Cyprus Note Featuring a Young Queen Elizabeth II Leads Rarities Certified by PMG and NGC in Karamitsos Sale

Hundreds of notes certified by Paper Money Guaranty® (PMG®) and hundreds of coins certified by Numismatic Guaranty Company® (NGC®) are being offered in an upcoming Karamitsos sale. Bidding is already underway for the A. Karamitsos Live Internet Auction 8, which will be held October 21-22, 2023.

One of the highlights of the sale is a Cyprus, Government of Cyprus 1955-57 1 Pound graded PMG 65 Gem Uncirculated EPQ (lot 6740) with a starting price of €7,500 (about $7,900). Cyprus, formerly a British colony, was embroiled in a war of independence with Great Britain in the mid-1950s. Therefore the 1957 issues (this one bears a date of March 1, 1957) featuring the portrait of a young Queen Elizabeth II were never put into circulation in Cyprus and most were destroyed. However, a small number of the notes were taken as souvenirs by officials. According to the auction house, only 15 notes are estimated to exist, and this example is the highest graded to ever be auctioned.

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Other PMG-certified notes in this auction include:

• a Greece/Italian Occupation World War II ND(1941) 20,000 Drachmai graded PMG 64 Choice Uncirculated (lot 6723) with a starting price of €800 (about $850)
• a Cyprus, Central Bank 1964-72 500 Mils graded PMG 65 Gem Uncirculated EPQ (lot 6752) with a starting price of €650 (about $685)
• a Greece, Bank of Greece ND(1946) 10,000 Drachmai graded PMG 63 Choice Uncirculated EPQ (lot 6640) with a starting price of €600 (about $635)
• a Cyprus, Central Bank 1964-71 250 Mils graded PMG 65 Gem Uncirculated EPQ (lot 6744) with a starting price of €600 (about $635)

Other NGC-certified coins in this auction include:

• a Greece 1967(1970) Gold 100 Drachmas graded NGC MS 65 (lot 6239) with a starting price of €1,500 (about $1,600)
• a Greece 1935(1940) Silver 100 Drachmas graded NGC PF 63 (lot 6161) with a starting price of €1,200 (about $1,265)
• a Greece 1831 Lepton graded NGC AU 55 BN (lot 6027) with a starting price of €900 (about $950)
• a Cyprus 1928 45 Piastres graded NGC MS 65 (lot 6508) with a starting price of €600 (about $630)

Starting prices are provided by the auction house. The $ symbol represents US Dollars.