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This pencil was presumably issued as a souvenir to celebrate the arrival of Cleopatra's Needle in The U.K.
Made of red granite, the obelisk in fact had no connection with Cleopatra but was originally erected at Heliopolis c.1450 B.C. in the reign of Thutmose III. Presented to the United Kingdom by the viceroy of Egypt, Mehemet Ali, in 1819, to commemorate earlier British victories over Napoleon's armies on the Nile, it remained at Alexandria until 1877 because the British government refused to bear the transport costs. In that year the celebrated anatomist, Sir William Wilson, sponsored it's transportation at a cost of 10,000 pounds, a vast some at the time, & after a circuitous & disastrous journey by sea it finally arrived at Gravesend on 21/1/1878 & was erected on Victoria Embankment in August of that year.