Five PMG-certified Notes Realize More than $50,000 Each in Heritage Sale

A high-denomination Chinese rarity led hundreds of banknotes certified by Paper Money Guaranty® (PMG®) that were included in the HKINF World Fair Paper Money Signature Auction presented by Heritage Auctions on June 20, 2023. The top 10 notes in the sale are certified by PMG, including five that realized more than $50,000.

The star of the sale was a China, Sinkiang Provincial Bank 1949 6,000,000,000 Yuan = 10,000 Gold Yuan graded PMG 64 Choice Uncirculated EPQ (lot 24157), which realized $78,000. This rare banknote has great significance as it holds the title of being the highest denomination ever issued by a Chinese bank. It is the finest-graded example of what is known by its catalog number as Pick# S1797, and one of only two of these notes in Uncirculated condition in the PMG Population Report.

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Also finishing strong was a China / People's Republic 1953 3 Yuan graded PMG 66 Gem Uncirculated EPQ (lot 24088), which realized $66,000. This particular note belongs to the second series of Chinese currency, the Renminbi. What makes it special is its uncommon denomination, introduced as a symbol of the friendship between China and the Soviet Union. However, due to the deterioration of the Sino-Soviet relationship, the design of the note was not continued or renewed.

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Other PMG-certified notes that were sold in this auction included:

• a Straits Settlements / British Administration 1901 50 Dollars graded PMG 20 Very Fine (lot 24319) that realized $66,000
• a Straits Settlements / British Administration 1901 100 Dollars graded PMG 15 Choice Fine (lot 24321) that realized $66,000
• a China Duetsch-Asiatische Bank 1914 100 Dollars graded PMG 66 Gem Uncirculated EPQ (lot 24123) that realized $55,200.
• a China, Netherlands Trading Society 1909 5 Dollars graded PMG 66 Gem Uncirculated EPQ (lot 24142) that realized $33,600
• a China, Hong Kong & Shanghai Banking Corp. 1922 5 Dollars graded PMG 58 Choice About Uncirculated EPQ (lot 24124) that realized $21,600
• a China 1922 50 Dollars Specimen graded PMG 64 Choice Uncirculated (lot 24143) that realized $21,600
• a Hong Kong 1901 100 Dollars Specimen graded PMG 64 Choice Uncirculated (lot 24202) that realized $19,200
• a Straits Settlements 1901 “Contemporary Counterfeit” 100 Dollars graded PMG 15 Choice Fine (lot 24322) that realized $19,200
• a Great Britain, Bank of England 2003 £10,000,000 graded PMG 64 Choice Uncirculated (lot 24179) that realized $18,600
• a China / People’s Republic 2000 100 Yuan Specimen graded PMG 66 Gem Uncirculated EPQ (lot 24101) that realized $18,000
• a China 1902 50 Taels Specimen graded PMG 65 Gem Uncirculated EPQ (lot 24149) that realized $17,400
• a Hong Kong, Mercantile Bank of India, Ltd., 1941 50 Dollars graded PMG 25 Very Fine (lot 24245) that realized $16,800
• a Hong Kong Chartered Bank of India, Australia & China 1931-34 50 Dollars graded PMG 25 Very Fine NET (lot 24182) that realized $16,200
• a China, Pei-Yang Tientsin Bank ca. 1910 1 Dollar graded PMG 65 Gem Uncirculated EPQ (lot 24162) that realized $15,600

Prices realized include a buyer’s premium. The $ symbol represents US Dollars.