Fenntucky Mike

I have never seen a set of notes and Pick #'s be so mismanaged in all my years as the 100 & 50 Hryven notes of 1992. I recently viewed a 1992, 100 Hryven note up for auction and I was surprised to see the labeling on the note. It was a cancelled note with perforation and listed as Pick # 107B on the label which I agree with for the most part. The reason the labeling was a surprise to me is that TPG's have been calling perforated notes specimens for years now and this was the first time I had viewed a perforated note having not been labeled as a specimen. 'Bout time!

I have tracked at a minimum five notes of both denominations having been incorrectly labeled IMO, either as a specimen or specimen with the notation "unissued".


These are the facts as I see them.
The last edition of the SCWPM only lists Pick #'s 107A & B for these denominations in this series, no specimen P#'s are listed. The SCWPM uses images of specimen notes with red overprint for P#'s 107A & B, this may or may not have lead to some confusion. Especially when showing an image of a specimen but not listing a P# for one. Notes with ЗРАЗОК (SPECIMEN) in red overprint on both sides of the note are specimens and should be labeled as Pick #'s 107As & 107Bs respectively, which they typically are. Notes perforated with "НЕПЛАТІЖНА" (NOT PAYABLE/NON-PAYMENT) are unissued notes that were canceled and sold in commemorative sets. These should be labeled Pick #'s 107A & 107B respectively and should be noted as being "CANCELLED" on the label.  Notes that are not perforated and not a specimen are unissued notes that were not cancelled and somehow made it out of the NBU's vaults. These also should be labeled as Pick #'s 107A & 107B respectively.  The TPG's are so close to getting the labeling correct, the last piece of the puzzle is for them to label the perforated notes as being Unissued - Canceled or Unissued - Perforated - Canceled, something along those lines, and the labeling would finally be correct IMO. Not much can be done about the notes currently out in the world with bad labels but I have probably one or two of each denomination and I think I'll see if PMG will agree to changing the labels due to a "Mechanical Error", if not I may just cut them out and resubmit. 
I've previously written about the 50 & 100 Hryven notes of 1992 here:
 

I have added an example for the Banco Colombiano from Guatemala to the Impossible Set also indicating that this bank requires much more research.


The note is S121b, an example of the 1 peso issue, dated 17th April 1900 and my research so far posed a few questions. Earlier dates of 17th October 1879 and 5th April 1900 are also recorded, as is a Specimen issue, with most of the notes cancelled and not issued (S/N 59999 to 184998) suggesting a single print run.
So far all of the examples I have seen are all of the 17th April 1900 issue with the lowest serial number I have recorded being 17929 and the highest being 56372, with maybe ~100 notes still in existence, hopefully more. First, these numbers suggest that the earlier dates were much smaller issues, and correspond to the lower serial numbers and second; there is a group between 41037 to 41085 (from my records) which seems to correspond to all of the high-grade examples known, and about half of the total examples, which suggests a hoard of these notes was discovered at some point.
Any information on such a hoard would be much appreciated, as it seems to have been distributed quite some time ago with ungraded notes appearing singly at auctions across Europe and the US. The better notes all being submitted to PMG at different times and graded 63 to 66 with most receiving a 64 – as my example did.
I wonder what surprises the higher denominations will hold?

I actually managed to get a day-off today (well working from home anyway) so thought I would also catch up with some hobbies - I can't believe my last Journal entry was in August!
Work has been hectic, but in a good way, and the hangover from Lockdown finally seems to have worked its way out of the system which means everything is now full steam ahead. Even better that the main projects are very interesting and all working, but I would say that as they were my idea, albeit up to 10 years ago in some cases
A further prompt was the Stacks catalogue for January arriving yesterday, lots of missing banks for 'The Impossible Set' but quite a few of the estimates are higher than the value of my whole collection, but it is great to actually see what they actually look like. I do have plenty of examples that still need adding to the Set so that is on the to-do-list, probably number 11959 (not a random number)
I hope everyone gets to spend some time on their hobbies over the holidays.
 
 
 

The last day of the Labor Day weekend and then back to work tomorrow morning. Where I live it has been super hot all weekend with temperatures up to 100 degrees or more. This past month has been kind of slow in the acquisition department. Not as many Czechoslovakian note that I am looking for have come on the market recently, and it seems like less quality items as well. I have picked up a few smaller notes for my main set, a 25 Korun from 1961.

I also managed to snag a 500 Latu 1929 note from Latvia. I think that this note is beautiful and while the example that I picked up shows some wear I still think it is a great note.

A couple weeks ago a specimen of the 500 Latu came up for sale from seller out of Canada. I knew that this note was going to sell for a lot of money but it ended up selling for $8000 when it was all said and done.

I'll have to see what the future holds and if anything new or interesting comes up in the next month, currently I'm watching a few interesting items with the hopes that they wont go too much out of my budget.

