LOT Marudhar Arts  /  Marudhar Arts Auction # 36  / 

480

Large Size One Hundred Rupees Banknote of Hyderabad State of 1918.

Currency:INR Category:Coins & Paper Money Start Price:225,000.00 INR Estimated At:225,000.00 - 250,000.00 INR
Large Size One Hundred Rupees Banknote of Hyderabad State of 1918.
Hyderabad State,100 Rupees,Sea Salvage,1st Issued in 1918, KhurdadMonth, FE1331,Printed in England, S. No. PS93210, Rectangular blue ink hand stamp on the left field, which reads This note is of no monetary value. It was recovered in June 1932 by the Italian salvage vessel Artiglio from the bullion room of the liner Egypt sunk off Ushant on May 20, 1922, in a depth of 400 feet., Currency Note Sarkar-e-Aali, promise text in three linesYAKSAD RUPYE SICCA OSMANIA in words in the center, Siyaq in the top left at the reverse, all in Urdu,(KJ RR # 7.10.4), stains lightened, ink stamp,graded by PMG as 30 Very Fine NET, Extremely Rare.

Note:During the First World War, S.S. Egypt collided with a cargo steamer in thick fog northwest of France in May 1922. The Ship sank to a depth of 400 feet. It had in its cargo Gold valued at One Million Pounds. Few Salvagers formed a Salvage Company called SORIMA, they hired a cargo ship called Artiglio with the sole purpose of salvaging the One Million Pound worth of Gold in SS Egypt. In June of 1932, they were able to salvage the gold and along with it the unsigned notes of Hyderabad in denominations of 5, 10 100. There were a total of 1,65,000 notes of which after protracted negotiations through his advocates with Sorima, the Nawab of Hyderabad bought back 1,28,000 notes in July 1939. These banknotes were burnt in London. The remaining notes are either with collectors or are missing under the sea. These notes were printed by Waterlow Sons.
Sign In to Bookmark Lot