Two Ultra-rare PMG-certified Chinese Banknotes Offered in Spink Sale
Posted on 5/18/2021
Two ultra-rare notes from the People’s Republic of China, certified by Paper Money Guaranty® (PMG®), are in the spotlight at Spink’s Numismatic Collector’s Series sale in Hong Kong, China. Auctions 62A and 62B feature a variety of PMG-certified notes. Online bidding is currently underway for the auctions, being held May 22-25, 2021.
At the forefront of the sale is a China 1951 10,000 Yuan graded PMG 50 About Uncirculated (auction 62A, lot 269). It has an estimate of HK$2,400,000 to HK$3,000,000 (about $309,000 to $390,000 USD).
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| China 1951 10,000 Yüan graded PMG 50 About UncirculatedClick images to enlarge. | |
Issued in 1951, the “Running Horses” note was used only for a few years and primarily in a lightly populated northern region bordering Mongolia. The print run was likely small, and few people could afford to save such a high-denomination note. Only about 100 examples of Pick# 858Aa are thought to still exist.
Another highlight in the sale is a rare China 1975 2 Yuan Proof graded PMG 62 Uncirculated pedigreed to the Hsu Yih Tzong Collection (auction 62A, lot 292). It has an estimate of HK$1,250,000 to HK$2,800,000 (about $161,000 to $360,600 USD).
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| China 1975 2 Yuan Proof graded PMG 62 Uncirculated and pedigreed to the Hsu Yih Tzong Collection Click images to enlarge. |
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The front of the note depicts “Iron Man” Wang Jinxi, a model worker and socialist hero. He is known for leading a drilling team that helped make the Daqing Oil Field China’s first world-class oil field. In one instance, he prevented a well blow-out by mixing mud with his own body. The note was not approved for circulation, so it was never officially issued.
Other PMG-graded highlights in the sale include:
- a Straits Settlements ND (1875-99) 100 Dollar Specimen graded PMG 63 Choice Uncirculated NET (auction 62B, lot 1067), with an estimate of HK$250,000 to HK$350,000 (about $32,200 to $45,000 USD)
- a China, Hong Kong ND (1911-22) 5 Dollar Front Printer’s Model and Back Printer’s Model certified by PMG (auction 62B, lot 1197), with an estimate of HK$250,000 to HK$350,000 (about $32,200 to $45,000 USD)
- a China, Hong Kong, HK & Shanghai Banking Corp. 1884-89 5 Dollar graded PMG 12 Fine NET (auction 62B, lot 1246), with an estimate of HK$220,000 to HK$350,000 (about $28,300 to $45,000 USD)
- a couple of China 1949 5 Yuan Specimens graded PMG 40 Extremely Fine NET and graded PMG 40 Extremely Fine (auction 62A, lot 212), with an estimate of HK$100,000 to HK$350,000 (about $12,800 to $45,000 USD)
- a China, Hong Kong 1911-23 10 Dollar Specimen graded PMG 64 Choice Uncirculated (auction 62B, lot 1204), with an estimate of HK200,000 to HK$300,000 (about $25,800 to $38,600 USD)
- a China, Hong Kong, HK & Shanghai Banking Corp. 1893-98 10 Dollars graded PMG 64 Choice Uncirculated (auction 62B, lot 1253), with an estimate of HK$200,000 to HK$300,000 (about $25,800 to $38,600 USD)
- a China 1972 10 Yuan Artist’s Rendition certified by PMG (auction 62A, lot 291), with an estimate of HK$200,000 to HK$300,000 (about $25,800 to $38,600 USD)
- a group of four China Specimen notes — 1999 (ND 2000) 10 Yuan, 1999 20 Yuan, 1999 (ND 2001) 50 Yuan and 1999 100 Yuan — graded PMG 58 Choice About Uncirculated EPQ to PMG 65 Gem Uncirculated EPQ (auction 62A, lot 313), with an estimate of $190,000 to HK$250,000 (about $24,400 to $32,200 USD)
- a China, Hong Kong, HK & Shanghai Banking Corp. 1916-23 5 Dollar graded 40 Extremely Fine (auction 62B, lot 1250), with an estimate HK$180,000 to HK$240,000 (about $23,200 to $30,900 USD)
- a China, Hong Kong, HK & Shanghai Banking Corp. 1897-98 5 Dollar graded PMG 55 About Circulated (auction 62B, lot 1247), with an estimate of $160,000 to HK$240,000 (about $20,600 to $30,900 USD)
All estimates are provided by the auction house.
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