Lot 7590

World Banknotes - India - Princely States - Hyderabad - 5 Rupees serie LQ 063613 w/o signature. Sea salvage note (no stamping) unissued FE 1331 (1920) - (P. S263a) - VG/F - This banknote was recovered in June 1932 from the British P&O steamship ‘Egypt’ which sunk 25 miles southwest off the coast of Ile d’Ouessant (Isle of Ushant) France, May 20th 1922, in a depth of 400 feet. The liner was on it’s way to Bombay and collided with the French Cargo Steamer ‘Seine’ in thick fog. In Egypt’s bullion room was a tremendous treasure of 1,054,000 pounds in gold and silver bars and coins (sovereigns). After ten years of preparation most of the gold and silver was recovered by the Italian salvage vessel Artiglio II including over 1,000,000 Hyderabad rupees in 5, 10 en 100 rupee notes with no face value. These notes were worthless because the signature of the Finance Minister of Hyderabad was intentionally omitted, to be added later upon arrival in India. – Source: ‘Twenty thousand rupees under the sea’ – John E. Sandrock