Two Vintage Chinese Notes Certified by PMG Each Realize More than $100,000 in Hosane Sale

Two early banknotes of China's Renminbi led a group of hundreds of rarities certified by Paper Money Guaranty® (PMG®) that were offered by Hosane, an auction house in mainland China. The Hosane 2024 Spring Auctions - Chinese Banknotes session was held May 19, 2024.

The top lot in the session was a China / People's Republic 1951 10,000 Yuan graded PMG 25 Very Fine (lot 2454), which realized 1,115,500 RMB (about $154,000). This is an example of the "Running Horses" type of this high-denomination note and was used in the inner Mongolia region. It is the rarest note in the First Series of Renminbi, with only 36 issued examples listed in the PMG Population Report.

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Meanwhile, another rare First Series of Renminbi note realized 977,500 RMB (about $135,000): a China / People's Republic 1950 50,000 Yuan graded PMG 65 Gem Uncirculated EPQ (lot 2458). The agricultural-themed note has the highest denomination of the notes used in the early years of the People's Republic of China. Withdrawn by 1955, only 132 examples are listed in the PMG Population Report, with just four finer than this particular example.

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Other PMG-certified highlights in the sale included:

• a China / People's Republic 1951 5,000 Yuan graded PMG 8 Very Good (lot 2453) that realized 276,000 RMB (about $38,000)
• a China / People's Republic 1953 5,000 Yuan graded PMG 65 Gem Uncirculated EPQ (lot 2450) that realized 258,750 RMB (about $36,000)
• a China / People's Republic 1949 5,000 Yuan graded PMG 66 Gem Uncirculated EPQ (lot 2449) that realized 230,000 RMB (about $32,000)
• a China / People's Republic 1948 1,000 Yuan graded PMG 65 Gem Uncirculated EPQ (lot 2444) that realized 212,750 RMB (about $29,000)
• a China / People's Republic 1951 10,000 Yuan graded PMG 30 Very Fine (lot 2452) that realized 172,500 RMB (about $24,000)
• a China / People's Republic 1949 50 Yuan graded PMG 40 Extremely Fine EPQ (lot 2409) that realized 115,000 RMB (about $16,000)
• a lot of two China, Bank of China 1914 5 Yuan notes, each graded PMG 50 About Uncirculated (lot 1762) that realized 97,750 RMB (about $14,000)
• a China / People's Republic 1949 5 Yuan graded PMG 53 About Uncirculated (lot 2392) that realized 80,500 RMB (about $11,000)
• a China / People's Republic 1949 1,000 Yuan graded PMG 65 Gem Uncirculated EPQ (lot 2446) that realized 80,500 RMB (about $11,000)
• a China / People's Republic 1950 50,000 Yuan graded PMG 55 About Uncirculated (lot 2457) that realized 74,750 RMB (about $10,000)

In addition, a separate paper money session was held on May 18, 2024, featuring Chinese Banknotes from the Collection of Yan Letang and Professor Hsu Yih-Tzong. Top highlights included a China ND (1910) 10 Dollars Back Color Trial Specimen graded PMG 63 Choice Uncirculated (lot 1121) that realized 345,000 RMB (about $48,000) and a China, Hupeh Government Mint 1899 $1 = 7 Mace, 2 Candareens graded PMG 35 Choice Very Fine (lot 1125) that realized 253,000 RMB (about $35,000).

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