Over 200 banknotes certified by Paper Money Guaranty® (PMG) comprise the bulk of The Lou Manzi Collection of English Banknotes — Part 2 sale, being held October 10, 2019, by renowned global auction house Spink & Son Ltd.
The Manzi Collection ranks among the all-time finest assemblages of British banknotes and includes many highly desirable "White Notes" from the Bank of England.
The top lot in the auction is an early example of one of these White Notes: a Bank of England 1797 £1 — London graded PMG 20 Very Fine that is estimated at £40,000 to £50,000 (about $50,000 to $62,000 USD).
It is an Abraham Newland issue with serial number 2, which is significant because the whereabouts of number 1 are unknown. Consequently, this is the earliest-known Bank of England £1 note in existence.
Another rarity is a Bank of England 1929-34 £1000 — London graded PMG 35 Choice Very Fine. This high-denomination note represented a considerable sum in the early 1930s, and it is one of very few examples that exist today. The auction estimate is £20,000 to £25,000 (about $25,000 to $31,000 USD).
For collectors of notes with consecutive serial numbers, this auction also features several such lots. Most are graded PMG 63 and higher.
Collectors have been looking forward to the sale of Part 2 of the Manzi Collection since the successful sale of the first half of the collection in May 2019. It realized £610,990 (nearly $800,000 USD). At the time, Barnaby Faull, Director of Banknotes for Spink, said:
"The Lou Manzi Collection probably is the best collection of Bank of England notes extant today."
With a keen eye for rarity and quality, Lou Manzi amassed his impressive collection of British banknotes over the course of four decades. PMG certified hundreds of them in London at the office of NGC International UK Limited (NGC UK), its UK affiliate.
The PMG-certified highlights can be viewed in an online image gallery at PMGnotes.uk/manzi. This gallery has been updated with 79 additional notes from the collection that were graded by PMG in August. Most of these notes are in the Part 2 sale.
"We feel privileged that Spink chose PMG to certify notes from this superb collection," said Steven R. Eichenbaum, CEO of PMG. "Bidders can be confident knowing that any note certified by our expert grading team is backed by the comprehensive PMG Guarantee of authenticity and grade."
On the same day as the Manzi sale, Spink is also presenting Part 2 of the A.J. Simms Collection of Bank of England Issues and Other Properties. The Simms collection is notable for its own rarities from the Bank of England. The top lot is a Bank of England 1929-34 £100 — Bristol graded PMG 55 About Uncirculated, estimated at £8,000 to £10,000 (about $10,000 to $12,000 USD).
Founded in 2005, PMG is the world’s most comprehensive third-party paper money grading and encapsulation service. To learn more about the company and its services, visit PMG.