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Auction: 22008 - World Banknotes
Lot: 309

(x) Dar el Mal State Bank, Ottoman Tunisia, 200 riyals, AH1275, (1858), (Pick Unlisted), in PCGS holder 35 Very Fine, In the 18th century, the Husainidas instituted a hereditary monarchy in Tunisia, Ahmed Bey was the 10th Husainid ruler reigning from 1837-1855. Ahmed Bey authorised the state bank, Dar-el-Mal, which was established in July 1847 with Mahmud bin'Ayad as its director, notably they were one of the first banknotes issued in the Arab World. Very shortly after its establishment, the Bank has failed in May 1853, just a year after Ayad fled to France with Bank assets.
Interestingly the banknote is dated during the short reign of Muhammad II ibn al-Husayn AH 1272-1276 (1855-1859) who after his accession, proceeded with reforms, including, on 10 September 1857, the Fundamental Pact, which recognised religious freedom and equality before the law for all inhabitants of the country. In a decree of 30 August 1858, he established the first modern municipal government for the city of Tunis. The only example discovered, first time offered in public auction, possibly unique, fascinating!

Subject to 5% tax on Hammer Price in addition to 20% VAT on Buyer’s Premium.

Estimate
£12,000 to £18,000

Starting price
£12000