There have been some big-time rarities in Ukrainian notes hitting the auction block recently, almost all specimens, and prices have been through the roof! It's killing me that I can't splurge on one or two of these but unfortunately most are out of my price range. Also, as seems to be the norm unfortunately, I disagree with how some of these notes were labeled and the Pick #'s assigned to them, but that didn't seem to dissuade would-be bidders. Anyway, here are a few of the highlights.
Four seldom seen specimen notes with De La Rue overprint, specimen numbers and printer's annotations, all were previously mounted. I suspect that all similar Ukrainian specimen notes with De La Rue overprint will have been mounted as I believe that was how they were presented. These are some rarities, gorgeous notes, and bidding proved strong for all four. All prices are in USD and are the hammer or high bid price only, taxes, BP, shipping, etc. not included. The first two notes were listed and sold separately, when those auctions concluded the next two were listed, also separately. 
$1,775.00 (PMG, 63)

$1,600.00 (PMG, 63)

$2,300.00 (PMG, 64)

$2,550.00 (PMG, 64)

Next are more Color Trials, and Printer's Designs. The seller seems to have an unlimited supply of these, I'm hoping if they do list more, I'll have an opportunity to pick one up. PMG did label a few of these as "Unlisted Pick" varieties, which I would they rather do than incorrectly label them. It's too bad that Krause went tits up and left this huge void in identifying notes, the Banknote Book seems to keep up but PMG does not currently utilize BB numbers, maybe someday they will as the current state of things is not great. Back to the notes!
$1,125.00 (PMG, 66 EPQ)

$1,075.00 (PMG, 65 EPQ)

$900.00 (PMG, 66 EPQ)

$860.00 (PMG, 66 EPQ)

$788.00 (PMG, 66 EPQ)

$720.00 (PMG, 66 EPQ)

$721.00 (PMG, 65 EPQ)

$650.00 (PMG, 67 EPQ)

There are also a few classic notes currently up for auction.
Another 2 Karbowanez with a starting price of $1,480.00

And last but not least we have an über rare 5 Chervontsiv note with a starting price of $9,535.00, the auction ends Oct 3.

Overall, quality available notes seem to be drying up as the last few auctions had either very slim pickings and/or common moderns add to fill up the auction. I realize that as my collection becomes larger and more complete there will be fewer notes that I would want to acquire, leaving only "key" notes for me to find. Not acquiring new notes is I suppose it's a blessing in disguise as I'll be able to increase my funds and possibly pick up a few of the rarer notes, but not adding some Ukrainian notes is killing me and to it the frustration of having to watch these beauties pass by on my computer screen.  At least I was able to pull images and information for all of them from the auction listings and add it to my records.
In the meantime, I've been picking up a few low-cost notes from other countries to fill the void and hopefully the timing will be right in the near future for the key notes. 

https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list
This month saw San Luis Potosi join my Mexican States set which also allowed the Banco de San Luis Potosi to fill another gap in the Impossible Set. Given that ‘Potosi’ was only added to the State name at a later date to highlight the importance of silver and gold mining to the region, it seems only appropriate to add a bank more closely tied to the famous Bolivian silver mine – the Banco de Potosi.

Knowing there were some notes from other Mexican and Bolivia banks buried in my collection I decided to concentrate on these two countries for July. As a result, the Tesoreria de la Republica de Bolivia, Banco Mercantil and the Banco Central de Bolivia expanded the Bolivian group in the Set. Unlike most of the banks in the Impossible set, which no longer exist, the last two are still operating. The central bank has the sole responsibility for the Bolivian currency and the Banco Mercantil merged with the Banco Santa Cruz only a few years ago, in 2006, forming the Banco Mercantil Santa Cruz, which still plays a major role in the finance sector of Bolivia.

The opposite end of banking longevity is evident by the selection of the extra Mexican banks. Like many of the short-lived private banks, which ultimately make up the Impossible Set, it is specimen notes and proofs, rather than issued notes, that are the only remaining testament to their plans. The Banco Mexicano de Comercio e Industria, a branch spin-off from what is now Deutsche Bank, was one that didn’t fare so with global events overtaking plans to issue their own notes, so the example included in the set is a specimen 1000 pesos note, and is one of my favourite designs, as it is reminiscent of the classical Three Graces of British numismatics. The other Mexican notes is a local low denomination issue by a major company, essential for day-to-day commerce during the Revolutionary period.

I am delighted to have been able to add 7 new ‘banks’ to the Impossible Set during July and also begin to uncover their history and the fascinating stories of the places and people involved. So far, it appears that every new note has the potential to be the start of a bigger research project, so that is 52 projects so far !

The NBU released into circulation a new 1000 Hryen note dated 2023 with the signature of the current Governor of the NBU Andriy Pyshnyy. The notes were introduced into circulation on July 20th and will circulate with existing notes of the same denomination. This is the third signature-date variety and including the 2021 commemorative the fourth type overall, it will undoubtedly be assigned Pick # A128c. The 1000 Hryven banknote was first issued on October 25, 2019 in a response to a gradually falling Hryvnia and rising inflation. The new 1000 Hryven note would make it easier for business and the general public by requiring fewer low denomination bills for transactions and reduce government costs associated to the production of those lower denomination notes. The release also coincided with the introduction of 1,2,5 & 10 Hryvnia coins and the halting of production of notes of the same denominations, the lower denomination notes are still used in everyday commerce and are slowly being withdrawn as they come into banks and other institutions. 

