Qatari banknotes break records
Some Qatari banknotes broke records at an auction recently held by Spink International Auction House at its New York office on January 14, 2023, where an unparalleled collection of trials and models of some Qatari banknotes dating back to 1979 was displayed.
Qatari banknote models
The models consist of multiple images of both the front and back printers for each denomination of Qatari banknotes that have not been approved for circulation.
Often during the banknote design process, a security printing company contracted by governments will produce multiple prototypes or proposed designs based on the theme provided by the banknote issuing authority. The authority (often the central bank) then selects and approves the designs used for production, circulation, and circulation.
Designs that are not approved are then archived by the printing company and/or the state and rarely see the light of day or are available for acquisition, often ending up in museums.
A collection of Qatari banknote samples fetched an unexpectedly large sum of money from coin collectors at a recent auction in New York.
Record sales of Qatari banknotes
The eight banknotes sold by the renowned London-based auction house Spink far exceeded their pre-sale estimates, with the pieces fetching sums ranging from £11,500 (£14,216) to £70,000 ($86,527).
The most expensive model of banknote for sale was the 1000 riyal denomination featuring the ruler of Qatar at the time. One of the reasons the proposed design reached such a high price was the fact that Qatar never issued a 1000 riyal banknote for circulation.
One Qatari Riyal denomination
Lot number:237
A sample of a 1 Qatari Riyal coin issued by the Qatar Monetary Authority, both front and back, bearing the serial number 132178 and division A/6. The coin was assessed by the American company PMG and has a rating of 66 for both front and back. The coin was sold for £11,000.
The front on the right bears the emblem of the State of Qatar after independence, while the back shows a general view of Doha port with oil tankers visible. An image of an Arabian horse has also been placed in the watermark location.
Five Qatari Riyal denomination
Lot number:238
A sample of a 5 Qatari Riyal coin issued by the Qatar Monetary Authority, both front and back, bearing the serial number 458791 and division A/4. The coin was assessed by the American company PMG and has a rating of 65 for the front and 66 for the back. The coin was sold for £11,500.
The front design of the coin differs from the Riyal denomination only in some decorations, while the back features a picture of a Qatari farmer carrying some crops inside a greenhouse, and in the location of the watermark is a picture of a goat.
ten Qatari riyal denomination
Lot number:239
A sample of a 10 Qatari Riyal coin issued by the Qatar Monetary Authority, both front and back, bearing the serial number 000000 and division A/1. The coin was assessed by the American company PMG and has an assessment score of 66 for the front and 64 for the back. The coin was sold for £12,500.
The front design of the coin differed from the Riyal denomination only in some decorations, while the back features an image of an oil refinery/natural gas liquefaction plant.
ten Qatari riyal denomination
Lot number:240
Another example of a 10 Qatari Riyal coin with a different color tone from the Qatar Monetary Authority issue for both the front and back, bearing the serial number 842777 and division A/3. The coin was assessed by the American company PMG and has an assessment score of 66 for both the front and back. The coin was sold for £12,500.
The image on the back differed from the previous piece in that it featured an image of the old building of the Qatar National Museum.
Fifty Qatari Riyal denomination
Lot number:241
A sample of a 50 Qatari Riyal coin issued by the Qatar Monetary Authority, front and back, bearing the serial number 719677 and division A/1. The coin was assessed by the American company PMG and has a rating of 66 for both the front and back. The coin was sold for £15,000.
The image that was chosen to have the color blue has in the background a picture of one of the workers in the mining factories, and the watermark is a picture of the jambiya (the curved Arab dagger).
One hundred Qatari riyal denomination
Lot number:242
A sample of a 100 Qatari Riyal coin issued by the Qatar Monetary Authority, both front and back, bearing the serial number 542495 and division A/2. The coin was assessed by the American company PMG and has a rating of 66 for the front and 64 for the back. The coin was sold for £14,500.
The Qatari banknote design for the 100 riyal denomination features a picture of one of the parks in Doha and the watermark of a free falcon.
Five hundred Qatari riyal denomination
Lot number:243
A sample of a 500 Qatari Riyal coin issued by the Qatar Monetary Authority, front and back, bearing the serial number 605003 and division A/1. The coin was assessed by the American company PMG and has a rating of 64 for the front and 65 for the back. The coin was sold for £25,500.
The Qatari banknote design for the 500 riyal denomination features an image of the Sheikhs Mosque in Doha and the watermark of the Arabian gazelle.
Qatari Riyal denomination 1000
Lot number:244
A sample of a 1000 Qatari Riyal coin issued by the Qatar Monetary Authority, both front and back, bearing the serial number 000000 and division A/1. The coin was assessed by the American company PMG and has an assessment score of 65 for the front and 64 for the back. The coin was sold for £70,000.
The Qatari banknote model for the denomination of 1000 riyals features on the front a picture of Sheikh Khalifa bin Hamad Al Thani on the right and on the back a picture of the old building of the Qatar National Museum.
It is worth noting that there are no Qatari papers issued depicting its ruler, so it is considered a rare and very important piece historically.
Sheikh Khalifa bin Hamad Al Thani is the sixth ruler of the State of Qatar and the grandfather of the current Emir, Tamim bin Hamad Al Thani. His reign witnessed many achievements such as the reorganization of the government, the amendment of the provisional basic law, and the state concluded a number of agreements for the extraction and marketing of oil, and schools and colleges were established, and the first university in the country was established.
Sources:
house Spink For auctions (Spink)
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