By Aris Maragoudakis – Director of World Currency Auctions, Stack’s Bowers Galleries ……
PMG’s population report lists this note as the sole graded example, which attests to the extreme rarity of this pick number. When these notes are offered, they are usually stamp cancelled with the lower two corners missing, or are contemporary counterfeits. This note is issued, fully intact and uncancelled, factors that are paramount to this note’s value to collectors.
This is the earliest 10 Dollar note issued by HKSBC (Hong Kong and Shanghai Banking Corporation), with an issued date of April 1, 1893. The majority of pieces known today are dated in 1898. The front text on this note reads: “The Hong Kong & Shanghai Banking Corporation. Promises To Pay The Bearer On Demand At Its Office Here Or The Equivalent In The Currency Of The Island Value Received Ten Dollars By Order Of The Board Of Directors Hong Kong.”
Blue and salmon colored inks are featured on the face of the note, while light red ink is seen on the back. The reverse displays an ornate coat of arms, with the bank name surrounding the design, and with counters at left and right. PMG comments “Restoration”, which has been well executed. PMG also comments “Annotations”. The signatures are bold and still pleasing on this Very Fine note. It is certified by PMG as Very Fine 20 and will be a centerpiece in any collection it enters.
The Stack’s Bowers and Ponterio May 2020 Hong Kong Currency Auction is currently available for viewing, bidding, and bidder registration at StacksBowers.com. The live auction will take place May 4, 2020, beginning at 3 pm Hong Kong Time. For more information on viewing lots or assistance in registering to bid, contact Info@stacksbowers.com.