The 1000 Hryven banknotes were/are the topic of some discussion in regard to a stolen adobe font being used for some of the text. A topic that has yet to go away, and that the NBU denies. I've written about it previously in my Journal. No changes have been made to the fonts currently in-use on the banknotes.
A 1000 Hryven note (Pick #24, pictured below) was issued 101 years prior by the fledgling government of a newly formed Ukrainian State in 1918, near the end of WWI and the beginning of the Russian Revolution. In 1918 there was also a 2000 Hryven banknote issued, cold similar large denomination banknotes be in Ukraine’s future? Although the current 1000 Hryven banknote was issued prior to the Russian invasion circumstances now could force the NBU to issue new higher denomination banknotes, mirroring previous history during similar situations. The Hryvnia was equal to .040 dollars when the current 1000 Hryven banknotes were first issued in 2019, it is currently sitting at .027. The NBU has given no indication that larger denominations are in the works, but one can't help but wonder.  

There were also 3.6% interest 1000 Hryven bonds that circulated as money in 1918 and are considered notes. The central portion with or without coupons attached is considered a note, P# 15, as well as the coupons themselves if cut from the original, P# 20. Bonds with all eight coupons attached are extremely rare.

San Luis, or Saint Louis was Louis IX, the King of France who was a devout catholic and led several crusades in the late 13th century, dying on the 8th crusade from dysentery. Pope Boniface VIII made Louis IX a saint in 1297 with his feast day being next month on August 25th. A number of places in the region are named after him, so it is not just the city and the central Mexican State in Latin America with a surprising French connection. The reason for establishing the first Spanish settlement in the state the Cerro de San Pedro and its productive gold and silver mines and this is recognised on the State coat-of-arms which depicts Saint Louis standing on a hill flanked by two silver ingots and two gold ingots. Potosi was added to the name, at a later date, in reference to the famous silver mines in Bolivia probably highlighting that Mexico had an (almost) equivalent!
The note representing this bank is 1 peso example from the final issue. The front of the note, as for all denominations, displays the State coat-of-arms and on the left is a vignette of the bank headquarters building, all 1 peso notes are Series D and dated 15th February 1914. The back of the note features a central image of the Mexican coat-of-arms and, on the left, the stamps indicating the 1% duty had been paid allowing the note to be issued.
San Luis Potosi therefore becomes Mexican State No. 9.



 
 

May and June were pretty big months for my Czechoslovakia set. I got my submission back from PMG the first part of June. Most of my notes came back at about the grades that I had guessed they would, I had a couple come back higher as well! Unfortunately I had 2 notes come back as questionable authenticity. They were both early notes with stamps affixed to the notes to make them legitimate Czech notes and I believe that the stamps were probably added after the fact now. In looking at them the stamps have more wear and are discolored where as the notes are in decent condition. This is a mistake that I should have caught but I guess you learn from your mistakes. 
One of the best notes that I got back was this 10 korun from 1919, this was from the same lot of notes that all the other 1919 ones were from. It is a beautiful note still has good color, a few minor stains but not enough to get any comments on the back or net grade so I was happy that this one straight graded. The H series is also the rarer series of this note with H35 being the last series before it switched to O36-O210.


June was also big for me my first note of this set was graded personally in December of 2020, and after about 3 years of work on this set I now have the number 1 set in the category and I'm closing in on 50% completion. I am still on the lookout and have started acquiring notes for my next submission, maybe sometime next year. I think that realistically my goal for this set is 90% completion, I think that is a doable number for this set because after that there are about 10-15 notes where every note is easily 4 figures maybe 5.
 
Until the next update, thanks for reading!

...as I'm bowing out of these auctions. 
Timing was never something that seemed to worked in my favor, neither was luck, but with both being somewhat out of my control I can only sit back and watch as more amazing notes hit the auction block.  Namely, three color trials and a printer's design being auctioned by the same seller who listed the 42 specimens only a few weeks ago. I suppose having a severe case of not wanting to let go, a set discretionary budget, and an acute lack of patience probably doesn't help my cause either. 
First is a 1993, 2000 Karbovantsiv color trial note. This is the fourth such note that this seller has listed, the first three being graded 67EPQ x 2 and another 66EPQ by PMG. The 67s went for $600, not including taxes and shipping, and an offer was accepted on a $999 BIN price for the second. The previous 66EPQ was listed with a BIN price of $999, with an offer being accepted for the note earlier this year. Bidding on the below note is currently over $500. Hopefully this seller has a few more up their sleeve and I'll be in a position to bid on them.
EDIT TO ADD: HAMMERED AT $720


Next is a 1992, 100 Karbovantsiv color trial note. I don't have any records of this note, or another, being auctioned, making this note a first time offering of the type. Bidding is currently up to $505 on this note as well, but it should go much higher. 
EDIT TO ADD: HAMMERED AT $710


Also, we have what I believe to be another color trial but it is labeled as a P#88s. A #88s is a 100 Karbovantsiv specimen of the second series coupons with red-overprint "ЗРАЗОК" on the face and back with solid zero prefix and serial number, the color palate is orange, violet and grey, the note below appears to be a first and second printing red ink color trial. The color trial notes are typically identified by the color variations when compared to specimens or an issued note. The color trial notes of this denomination will also have a solid zero prefix and serial number, same as a normal specimen note, and no red-overprint "ЗРАЗОК" on the face and back. There are additional color trial notes with "SPECIMEN" in block letters stamped vertically in red on the left side of the face, these are very rare. Unfortunately for me the label isn't fooling anyone as bidding has reached $510 for this note. 
EDIT TO ADD: HAMMERED AT $700


