Qubba Palace Auction 1954
A study in the form of a serialized story about the Qubba Palace auction and the withdrawn (and stolen) items, including details that may be published for the first time about the 1933 US twenty-dollar bill that disappeared between 1954 and 1994 in the possession of one of the Free Officers.
King Farouk (11 February 1920 – 18 March 1965) ascended the throne in Egypt in 1936 on the death of his father, King Faud I. Young Farouk – just 16 when he took the throne – was “wild” by the standards of his time and was an avid collector of many things, including coins.
The king's numismatic holdings were near-legendary. At one point he owned a 1933 double eagle and a pair of 1913 Liberty nickels. In 1954 the government of Egypt held an enormous auction sale of the Farouk coins. Dubbed the Palace Collections of Egypt by the sellers, the coins attracted worldwide attention. Americans – as well as others from around the globe – flocked to Cairo for the sale. The collection was cataloged by London coin dealer Fred Baldwin under harsh conditions imposed by the Egyptian authorities. Therefore some extremely rare coins were lotted up with more common pieces; This held true for the sections of United States coins as well as coins issued by other countries.
Many enthusiasts learned a great deal about the treasures of King Farouk that were sold by the Egyptian republican regime – but what is the beginning of the story? And what prompted the Free Officers to hold an auction to sell stamps, coins, snuffboxes, crystal, and watches – all very small things that certainly do not attract attention amidst the luxury of the palaces, the extravagance of the furnishings, the beauty of the paintings, the rarity of the furniture, the splendor of the purebred Arabian horses, and the luxury of the cars, for which no similar international auctions have been held? What specifically caught their attention in these small pieces of paper and metal, whose high prices are often not realized by the non-specialist?
A study in the form of a serialized story about the Qubba Palace auction and the withdrawn (and stolen) items, including details that may be published for the first time about the 1933 US twenty-dollar bill that disappeared between 1954 and 1994 in the possession of one of the Free Officers.
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