Auction preview: Eldorado Collection of Colombian coins, paper money coming to 2018 NYINC Auction

Stack’s Bowers Galleries will be showcasing the first instalment of The Eldorado Collection of Colombian Coins and Paper Money as part of its New York International Numismatic Convention (NYINC) Auction on Jan. 11-13, 2018 at the Grand Hyatt Hotel in New York City.

Described by auctioneers as “an important auction event in Latin American numismatics and is the finest ever cataloged,” The Eldorado Collection will be offered in two auction catalogues, which will comprise the initial offerings with “many of the rarest and highest grade selections from this epic cabinet.” Online viewing and bidding will begin on Dec. 11.

According to auctioneers, the sale’s paper money presentation portrays the broadest view of this subject ever published in English or Spanish.

“Commencing in 1819 and continuing to the present day are countless note types, from the majority of known series and issuers, offered in this and subsequent sales for the first time. The lot descriptions and their accompanying full-colour images often confirm rumoured examples listed, but unpriced, in the Standard Catalog of World Paper Money. Many are first time individual offerings at public auction.”

BILLETE de TESORERÍA NOTES

The Eldorado Collection also includes a pair of unlisted Billete de Tesorería notes printed on watermarked paper. The Estados Unidos de Nueva Granada-Tesorería Jeneral issue is well represented with three denominations. Printed on frail paper, their condition is superior to most known to collectors.

The “Golden Age” of Colombian paper money (1863-86), was launched upon the contracts made with the American Banknote Company in New York. Colombian notes from this quarter century span are “among the most beautifully engraved by the ABNCo.,” according to auctioneers. The Eldorado Collection contains notes from nearly all these private issuers, including those printed locally by D. Paredes, Bogotá.

BANCO NACIONAL

Concurrent with the issuance of the private “bancos,” commencing in the early 1880s, were notes printed by the American Banknote Company for the Banco Nacional. These “national banknotes” were backed by the federal authorities, and this bank is the precursor of the current banking system in Colombia.

In addition to issuing its own notes, the bank apparently acted as the clearing house for the private banks. Remainder notes from several of these private banks were overprinted for the Banco Nacional in Bogotá during the civil war, and the current sale includes the widest selection of them cataloged individually in any auction sale.

EDWIN KEMMERER

U.S. economist Edwin Kemmerer had already worked with other Latin American economies when he was summoned to work with the Banco de la República for Colombia. In 1923, the Law 25 created the bank which would authorize the Peso Oro on a gold standard, control exchange rates, make loans and perform as a state bank. The 1923 Colombia series and onward coincided with this law and are recorded in the second American Banknote Company sale record book offered in this sale.

LOT VIEWING

Lot viewing will be available at the Stack’s Bowers Galleries Santa Ana office on Dec. 11 as well as in New York City in their offices at 123 West 57th Street and on site at the Grand Hyatt Hotel immediately prior to the sale itself. Check stacksbowers.com for specific dates and times.

For more information on bidding in this event, contact ckarstedt@stacksbowers.com.

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