Finally, a 1992, 50 Karbovantsiv printer's design. I love this note! I also have no record of this note, or any other, being made available. Currently unlisted in Pick, the seller must not have paid for variety attribution , it is listed in at least one other reference but not most, and none list this color. This note is great, an unreleased denomination for this issue, an unlisted color variety with printer's annotations, and the first time it's been available for purchase. This is possibly a unique note.  Of course, the seller may list several other after this note is sold, who knows.  Bidding is currently at $500 and should climb from there.
EDIT TO ADD: HAMMERED AT $710
 

It's difficult to say how rare some of these color trials and printer's design notes are, especially as it seems PMG does not list these notes, P#'s, separately and possibly lumps them all together under the series and denomination specimen P#, making the Pop Report even more worthless than it already is.  The one thing I do know is that there is a LOT of unique paper out there, especially for the coupons of '91-95.
It's the eternal question of do you dig deep and go for these or establish a limit? Well, I've hit my limit and am going to have to let these pass, no matter how much I would like to keep going, at least I'm able to document them in my records and have decent images as well. I'm currently saving and selling off some coins in hopes of acquiring a U.S. NBN of all things.  It's doubtful that I will win that note either but I'm going to give it a try, I already have my limit established, and if I don't win that note I will be left with a sizeable stash of mad money for the next note. As there always seems to be another note on the horizon. 
 

As my username is Colonial Coins UK and as my interests moved beyond the UK I started collecting coins of the British colonies, however the corresponding banknotes were beyond my reach, even more so than some of the coins.  As the ‘Impossible Set’ for Latin America does include a few of these former colonies a note from Belize (formerly British Honduras) and a couple of examples from British Guiana have been added this month removing the ‘No notes’ label. Reading up on the history of Barclays Bank was fascinating as it is still one of the major banks here in the UK.


Some other countries were also classed as ‘No notes’ so a couple of notes for Costa Rica and a couple for Ecuador have now also made it into the Set. The more I discover about the struggles of independence from Spain, the key Figures involved and the ever-changing names and boundaries of the various territories the more absorbing it is, and for some countries the search for stability is still ongoing 200 years later.

The last two notes this month are from the former Dutch colony –  Suriname. These are not the first examples as the Centrale Bank van Suriname was already represented. An example of the World War II Zilverbon issue to combat hoarding of silver coin and the post-war Muntbiljet notes from the Dutch Administration.

The Set is now upto 45 notes so still a very very long way to go


https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list  
 
 

Having been distracted by unreported control letters on a non-Mexican series of notes  this is a little bit late for the end of May but as I had already selected the notes to add, I thought why not.

The journal entry ‘From Ukraine to Guatemala’ commented on a recent auction for a 1 peso note issued by the Banco Comercial de Guatemala and how completing the issues for this bank would be an impossible set all on its own. The second Guatemalan note this month is also a 1 peso example but this time from the Comite Bancario de Guatemala – a full set of these notes would probably also be in the ‘impossible’ category. Hence one note per bank



The second Journal Entry in May added Durango to the Mexican States so to make a pair of notes from Mexico an example of the 1000 pesos denomination from the Nacional Monte de Piedad was added to the ‘Impossible Set’.

As some countries still have no representative notes, the 3rd pair of notes for this month comes from Colombia. Both honour the memory of Francisco Jose de Caldas, another interesting character in the independence of the nation states of the region, who also held a long-standing interest in science and engineering.


 
Some of the notes destined for ‘June’ should also address more of the remaining ‘No notes’ entries which seem to be becoming more obvious as the Set evolves. Current 'Impossible Set' can be found at:-
https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list
 
 
 

This evening I got the email notification that my PMG submission had shipped out and so I immediately checked the results. I am super excited by the results and I'll explain why. Last summer I was browsing new Czechoslovakian banknote listings when I came across one with a couple ratty looking bills as the first picture.
 

It said 6 bills so I looked at the pictures and hidden on the next pictures where 3 notes from 1919 that looked beautiful. The seller had it as an auction starting at $5 but they also had a make an offer option. Not knowing if the notes were real and with it not being a banknote seller I made an offer of $120 hoping it would be enough to entice them and they accepted. When I got the notes in the mail the next week my heart sank a little. The 50 korun 1919 felt wrong compared to the rest of the notes and I couldn't find the watermark. The paper felt very slick. I was a bit bummed, still excited that I got the rest of the notes and even if the one was wrong I still got a good deal on the rest. I kept researching the note looking at ones for sale and trying to find resources that talked about it. I still figured it was a fake but kept it with my Czech notes trying to determine if it truly was or not. It is the only Czech note printed using lithography. Eventually when I was getting my submission ready I decided that I would send it with. I was on the fence, the details were all right but the feel was still wrong to me.
But I took the chance.

And I am super excited that it came back legitimate. It is unfortunately not in the best condition. It has tears and annotations on the back. But I am stoked. The last one to sell on heritage was in 2019 it was graded a 30 and went for $1500 and currently on Aukro.cz there is a graded example in 25 very fine that is listed for 55000 czk = ~$2500 usd. I cant wait to get this back and see it in person.
I'll probably have another post here soon because I have some other notes that I'm excited about in this submission but I just wanted to share this.
 
