Adding excitement to the upcoming Heritage Auctions HKINF World Paper Money Signature Auction, being held December 17-19, 2020 is the featured offering of the Ernest J. Montgomery, M. D. Collection of Chinese banknotes. The core of this collection centers around the first series of banknotes by issued the People’s Bank of China between 1949 and 1953.
Established in December 1948, the People’s Bank of China was created through the merger of the Beihai Bank, the Huabei Bank, and Xibei Farmers Bank 10 months prior to the foundation of the People’s Republic of China in 1949. As a testament to the changing political climate, the notes of the People’s Bank feature common laborers in their design rather than images of mythical heroes or historically important leaders.
Dr. Ernest J. Montgomery’s collection of Chinese banknotes is the result of many years of careful study and patience, through which he impressively acquired over 95 percent of the issued notes from the early People’s Bank of China series, to include four of the six rarities from the challenging 1951 Outer Province Issues, which were limited to circulation in the remote outer provinces of Inner Mongolia and Xinjiang.
In the formation of his collection, Ernest had an objective of obtaining quality examples of each of these notes. The extraordinarily well-preserved examples he acquired are a testament to his success in this endeavor, with a large portion of this collection landing in the top 10 percent of grades registered in the PMG Population Report, and with the majority achieving the Exceptional Paper Quality designation.
Early bidding action for this offering demonstrates how exciting this opportunity truly is, with 98 percent of the collection opening within the first three days since going live. We expect that this comprehensive collection will surpass our expectations across the board.
Highlights from the Ernest J. Mongomery, M. D. Collection of Chinese Banknotes include:
- China People’s Bank of China 1000 Yuan 1951 Pick 857Aa S/M#C282 PMG Uncirculated 62
- China People’s Bank of China 100 Yuan 1949 Pick 835a S/M#C282 PMG Gem Uncirculated 66 EPQ
- China People’s Bank of China 500 Yuan 1949 Pick 843a S/M#C282-55 PMG Superb Gem Unc 67 EPQ
- China People’s Bank of China 20 Yuan 1949 Pick 824a S/M#C282-33 PMG Superb Gem Unc 67 EPQ
Bid on the outstanding World Paper Money in this auction at Currency.HA.com.