Stack’s Bowers Galleries’ Spring 2024 Maastricht Results Show Strong World Paper Money Market

“Our Maastricht auctions demand notes that excite collectors and draw the biggest collectors out for our consignors,” said Dennis Hengeveld.

by Stacks Bowers Galleries | Published on May 14, 2024

Costa Mesa, CA – The Spring 2024 Maastricht Auction, held on May 9 by Stack’s Bowers Galleries, offered 711 lots of paper money from all over the world. Held in conjunction with the MIF Paper Money Fair, the sale saw nearly $1.4 million in prices realized, driven by bidders participating from around the globe. “We were delighted to see everyone again at what became the most heavily attended MIF show to date. The response to Dennis Hengeveld joining the team was as tremendous as the record setting results on many of the lots in the sale,” said Aris Maragoudakis, the firm’s Director of World Currency.

Results from the single session were led by two notes from the Deutsch-Asiatische Bank from the Al Kugel Collection. Lot 50223, a 10 Dollar specimen from Tsingtau graded PMG Choice Uncirculated 63 realized $78,000, while lot 50222, a 1 Dollar specimen from the same branch graded PMG Choice Uncirculated 64 brought an equally impressive $72,000. The European section was led by lot 50487, a 1935 20 Latu specimen from Latvia graded PMG Choice About Uncirculated 58, (also from the Al Kugel Collection) that brought $43,200.

For collectors of banknotes of the Americas key rarities included the Landhuis Collection of Curacao, one of the finest selections ever to come to the market. Lot 50268, a 100 Gulden 1954 from Curacao graded PMG Choice Very Fine 35 brought $13,200. A private issue put into circulation during a coin shortage in the 1890s by Wed. Willem P. Maal was offered in lot 50292. That note, graded PMG Choice Fine 15, brought $5,040.

Collectors of finest known examples had plenty of options in the sale, including lot 50029, an Austrian 1000 Schilling dated 1947 graded PMG Superb Gem Uncirculated 68 EPQ, which brought $10,200. Another grade rarity was offered as lot 50357, a 5 Roupies from French India graded PMG Choice About UNC 58, that realized $7,800.

“Our Maastricht auctions demand notes that excite collectors and draw the biggest collectors out for our consignors,” said Dennis Hengeveld, Director of Consignments and former President of World Banknote Auctions (recently acquired by Stack’s Bowers Galleries). He added: “It has been wonderful to bring the WBNA collectors with me. We’ve begun combining our efforts to produce another marquee offering in the fall, including additional selections from the important Al Kugel Collection.”

Complete prices realized for the Stacks’ Bowers Galleries Spring 2024 Maastricht auction can be found at All prices realized include 20% buyer’s premium. For additional questions regarding this sale, or to consign to the Fall 2024 Maastricht auction or any of the firm’s other sales, please contact Stack’s Bowers Galleries at 800-458-4646 or email Dennis Hengeveld at

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Source: Stacks Bowers Galleries

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Stack's Bowers Galleries conducts live, Internet and specialized auctions of rare U.S. and world coins and currency and ancient coins, as well as direct sales through retail and wholesale channels. The company's 80-year legacy includes the cataloging and sale of many of the most valuable United States coin and currency collections to ever cross an auction block — The D. Brent Pogue Collection, The John J. Ford, Jr. Collection, The Louis E. Eliasberg, Sr. Collection, The Harry W. Bass, Jr. Collection, The Joel R. Anderson Collection, The Norweb Collection, The Cardinal Collection and The Battle Born Collection — to name just a few. World coin and currency collections include The Louis E. Eliasberg, Sr. Collection of World Gold Coins, The Kroisos Collection, The Alicia and Sidney Belzberg Collection, The Wa She Wong Collection, The Guia Collection, The Thos. H. Law Collection, and The Robert O. Ebert Collection.

Topping off this amazing numismatic history is the inclusion of the world record for the highest price ever realized at auction for a rare coin, the 1794 Flowing Hair Silver Dollar graded Specimen-66 (PCGS) that realized over $10 million, part of their sale of the famed Cardinal Collection. The company is headquartered in Santa Ana, California, with offices in New York, Wolfeboro, Hong Kong, and Paris. Stack's Bowers Galleries is an Official Auctioneer for several important numismatic conventions, including American Numismatic Association events, the New York International Numismatic Convention, the Whitman Coin & Collectibles Spring, Summer and Winter Expos, and its April and August Hong Kong Auctions.

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