The American sales company Heritage Auctions is still in the spotlight in the News section of numizon! On September 9, 2019, the auction house is going to auction off a rare 50 riyals type 1846 (Ref: Pick # A2) from Dar El-Mal State Bank. The only copy we know is visible on colnect.com! The photo below would be the second known copy. This one is slabed PMG 25 Very Fine and is offered at a starting price of $ 5000 for an estimate between $ 10,000 and $ 15,000 (lot # 28603). According to HA, the last copy for sale dates back to 2007!
Banknotes of 50 riyals are circulated in the mid-nineteenth century. At that time, Tunisia is under control of the Ottoman Administration and its revenues are highly dependent on the "institutional" piracy in the Mediterranean Sea. The great powers are annoyed and threaten the country with reprisals. Deprived of its main source of money, the Tunisian economy begins to encounter significant financial difficulties that lead to the bankruptcy of 1869. For the next ten years, the country is supported by international aid finally justifying the French invasion in 1881. The colonial authorities set up a Protectorate by bringing their own monetary system which marks the definitive cessation of Riyal banknotes.
And as HA says in their sales commentary, so it's really a miracle that this banknote has survived so long and has reached us in this grade. An exceptional banknote that will not be for anybody but that we wanted to highlight. In any case, we have definitely entered in the catalog of numizon bankotes!
Since the publication of this article, the banknote has exceeded its estimate to achieve the price of $ 18,000.00 (sales fees included).