DALLAS, TX.- Paper currency and coins from Zanzibar are as considered as desirable and exotic as a trip to the archipelago of islands off the eastern coast of the Africa.

To elite collectors of international paper money, banknotes from Zanzibar are among the most desirable of all world issues, which explains the groundswell of demand for an Official Leather-Bound Presentation Album of Zanzibar Government Notes (estimate: $400,000+) that will be offered Nov. 15 at Heritage Auctions in The Ibrahim Salem Collection of Islamic Countries Part I Signature® Auction.

Zanzibar is a semi-autonomous region of its nearest neighbour, Tanzania, but at times over the last five centuries, it has been occupied or colonized by Portugal, Oman and Great Britain.

"There was a need for currency when Great Britain established its protectorate in Zanzibar," says Heritage Auctions Vice President of Numismatics Dustin Johnston. "The government of Zanzibar authorized Waterlow & Sons to print a series of banknotes, the first of which was dated 1908 and included four denominations: 5, 10, 20 and 100 Rupees — each dated 1908 and featuring the signatures of Charles Edmond Akers and James Corbett Davis.

"A proof of each one is included in this booklet, which is exceedingly rare, and probably unique, as our experts are unaware of any other complete denomination set from 1908, making this an exceptional opportunity for the winning bidder."

Issued notes, Specimens and Proofs remain elusive today, and official presentation pieces are nearly impossible to find, as only a select few are known extant. All notes from Zanzibar are uniface, so none has a design on the back side.

All lots in this auction are from Ibrahim Salem, who is widely regarded as one of the most dedicated of all banknote collectors. He aggressively sought notes from all countries and regions around the globe; this auction is the second at Heritage Auctions to feature a trove of his exceptional banknotes. His Collection of United States Banknotes was an important part of Heritage Auctions' Central States US Currency Signature® Auction May 4-7.

"Ibrahim Salem is one of the most prominent and respected banknote collectors in the world," Johnston says. "The notes offered in this auction are another phenomenal instalment from his distinguished collection."

A design architect whose collecting interests also include antiques, paintings, watches and books, Salem said his assemblage of banknotes is his favourite.

"My banknotes collections are considered my babies and my kids," Salem says. "The only deference than buildings is that the collections never see the sun. Every single banknote, whether it is issued, specimen, essay, colour trial, artist impression, etc., reminds me of an incident (and) why I added it to my collection." ArtDaily