 
 
 
 

A previous Journal Entry ‘A pile of tatty notes’ was on the control letters on the El Estado de Durango 5 pesos note however this issue wasn’t going to represent the State of Durango.
https://boards.pmgnotes.com/blogs/entry/1426-a-pile-of-tatty-notes/

Durango, State No. 8, is one of the largest states in Mexico, and similar to many without a coastline, has an economy based on mining and the production of a range of agricultural products. Improved transport and communication links rapidly expanded the potential market for goods, increasing production, and to facilitate this new level of commercial activity state banks were established. The Banco de Durango was founded in 1890 and this association is reflected in the vignettes on most of the notes issued, akin to the currency issued by other State Bancos the notes also feature lots of trains.

However, the selected note for the State is a remainder example of the 1 peso issue (S272r, M331r) which has a shield bearing the State Coat of Arms flanked by Liberty and Concorda (harmony). One of my reasons for selecting this note is actually the design on the back of the note, which reminded me of the, much closer to home, Lady Lavery series issued by the Central Bank of Ireland. The river god (River Lee), on the Irish £1 note, being exchanged for an allegorical female figure representing the State of Durango.

The recent Journal Entry from @Fenntucky Mike entitled ‘My Bankroll Is A Foot Thick…’ (2023 April 20) highlighted the amazing prices that some Ukranian banknotes are achieving at auction and I would like to add a recent Latin American example.


The note in question is a 1 peso example, from the first issue in 1892, by the Banco Comercial de Guatemala (S131). When this note appeared at the recent Daniel Sedwick auction (2023 May 3-4th, Lot1309) it had a starting price of 10,000USD and my first thoughts were that was a bit high to say the least! Although notes from this bank are rare, and it now resides in a World Banknote Grading AU58 holder, the same note had been sold, ungraded, in 2013 by Sincona (Auction 15, 17th October, Lot 4219) achieving a hammer price of 4000 Swiss Francs and I half expected for it to remain unsold. It turned out I could not have been more wrong and the hammer price was 22,000USD.


I guess that means my well-worn example (PMG12) looks set to stay as the representative note for this bank in my ‘Impossible Set’. Even with this dramatic difference in grade it is still possible to see that different people added the dates for these two notes and I now know what colour it is supposed to be and what the signatures are.
https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list
 
 

To say April has been busy would be an understatement, fortunately it has also been very productive and on top of everything else I even managed to start a couple of new, really interesting, projects at work
Although I have plenty of notes to expand the 'Impossible Set' the downside of all this activity has meant that I haven't been able to sort out the descriptions and so no new notes have been added. One of the major advantages of collecting coins and banknotes is that it is a flexible hobby, whether that is waiting for a particular item to appear at auction, variation in the available funds or just how much time you can spend on it.
So this just means that the expansion of the 'Impossible Set' will be a bit more erratic than planned. Life increasingly seems be a time management challenge so I may have to actually allocate slots in my diary and/or prevent family members adding things to my 'To-Do List'
 

On April 25, 2023, the NBU released into circulation new 500 Hryven banknotes bearing the signature of the new Governor Andriy Pyshnyi and dated 2023. The release is "part of a planned issuance to ensure the cash circulation of 500 Hryvnia banknotes to replace worn and damaged banknotes," per the NBU. The new note will end up being Pick # 127d, once one is assigned, and will be the 6th issuance of a 500 Hryven note of the new series which began in 2014 with the 100 Hryven banknote. The notes are available to purchase, raw, from several sellers.

As previously mentioned, this is the 6th issuance for this denomination, four for general circulation and 2 commemorative issues. The six varieties are more than any other denomination of the current series, and the four (d) printings for general circulation is tied with the 100 Hryven banknote, of which the fourth general issue was just released in December of 2022. 

The 100 & 500 Hryven banknotes of the current series have more signature varieties than any other denomination in the same series, currently twice as many, as they were the first denominations printed (2014 and 2015 respectively) and they are the first Pyshnyi signed notes to be released. All other denominations of the new series were first printed in 2018-19, roughly four years after the 100 & 500, and as a result the 100 & 500 Hryven denominations will probably always have at least one more signature variety than the rest of the denominations in this series. 
One could also assume that these are the most heavily used notes in everyday commerce/transactions by the public, and I'm sure the war in Ukraine is playing a factor as several banks defaced many bricks of notes which would need to be replaced, and now could be a good time as things have currently stalled on the front. The current inflation rate of around 24% probably isn't helping matters either, causing lower denominated bills to have less purchasing power and requiring more of them per transaction, which would make larger denominations more desirable. The 100 & 500 Hryven notes seem to be the workhorses of the Ukrainian economy, unfortunately I haven't been able to find printing figures but if I were to go by the number of different prefixes used for each denomination those notes stand head and shoulders above the rest. 
The 2021 (2022) 500 Hyrven Commemorative is a quirky little note. It was released with the signature of the previous Governor and postdated, for circulating notes this would be the norm for a period of time until new plates are made with the new Governor's signature, but since it was a commemorative, a onetime issue, it kind of sticks out in the series of notes. The 2021 dated notes with the signature of the previous Governor (Shevchenko), have an additional screen-printed design on the face, over the watermark area, which is the logo for the 300th Anniversary Celebration of the birth of Hryhoriy Skovoroda. The logo helps peg the release date of the note at 2022 (Skovoroda's date of birth being Dec. 3, 1722), print and release dates from the NBU verify this as well, and that it overlaps the current Governor's tenure by a few months just kind of makes it a little more fun to me. The notes were probably already printed prior to Pyshnyi being appointed Governor of the NBU in early October of '22, or too far along to stop production and make new plates. The timing just didn't allow for a change, I guess. The notes were released in late December, the month of Skovoroda's birth, and one has to wonder if Shevchenko didn't drag his feet a little to get one more note out with his signature. Probably not but it's fun to speculate on such things, mainly because that thought would have crossed my mind if I were in the same position. Kind of an "up yours!" or one finger salute on my way out the door. 
On a side note, I don't see PMG labeling notes with release dates after the date (year) printed on the note, (postdated notes) much if at all anymore. For example, the 2022, 500 Hryven Commemorative would have in the past been labeled 2021 (2022) on the PMG holder. I think? I wonder if they've stopped labeling notes with postdates like that? 
Varieties by denomination.

