Two PMG-certified Asian Notes Each Realize Over $90,000

Two rare notes from Southeast Asia realized over $90,000 each in an auction of over 250 selections from the unparalleled Frank Goon Collection. Noonans offered these notes as Part I of the collection, which is certified by Paper Money Guaranty® (PMG®), on March 25, 2023.

Leading the way was a Singapore ND (1973) 10,000 Dollars - Replacement graded PMG 58 Choice About Unc EPQ (lot 210). It realized SGD 124,000 (about $93,000), well above its pre-auction estimate of SGD 50,000 to SGD 70,000. This is the highest denomination ever printed by Singapore, and one that is now being phased out due to money laundering concerns. PMG has certified only five examples of this particular replacement note, with this one easily being the highest graded.

Singapore ND (1973) 10,000 Dollars - Replacement graded PMG 58 Choice About Unc EPQ Click images to enlarge.

Meanwhile, a Straits Settlements 1930-33 1,000 Dollars Specimen graded PMG 62 Uncirculated (lot 41) also realized SGD 124,000 (about $93,000). The note, issued for the British colonies in Southeast Asia that included Singapore, shows King George V. Like the other notes in the collection, it was encapsulated with a special PMG label highlighting their provenance to Goon, the author of "The Banknotes of British Malaya."

Straits Settlements 1930-33 1,000 Dollars Specimen graded PMG 62 Uncirculated Click images to enlarge.

In March 2024, Noonans is planning to offer Part II of the collection, believed to be the most comprehensive group of banknotes ever assembled from the region. Other PMG-certified highlights from the Frank Goon Collection in the March 2023 auction included:

• a Malaya ND (1942) 10,000 Dollars Color Trial Specimen graded PMG 55 About Uncirculated (lot 133) that realized SGD 99,200 (about $74,000)
• a Malaya 1942 (ND 1945) 1,000 Dollars Color Trial Specimen graded PMG 65 Gem Uncirculated EPQ (lot 132) that realized SGD 62,000 (about $46,000)
• a Straits Settlements ND (1916-20) 50 Dollars Proof graded PMG 58 Choice About Unc (lot 37) that realized SGD 57,040 (about $43,000)
• a Malaya 1942 (ND 1945) 100 Dollars Color Trial Specimen graded PMG 65 Gem Uncirculated EPQ (lot 131) that realized SGD 57,040 (about $43,000)
• a Straits Settlements / British Administration 1935 5 Dollars graded PMG 67 Superb Gem Unc EPQ (lot 57) that realized SGD 57,040 (about $43,000)
• a Malaya & British Borneo / British Administration 1961 10 Dollars graded PMG 65 Gem Uncirculated EPQ (lot 151) that realized SGD 54,560 (about $41,000)
• a Sarawak, Government of Sarawak 1918-22 10 Dollars graded PMG 35 Choice Very Fine (lot 67) that realized SGD 52,080 (about $39,000)

Prices realized include buyer's premium. The $ symbol represents US Dollars.