PMG-certified Chinese Progressive Proof Realizes $120,000

Posted on 7/1/2019

PMG-graded notes dominate at Heritage currency auction in Hong Kong.

A Paper Money Guaranty® (PMG®)-certified 1965 China 10 Yuan Progressive Proof was the top lot at a sale in late June 2019 presented by Heritage Auctions. Graded PMG 63 Choice Uncirculated, it realized $120,000 (USD).

The People’s Republic of China 1965 10 Yuan Progressive Proof graded PMG 63 Choice Uncirculated. It realized $120,000 (USD).
Click image to enlarge.

The note is a progressive proof, meaning it was created with a partial lithographic print as a step in the development of the final version. A 10 yuan with a similar design was used in circulation, but that version had some key differences, including fewer medals on the citizens on the front of the note.

Heritage Auctions’ HKINF World Currency Signature Auction - Hong Kong was dominated by PMG-graded notes. In fact, the top 20 single-note lots were all graded by PMG. These included a Yuan Dynasty note on mulberry paper that is about 700 years old, as well as other notes from China and elsewhere in Asia.

PMG-graded highlights from the auction included:


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