Signatures

Currently, new notes are being printed as needed, or so it seems, and there is no telling when the remaining denominations will be updated to include the Pyshnyi signature and new date (year). In 2021 there was a mass printing of every denomination for general circulation, including a separate commemorative in every denomination, with all being released from March to December of that year. In 2021 the order of release was 500, 100, 200, 20, 1000 & 50 Hryven notes, that order could be similarly repeated in 2023, or close to it. If I'm correct in my speculation I would expect to see additional print runs of the higher denominations before the lower ones and I think we may see a new run of each of the remaining denominations, last printed in 2021, before the end of the year. This would be an additional five Pick #'s, including the commemorative scheduled for release in December 2023, that could be potentially released throughout the remainder of the year. 

Been a little while since I posted. The winter has been kind of slow for acquiring banknotes, I picked up a few good pickups and lost out on quite a few others. Czech notes are still pretty hot and most of the ones that I lost out on I had solid bid that I thought would be enough, but alas.
  I actually just got a submission packed up to send off to PMG. I haven't submitted notes in a little over a year so I have 16 notes that I am looking forward to getting back. All Czechoslovakia notes, most of them are early notes that you just don't see come up for sale graded often, and when they do they are usually buy it now for way too much.

The most exciting pickup that I had last month was the Czechoslovakia P 1a, it is part of the first series of notes that were just Austro-Hungarian notes with provisional stamps attached. This one is in pretty good condition all things considering, it has a small fold at the top left corner and a couple corners show some dings or rounding, but it doesn't have any folds in the center. I'm guessing that it would be about a 55 when graded.

A pickup that doesnt fit into any of my current sets was this Croatia 5000 Kuna from 1943. I really liked the design and the traditional dress.

This 50 korun P 85a came out of nowhere and I ended up picking it up pretty quickly from the seller.

The last main pickup that I had was this 100 korun P 86a. I'm slowly filling out the socialist republic notes in my set. Most of those have been through sellers, as more of them are available and graded. I think the notes of the Socialist Republic era of the 50's and 60's are cool, the communist influences are very strong throughout. While I personally think the early notes of 1919-1920 are some of my favorites these are great as well.
Until next time.

This month all of the notes added are from Mexico, some of which have been covered in other Journal posts as examples for the States of Chiapas, Campeche and Jalisco (‘Chiapas is Mexico State No. 5’, ‘Campeche takes the No. 6 slot’ and for Jalisco ‘The land of Tequila’)

https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list

The first of the other notes added is the earliest date for the 10 pesos notes issued by the Banco Minero de Chihuahua, a reinvention of Banco Minero during the Revolution, and is dated 9th May 1914. The whole issue ran from Series A29 at S/N 330,001 with a Series change every 2500 notes continuing until S/N 630,000. This note is Series D29 and S/N 339498, so close to end (S/N 340,000) of this initial group. Collecting examples of all of the Series would be a real challenge, and probably much more difficult than searching for die numbers on Victorian sixpences.


 
Whereas the Series for the Minero note are essentially known the next entry is included in the Set as it represents an unrecorded Series; Z. R. and, for me, just demonstrates that there is still so much to discover. The ‘note’ is a 20 centavos issue from Series 2 for the Gobierno Constitucionalista del Estado Libre y Soberano de Veracruz Llave. This note is also interesting as it is the first pasteboard note in the collection and also the smallest note at 53 × 31 mm.


Another local issue is represented by a 5 pesos note from L. Guiterrez, Merida, Yucatan. In the late 1800’s there was a shortage of banknotes in Yucatan compromising trade so the major companies based in the capital city, Merida decided to issue their own notes from ~1874, one of these companies was L. Guiterrez Sucesores, established in 1860 and the largest hardware and haberdashers in the State.

The last note added during March 2023 is another important Revolutionary Issue, a 1 peso note issued by the authority of Gustavo Baz as Estado Libre y Soberano de Mexico, Toluca. Similar to the notes above there is still much to understand about this Toluca Series, particularly related to the S/Ns for different printing runs across all of the denominations. This note is probably from the second printing of Series F as the attribution on the note is in italics.


 
It is great that this month the Set is back on track, growing by at least 5 notes per month, however every note added highlights gaps in the references and thus seems to generate a completely new area of research.

