1.000 złoty 1794 - A - full watermark [J HONIG & Z]OONEN - RARE

Unquestionably the most prestigious and one of the rarest Polish banknotes, an icon of Polish paper money.

The highest denomination of the first Polish banknotes from the period of the Kościuszko Insurrection, issued in a print run of only one thousand pieces. A legendary item, yet at the same time so rare that many collectors consciously assume, already at the beginning of their collecting journey, that acquiring a piece of this class will remain beyond their reach. Its high purchasing power at the time and the short circulation period of less than three months meant that the banknote had virtually no chance to become widely dispersed in circulation. Introduced on August 16, 1794, it was withdrawn as early as November 6 of the same year.

The banknote is known almost exclusively from the largest and most prestigious collections, including the Lucow Collection, the holdings of the Czapski Museum in Kraków, the Ethnographic Museum in Łódź, and for several years now also the Paper Museum in Duszniki-Zdrój. In private collections it appears only in a few examples scattered around the world. Since 1989, only seven domestic auction appearances have been recorded. Significantly, this note did not appear even at the legendary 5th WCN Auction, during which the Dąbrowski Collection was sold, still regarded as the finest auction of Polish paper money in history.

The offered banknote presents itself exceptionally well and is very pleasing to the eye, although with visible traces of localized conservation treatments, which included reinforcement of horizontal folds with partial delamination, including one central fold across the entire width. In the upper part of the banknote, traces of infill are visible, without retouching. Along the edges on the reverse, remnants of earlier mounting can be seen, probably on some presentation board unknown to us. It should be emphasized, however, that the colors of the print show no signs of prolonged exposure to sunlight. The unprinted side does not display numerous folds, apart from those mentioned that have undergone delamination. Additionally, two natural paper wrinkles are visible on the reverse.

The coloration remains surprisingly well preserved and properly saturated; the paper retains its stiffness and natural texture on the unprinted side, excluding the areas affected by conservation. The dry stamp is flat but legible, with only fragmentary original sheen remaining.

The specimen was printed on a sheet fragment containing the full inscribed element of the Hoonig & Zoonen watermark along with a fragment of the coat of arms. This is the most impressive and most desirable variant of the watermark, giving the banknote an exceptional, almost unique character. Among the examples recorded to date, only two possessed a fragmentary watermark, while in the Lucow Collection no specimen with a clearly legible watermark was recorded, which further enhances the significance of the offered piece.

The offered banknote is without doubt the “Holy Grail” of Polish banknotes. In the presented variant with the full inscribed fragment of the watermark, we have the pleasure of encountering the highest Kościuszko denomination in its most representative form.

Polecamy

When comparing the 500 and 1,000 złotych denominations from the period of the Kościuszko Insurrection, it is worth noting an apparent paradox. Although the 500 złotych note was printed in a run of only 500 pieces and the 1,000 złotych in approximately thousand pieces, it is the 1000 złotych denomination that is encountered far more rarely today.

At the same time, it is impossible to overlook a phenomenon that has repeated itself for decades in numismatics and notaphily – the magic of the highest denomination of a given issue. It is precisely this denomination that always concentrates the greatest emotions, aspirations, and ambitions of collectors. It is difficult to imagine anything more prestigious than the highest denomination of the first issue of Polish banknotes, which forms the foundation of the entire history of Polish paper money.

It is therefore no coincidence that the 1,000 złotych note has achieved the highest prices. In one of our auction results, its price exceeded 300,000 złotych. Admittedly, this was a specimen in the finest known state of preservation, but the very fact of achieving such a result confirms that this banknote operates in a league of its own. It is an object that, regardless of temporary fashions, trends, or market corrections, will always remain an object of collectors’ sighs.

Equally important, with such an extremely limited number of surviving examples, the issue of condition becomes secondary. Even specimens after conservation, with repairs or traces of intervention, remain exceptional pieces. In the case of the highest denomination of the Kościuszko Insurrection, the mere fact of the banknote’s appearance on the market is of primary importance, and its ownership, regardless of condition, will always be a source of pride.

Mateusz Wójcicki