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100 Greatest 1931 Palestine 100 Mils Soars at Auction

Even after the publication of Charles Morgan and Hubert Walker’s 100 Greatest Modern World Coins (Whitman), the market landscape for 20th-century world coins is still uncharted territory. At Goldberg’s September 15-16 auction, this fact was made abundantly clear after the finest-known Palestine 1931 100 Mils silver coin sold at auction for $25,000 USD – exactly five times more than the firm’s $5,000 estimate.

Graded MS64 by PCGS, the 100 Mils is a key date of an important Middle East crown type. Produced at the British Royal Mint, this .720 fine coin measures 29 mm and weighs 11.6638 grams. A total of 250,000 100 Mils coins were struck in 1931, but nearly all circulated, making Mint State examples a condition rarity.

Mint State examples of the issue are so elusive, that Morgan and Walker ranked this coin as the 96th greatest coin in their survey.

Goldberg’s described the coin as having “Satiny white, near-gem surfaces, with attractive golden patina around devices and inscriptions.” A few minor marks likely kept the coin from earning the gem grade of MS65.

The coin was the highlight of collector Abe Sofaer’s collection of British Palestine Mandate coins. Also included in his set was a near-Gem 1931 50 Mils in PCGS MS64 and a 1940 20 Mils graded MS65 by PCGS.

All of Sofaer’s Palestinian coin and token lots are pictured and described, along with the prices realized, at www.goldbergcoins.com.

This article was extract from ABC

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