With some grading credits in-hand I sent off a couple of submissions to PMG to help fill out some of my sets, mainly my specimen sets. Since I had the credits, I decided to send in a couple of duplicates, tried for a few upgrades and sent in some notes that are not worth the cost of grading. All-in-all the results were pretty good with no real disappointments or surprises, and PMG updated their Pick #'s to correctly identify all the notes. 
The first submission consisted of four notes/certificates with a denomination of 1,050,00 Karbovantsiv, listed as Pick # 101, two of the notes were "issued" and two were remainders. These are large pieces and required the oversized holder which further drove up the cost of the submission, but I definitely wanted to send in at least one example each of a used certificate and a remainder, I sent in two remainders in hopes of improving my odds of a higher grade and I sent in the second used certificate because why not.  The SCWPM did not list a # 101r, for a remainder, in the last edition so I wasn't sure how PMG would label the notes, since I had sent in examples of "issued" and remainder certificates my hope was that PMG would generate/request a new P# for the 101r. Knowing that it probably didn't exist I entered 101r for the P# on the submission form and sent them in, well, PMG pulled a new P# and labeled the certificates correctly whether how I submitted the notes had anything to do with it I don't know, but I'll take it.  I will say that this seemed to delay the submission for a few weeks as when the notes were first entered and scheduled for grading the following message was attached to the remainders description "N/A X332X due to various cases This note label has been manually entered Please contact Customer Service if you feel that this is an error", eventually this was replaced by UKE101r 1995 1,050,000 Karbovantsiv Ukraine. I imagine that the additional time was to acquire a P# and update their system. 
The remainders graded 66 & 67, the "issued" notes were both 58 EPQ.


The next submission was a group of modern specimen notes.
First up was a 1991 5 Karbovantsiv note, a tough one to find, and I was worried that PMG wouldn't label this note correctly as they have typically labeled other specimens from this series with only an "s" after the P#. The SCWP does list two different specimens for this note P# 83s1 (SPECIMEN, perforated) and 83s2 (SPECIMEN, red overprint), there are actually five different specimen variants, six if you include the printer's design, and with PMG having previously labeled my P# 81s2 as 81s I was a little nervous. Thankfully the note was labeled correctly and made its way through grading unscathed. I think some recent submissions from other individuals of the s1 notes and possibly my inclusion of both current P#'s in my registry set, may have helped with this. The only problem now is that there are several notes out there with incorrect labels and the PMG population report is lacking in information. Anyway, here's the note!


Next was a 10 Karbovantsiv note from the same series. I had the same concerns with this note as the P# 83s2 but this one made it through and was accurately labeled as well. 


Next up is P# 88s, this note filled in a hole in my NBU - 1991-1995 Issue, P81-P100, Specimen, Complete set. As did the previous two notes. 


Next up was an attempt at an upgrade but the note fell short. 


Another hole filler here in the same set, a tough note to find and I'm happy with a 64 EPQ.


Another try at an upgrade, this one worked out and replaced a 66.


Another upgrade, this one replaced a 65 EPQ. I actually sent in two of these, both graded 66 EPQ, if anyone is looking for one let me know we can probably work out a deal. 


Another successful attempt at an upgrade, this note replaced a 64 EPQ.


The rest of the notes are after the banking reform in Ukraine and are denominated in Hryvnia, I have to see if I can get the registry to expand the specimen sets for these issues to include varieties, otherwise most of these notes won't have a home.
Someone wrote "UKRAINE" in pencil on the note, I knew about it but since I had the credits, I sent it in anyway.


Pick # 118as


Pick # 119as. I actually sent in two of these as well, both graded 66 EPQ.


Pick # 119As


Pick # 120as


Pick # 121as. I sent in two of these as well, both graded 66 EPQ.


Finally, Pick # 122as


I want to start adding to my 1917-Date Ukraine type set and will probably start pulling together notes to send for a submission in early summer, but you never know what else might pop up in the meantime. 

Jalisco is the 3rd Mexican state added this month and is north of Chiapas and Campeche and more or less west of Mexico City, although the State is on the west coast Jalisco is lacking a major port. My knowledge of the State extends to the 1986 soccer World Cup with matches played in Guadalajara, the State capital – not sure why everyone here in the UK remembers that tournament.
Then there is Tequila, a major export for the State, and increasingly popular here in the UK but as I would rather have a beer than a cocktail it has been a while since I drank any!
This addition means that we are now up to 7 Mexican States and it also adds another bank to the ‘Impossible Set’.
1.   Chihuahua; 2.   Tamaulipas; 3.    Veracruz; 4.    Guerrero; 5.    Chiapas; 6.   Campeche; 7.   Jalisco
Impossible Set:-
https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list

The note for this Set is from Banco de Jalisco Series 2 issue as I have not yet been able to acquire a nice example of one of the beautiful coloured notes (unusually this is back of the note) from Series 1. The bank was founded in 1897 with Bradbury Wilkinson & Co printing the first Set of notes, running from 50 centavos to 1000 pesos – this was a bit odd, as at the time, banks couldn’t issue notes of the less than 5 pesos and therefore the two smallest denominations were redundant. Fortunately, they were saved and when regulation changes allowed the issue of these lower denominations they entered circulation in 1914 alongside the ABNC printed Series 2 notes (1902 to 1914). The example of the 50 centavos in my collection is low grade and therefore doesn’t do the colours justice at all so will need to be upgraded at some point. The bank closed in 1915 joining the fate of many other State Banks following the post-Revolution financial reforms.


