Why These Two Rs 10 Notes Fetched Over Rs 12 Lakhs At Auction?

One of the most astonishing aspects of these notes is their state of preservation. Despite being submerged in seawater for over a century, these Rs 10 notes are in remarkably good condition. This preservation is attributed to their position within tightly bound bundles, which protected them from direct contact with the sea.

The high-quality paper used to print these notes also played a crucial role in their survival. Such well-preserved items from the early 20th century are exceedingly rare, making them highly sought after by collectors and historians alike.

The origin of these notes is extraordinary. They were part of the cargo on the SS Shirala, which included various provisions like marmalade and ammunition. The ship was en route from London to Bombay when it was struck by a German torpedo. The notes were initially unsigned and were meant to be signed and put into circulation upon arrival in Bombay.

This dramatic backstory, combined with their subsequent recovery from the shipwreck, adds a unique narrative that enhances their value. Collectors often pay a premium for items with such compelling and well-documented histories.

These Rs 10 notes are incredibly rare. According to Thomasina Smith, Worldwide Head of Numismatics at Noonans, very few examples of these notes survived. Most of the currency notes that floated to shore were recovered and subsequently destroyed by authorities, with new ones printed to replace them. Only a limited number remained in private hands. The rarity of these notes is a significant factor contributing to their high auction value. In the world of numismatics, rarity often equates to higher prices, especially when combined with historical significance and excellent condition.

In today’s competitive global markets, the demand for unique and historically significant collectibles has been on the rise. Collectors and investors are constantly seeking rare items that have a story to tell. These Rs 10 notes fit perfectly into this category.

The fact that they are being auctioned in London, a major hub for antique and collectible auctions, further elevates their profile. Such items attract interest not just from Indian collectors but from enthusiasts worldwide, driving up the potential auction prices.

The notes are being auctioned by Noonans in Mayfair, an auction house with a long history of dealing in rare and valuable items. Since the 1990s, Noonans has been auctioning old notes, stamps, ornaments, and medals. The reputation and credibility of the auction house play a significant role in the perceived value of the items being sold.