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Auction: 327 - World Banknotes at NY INC, Waldorf Astoria
Lot: 334

Kingdom of Sweden, Stockholms Banco, 10 daler silvermynt, third issue, 1666, serial number 1870, black text on cream parchmentlike paper, two embossed bank seals at centre and one at top left, text at centre reads 'That the Bearer of this credit note has a claim upon Stockholms Banco numbered 1870 for 10 dalers silvermynt is attested by us, the Bank Director, Commissioners, Bookkeepers and Cashiers of the Bank each by his signature written with his own hand and by his seal; as well as authenticated for additional security by the large and the small Bank Seal intended for such purpose'. The signatures low left are Johan Palmstruch, Jacob Barchman, Henrik Marheims and Hans Hasselhuhns, at the low right are the signatures of Erik Appelgrens, Henrik Stockenstroms, Eik Torbjornssons and Anders Meijers. Each signature has an embossed seal for authentication. On the reverse is the manuscript value and serial number and the signature of Johan Hellarheins
(Pick A57), In 1656 Johan Palmstruch was granted a Royal Privilege to found a bank. Sweden was in considerable financial trouble largely due to the 30 years War and the prevailing copper currency in circulation was cumbersome and impractical. Copper currency was deposited at the bank and paper issued. It is true that paper money was issued under the Ming Emperors but these were backed by the Emperors Treasury unlike the 'Palmstruch' notes which were issued by a bank and thus can legitimately claim to be the World's first banknotes. a splendid example, very fine and above average for type. Extremely rare and historically important

Estimate
$25,000 to $30,000