 
A specimen 5 pesos note from Series C (1908, S320, M385) of the ABNC printing represents the State and as the lowest denomination is one of the more readily available notes in high grade. Contemporary counterfeits of this note exist (S328, M386) with the easiest way to tell being that the name of the printer is not correct and they are often unsigned remainders. Some notes from the first two series, A and B, may also be found with Branch overprints for Tepic, Zamora and Zapotlan – even more scope for collectors! Surprisingly, this note is the only one in the series, 5 to 1000 pesos, not to have a vignette (local scenes or an allegorical figure) on the front alongside the State Coat-of-Arms whereas all notes do share the same view of the centre of commerce, Guadalajara, on the back.

Having added Chiapas to the ‘Mexican States’ list I can now add another southern state. Campeche, which borders both the Gulf of Mexico and Guatemala is the subject of this Journal Entry – it also adds another bank to the ‘Impossible Set’.
1            Chihuahua

2            Tamaulipas

3            Veracruz

4            Guerrero

5            Chiapas

6           Campeche
Impossible Set info at:-


https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list Originally a province of Yucatan, Campeche became a separate state in the mid 1800’s following fundamental differences with decisions being taken in Merida, Yucatan. Campeche consists of a variety of terrains and like the surrounding states mix is a region rich in history with many Mayan archaeological sites. During the Mexican revolution various factions vied for control of the State due to its vital sea and land borders.

The note representing the state is a specimen example of the 10 pesos issued by the Banco de Campeche. This note is Series B indicating it was from the first printing in 1901, Series G would be second printing in 1906. Justice is represented by a female figure on the left of the front of the note, holding scales and a sword. The State coat of arms, which appears on all of the denominations, is in the centre. The back of all of the notes feature a central vignette of the view overlooking the harbour at Campeche – indicating the importance of trade and fishing to the economy of the state.




 

It has been a while since I have added to the ‘Mexican States’ which has stood at four entries for a while, this Journal Entry now adds Chiapas to the list and also a bank to the ‘Impossible Set’.
1            Chihuahua
2            Tamaulipas
3            Veracruz
4            Guerrero
5            Chiapas
Impossible Set can be found at:-
https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list
Chiapas is the southern-most state in Mexico, bordering Guatemala and the Pacific and consists of a mixture of mountains and rainforest, is a region rich in history with many Mayan archaeological sites. The State capital, and only major city, is Tuxtla Gutierrez where the Banco de Chiapas was founded in 1901. Unusually this was an American owned bank established to support the building of a railway, however one of the partners commitment was somewhat dubious and it only operated for a few months before closing. In addition, the locals tended to use a local Guatemalan currency and banking services offered by the wealthy families of the region and had no trust in a new bank. During 1902 the bank was put in the hands of a local business man and its fortunes improved greatly before merging with Banco Oriental de Mexico in 1909 following the banking reforms of 1908. During this short-time a limited number of denominations were printed by the ABNC with proof and specimen notes known for the 5, 10 and 20 pesos. The total value of issued notes, across all denominations, was only $500,000 with the Banco Oriental de Mexico recalling these following the merger and recording $440,000 as incinerated.
 
 
5 pesos               S113, M65          print 50,000
10 pesos             S114, M66          print 25,000
20 pesos             S115, M67          print 12,500
 
 
Due to the rarity of issued notes the example in my collection representing this State, is a specimen note of 20 pesos (S115s, M67s, only four PMG graded examples). The vignette on the left of the front of the note depicts a local water carrier and two children whereas the back shows an image of farm workers leading a team of oxen transporting the crop from the fields for processing. This view is appropriate as agricultural commodities such as coffee, henequen and rubber formed the basis of the economy of the region. This note is also a first for the collection in that the punch holes on the Specimen notes from this Bank are of two different sizes.
 

 
 
https://papermoneyofmexico.com/index.php/history/chiapas/banco-chiapas
 
 

All my banknotes are basically rectangular in format, although they do vary dramtically in size and orientation so it was great to add this 1 Peso note from La Provincia de Buenos Ayres to the collection as it is square! This also adds another bank to the Impossible Set which helps.
https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list
As a Napoleonic collector I realise that some of the early French Revolution issues are also square but I don't have any
Like coins there are probably examples of banknotes in every shape too - not sure how practical some would be though

 

This month saw the sale, by StacksBowers, of the Rosenmann and Ellicott Collections of Latin American banknotes at the NYINC. These were extremely impressive collections, both in rarity and grade, however given some of the prices realised completion of this Set may be more Impossible than I thought . At the moment, earlier Brazilian and Venezuelan notes also seem to be very popular everywhere with my bids not even coming close to the final price.
For some unknown reason I had also missed Costa Rica off the country list, odd, as I have some notes in my collection from there with the modern ones being very colourful. This ‘oversight’ would also not have helped in completing the Set!
Current status of the Impossible Set can be found at:-


https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list This month saw five more examples added to the Set, these were from Brazil-Banco Central do Brasil, Chile-Banco de Curico, El Salvador-Banco Central de Reserva de El Salvador, Nicaragua-Banco Agricola-Mercantil and Peru-Banco de Arequipa. This brought the total number of notes to 20, so at this rate 30 or 40 years should do it . The Chilean note was my first note with counterfoils attached and thus very different to the way things are done now. One of the things I find interesting about this period is the numerous currencies and the odd denominations that you sometimes get – the Peruvian note is for 40 centavos and is still my only note of this value.

Putting the comments together for the Banks, and the individual notes, has just highlighted that the information gaps in the usual references are not restricted to the small, short-lived banks – means lots of work to do but that is part of the fun, hopefully descriptions will improve as the Set progresses.