This podcast episode features a discussion about the market update around the auction houses in December 2024. We pay special attention to The Cook Collection of Central & Eastern European Banknotes, assembled by Joe Cook, a journalist who developed a passion for banknotes while working in the region in the late 1990s.
Here are some of the key points about the collection:
- Joe Cook’s collection began in 1998 when he purchased an album of old banknotes in Bucharest. The banknotes sparked his interest in the political and economic history of the region between Germany and Russia.
- Cook’s collecting took off as he traveled around Central and Eastern Europe while working as a journalist. He would visit numismatic shops and antique dealers to find banknotes.
- The collection includes banknotes from Albania, Bulgaria, Czechoslovakia, Romania, and other countries. Many of the notes are from the early to mid 20th century and reflect the tumultuous political changes of the era.
- The collection features rarities such as Albanian and Bulgarian color trials printed by Bradbury Wilkinson, as well as American Banknote Company specimens and proofs for Czechoslovakia and Romania. Some of these notes were readily available at face value 20 years ago but are now in high demand.
- The Cook Collection was recently sold at auction, with the majority of the pieces exceeding their estimated prices. One example is the 100 Franka Ari from Albania which made USD 17,000 from an estimate of USD 1,800.
- The collection showcases the historical significance of national currencies from the region, especially as many have been replaced by the Euro.