From the Grading Room: PMG Grades a Very Special P.R.C. Rarity
Posted on 4/23/2013
Notes that combine both exceptional rarity and immense quality do not often find their way to public auctions once they have found a home in a well-known and respected collection, but when they do you can bet that only the most astute collectors will be gunning for it. This 1951 10,000 Yüan (Pick #858a) is a prime example of such a note. Last offered for public sale in 2005 at a Spink auction (#5032 Lot #189) as a part of the W.H. Lu Collection, this note hammered for HK$60,000 (roughly $77,000 USD). PMG recently had the extreme pleasure of grading this rarity – a plate note from The People’s Republic of China First Issue (p. 191) – and determined the note to be of excellent quality indeed. As only the second note for the type graded by PMG, this example easily found its way to the top of the population for its condition as well as its considerable provenance.
An example of elegance at its finest, the design of this note utilizes a simple yet artistic jet black central vignette which depicts a Chinese workforce and their camel train. The red-brown frame which borders the camel train is the same color that dominates on the back of the note. The back utilizes a very intricate multi-guilloche design with a cyan underprint.
This beautiful 10,000 Yüan is an example of sheer excellence and one of the keys to the series paired with an outstanding pedigree. This combination makes this a one-of-a-kind note that many collectors would be envious and honored to own.