectors with near complete listings and up-to-date valuations of all recorded government note issues of the 20th century, incor- porating Pick’s previously unpublished manuscripts on Arica, Asia and Oceiana, plus many earlicr issues. ‘This completely revised and updated ninth edition pre~ sents a substantial extension ofthe cataloging effort initiated in 1975 and revised in succeeding editions. As the most com- prehensive world paper money reference ever assembled, it fully documents the many and varied legal tender paper cur- rency issued circulated by nearly 300 past and current gov- cemments of the world from 1368 to 1960. Falling within the scope of this General Issues volume are all legal tender issues circulated under the auspices of recog- nized national governments and their banking agents, includ- ing notes which enjoyed wide circulating in their respective countries. Exceptions are the multitudinous notes of the Ger- ‘man states and cities, especially those of the World War I and postwar period to 1923, and the vast category of Chinese focal issues and similar limited-circulation issues of other countries. An Invitation Users of this catalog may find a helpful adjunct is the Bank Note Reporter, the only monthly newspaper devoted exclusively to North American and world paper money. Each issue presents up-to-date news, feature articles and informa- tion including appearances of the World Paper Money Update on the latest world paper money releases and discov- cries. Listings in these presentations are all keyed tothe stan- dard Catalog numbering system utilized in this catalog. All purchasers of this catalog are invited to subscribe to the Bank Note Reporter. Requests for a sample copy should be addressed to Bank Note Reporter, 700 East State Street, lola, WI 54990-0001 Azores .. Bahamas Barbados .... Belgian Congo .. Belgium Bermuda Bohemia & Moravia Bolivia .. British Guiana ..... British Honduras .. British North Borneo British West Africa Bulgaria China/Peoples Republic China/Taiwan (China/Puppet Banks... China/Military Colombia Comores .... Confederate States of America Cook Islands ..... Costa Rica Croatia Cuba Curacao ... Cypnis .... Czechoslovakia Country Index Dahomey .. Danish West Indies... Danzig ... Ireland 7 Ireland - Northern Ireland - Bire : Isles of France & Bourbon Isle of Man Israel .. Italian East Africa Italian Somaliland PRETO nen Falkland Islands Fiji. Finland France .. . French Equatorial Africa ... French Guiana French India French Indo-China .. French Oceania French Sudan ..... French West Africa .. Georgia : German East Africa German New Guinea German South West Africa ......510 GeAMANY rn S11 Germany - Federal Republic .....535 Germany - Democratic Republic 537 506 509 Leeward Islands Liberia Ghana .... 539 4 Gibraltar -540 Liechtenstein Gilbert & Ellice Islands Lithuania Great Britain ... Luxembourg . Macao Madagascar Madeira Islands Malaya. Malaya & British Bomeo Maldives ... ‘Netherlands Indies Netherlands New Guinea Newfoundland . New Hebrides ... Rhodesia & Nyasaland ...... Romania .. Russia .. Saar Saint Helena Saint Lucia... Saint Pierre & Miquelon Saint Thomas & Prince ... Seychelles, Saint Thomas & Prince .. Seychelles .. Slovakia Solomon Islands . South Africa 7 Southwest Africa .. ‘Southern Rhodesia Spain Straits Settlements ..... Tangier .. ‘Tannu-Tuva Texas Thailand Tibet Timor. Tonga .. Trinidad & Tobag: Tunisia Turkey : ‘Turks & Caicos United States Upper Senegal & Niger ‘Uruguay Usbekistan Venezuela VietNam . South Vietnam ... ‘West Aftican States ... West Samoa enn ‘Wester Samoa Yugoslavia Yugoslavia Zanzibar. 10 a ‘pn ihe ra ‘an a fe we aan Ben ‘isco Meee Bal ram Ban Romana aps Bao Boker Ne Botan waive Been nce ce chee ee at Se “hives et ih Ne me alee Be —o ‘Coa oxen oor een ont ition con: on Con reach nd Chinn Ce ne Kone em egontaia ent inane (cents “ena Cente “Angola Cento ‘Agent Gamo Bae Cet Cap Vee Cent er Oa Cento nnn Coombe Ce Ne Cee. omnia Repebie emo. cenvo env. Senso. Cenvo Cet. (Cento (Cenavo Si Thoms an Prince (Centos Face ee Cente Cemesino Cenex, Cate Cente Cetime. Conime Contin Cente ar eatin Bandeoupe Contin reac Galea Certime enna ery Coat Cente. enone Cette (Cenine Mere Denomination Index Ceti een NW Caledonia De aon Moldova (Centime ‘Rewion Duca nsec Maldove ‘Certime a Ea 7 “ance Cenime