On December 26, 2019, a 50-franc RCFTO Type 1923 note (Ref. Pick: # R9, Pirot: #135-09 or Rosenberg: # R863a) was sold on ebay (ebay item: # 372882433435) at the price of € 938. The copy is numbered "A.1 - 039,246". (R.C.F.T.O: Franco-Belgian Railways Administration in Occupied German Territory).

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After analyzing the two photos of the sale, we estimated that the note was in VF/XF grade, that is, a marked central fold and multiple pinholes in the corners. The bill was probably unfortunately pinned on some medium. The sale was hotly contested with 53 auctions for 9 participants. And for good reason ! It is only the 14th known copy for the Type. See the Numizon inventory below:

  1. A.1 - 001,824 in F/VF grade,
  2. A.1 - 005,576 in F/VF grade sold € 251 by cgb.fr, Paper Money # 25 (lot # p25_0442),
  3. A.1 - 016,394 in VG grade,
  4. A.1 - 024,339 in F grade sold € 210 on ebay in February 2019,
  5. A.1 - 025,798 in F/VF grade,
  6. A.1 - 032,782 in VG grade sold € 150 on delcampe in November 2015,
  7. A.1 - 039,073 in VF grade,
  8. A.1 - 039,225 in XF+ grade purchased by Numizon at € 1,500 in Valkenburg in September 2019,
  9. A.1 - 039,246 in VF/XF grade sold € 938 on ebay in December 2019,
  10. A.1 - 083,888 in VG grade sold € 240 by cgb.fr in November 2015 (lot # b95_1517),
  11. A.1 - 084,010 in VF grade sold at € 700 by Heidrun Höhn, Auction # 74 in 2012 (lot # 171),
  12. A.2 - 102,481 in F/VF grade sold for $ 1,100 (with a 100 francs) by AIA in June 2016 (lot # 618),
  13. A.2 - 193,405 in XF grade,
  14. A.2 - 197,410 in F/VF grade, sold for £ 200 by Spink, Auction # 18050 in 2018 (lot # 456).

5 other copies are known in alphabet "B.21" but these are not counted in the inventory, because this alphabet was specially issued for collectors!

  1. B.21 - 005,003 in XF grade,
  2. B.21 - 005,004 in XF grade,
  3. B.21 - 005,038 in XF+ grade,
  4. B.21 - 005,050 in AU grade,
  5. B.21 - 005,060 in AU grade.

Note: the 50 francs RCFTO Type 1923 and the 100 francs RCFTO Type 1923 are the only banknotes in the series to have a watermark with letters "RCFTO". The "SPECIMEN" is very often proposed in alphabet "B.21" and in specimen with the overprint "SPÉCIMEN" in oblique lower right, in the auctions organized by the big numismatic houses.

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