PMG-certified ‘Banana Boat’ Note Among Asian Rarities in April Stack's Bowers Galleries Sale

A rare Hong Kong “Banana Boat” 50 Dollar note that has been certified by PMG is among the hundreds of PMG-certified notes being offered in an ongoing Stack’s Bowers Galleries sale. Bidding is already underway for the Hong Kong (SAR) Showcase Auction, which includes Session A and Session B, concluding on April 17 and 18, 2026, respectively.

The Hong Kong, Mercantile Bank of India 1912-30 50 Dollars graded PMG 30 Very Fine (Session B, lot 31227) is being called the “holy grail” of Hong Kong banknotes because of its rarity and impressive condition. Only 23,500 examples of this note reportedly were printed across all three known dates of the 50 Dollar denomination, and very few of them have come to auction. In fact, this is currently the only PMG-certified issued example, according to the PMG Population Report. The Hong Kong rarity has an estimate of $80,000 to $120,000.

Other PMG-certified notes in the auction include:

• a Japan ND (ca. 1870) 25 Dollars Specimen Proof graded PMG 64 Choice Uncirculated (Session B, lot 31456) with an estimate of $60,000 to $80,000
• a China ND (ca. 1880) 25 Mexican Dollars Specimen Proof graded PMG 64 Choice Uncirculated (Session A, lot 30284) with an estimate of $50,000 to $75,000
• a Sarawak unissued 5 Dollars Specimen graded PMG 58 Choice About Uncirculated (Session B, lot 31560) with an estimate of $50,000 to $75,000
• a Hong Kong, Hong Kong & Shanghai Banking Corporation 1916-23 5 Dollars graded PMG 55 About Uncirculated (Session B, lot 31097) with an estimate of $40,000 to $60,000
• a China, Russo-Asiatic Bank 1917 2,000 Rubles Transferable Note graded PMG 25 Very Fine (Session A, lot 30302) with an estimate of $30,000 to $50,000
• a China, Russo-Asiatic Bank 1917 3,000 Rubles Transferable Note graded PMG 25 Very Fine (Session A, lot 30303) with an estimate of $30,000 to $50,000
• a China, Russo-Asiatic Bank 1917 5,000 Rubles Transferable Note graded PMG 25 Very Fine (Session A, lot 30304) with an estimate of $30,000 to $50,000
• a China, Chili Provincial Bank 1916 100 Dollars graded PMG 50 About Uncirculated (Session A, lot 30376) with an estimate of $30,000 to $50,000
• a Straits Settlements / British Administration 1925-27 100 Dollars graded PMG 30 Very Fine EPQ (Session B, lot 31576) with an estimate of $30,000 to $50,000
• a China, Ili Official Currency Board 1912 300 Cash graded PMG 20 Very Fine (Session A, lot 30367) with an estimate of $25,000 to $35,000
• a Hong Kong ND (1912) 50 Dollars Color Trial Specimen graded PMG 62 Uncirculated (Session B, lot 31009) with an estimate of $25,000 to $35,000
• a China 1912 500 Taels Specimen graded PMG 25 Very Fine (Session A, lot 30388) with an estimate of $12,000 to $18,000
• a Macau, Banco Nacional Ultramarino 1958 500 Patacas graded PMG 45 Choice Extremely Fine (Session B, lot 31319) with an estimate of $10,000 to $15,000
• a Philippines, Treasury Certificate 1918 (ND 1919) 5 Pesos Replacement graded PMG 64 Choice Uncirculated EPQ (Session B, lot 31506) with an estimate of $10,000 to $15,000
• a Malaya & British Borneo ND; 1953 50 Dollars Color Trial Specimen graded PMG 64 Choice Uncirculated (Session B, lot 31479) with an estimate of $8,000 to $12,000

Estimates are provided by the auction house. The $ symbol represents US Dollars.