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Finest Hupeh 5 Yuan in Heritage HKINF Paper Money Auction

China Hupeh Government Cash Bank 5 Yuan / Kuping Sycee 3 Taels 6 Mace 1904 Pick S2091r - Finest Hupeh 5 Yuan in Heritage HKINF Paper Money Auction
China Hupeh Government Cash Bank 5 Yuan / Kuping Sycee 3 Taels 6 Mace 1904 Pick S2091r

One of the most important criteria for any collectible is rarity. That alone makes a 5 Yuan banknote that will be offered in Heritage Auctions’ June 20 HKINF World Paper Money Signature Auction – Hong Kong event a must-have for any serious collector of Asian currency.

The China Hupeh Government Cash Bank 5 Yuan / Kuping Sycee 3 Taels 6 Mace 1904 Pick S2091r S/M#H171-11 Remainder PMG Choice Uncirculated 63 EPQ offered in this auction is from the initial denomination in this short series from 1904.

“This is the kind of note some collectors spend a lifetime chasing,” says Dustin Johnston, Vice President of Numismatics at Heritage Auctions. “This note is the first and only example in the PMG Population Report. Heritage is the world’s top numismatic auctioneer, and even we have not offered this type in the past. There are no traceable auction results for this Pick number in more than a dozen years.”

A Straits Settlements Government of the Straits Settlements 100 Dollars 1.2.1901 Pick 4C PMG Choice Fine 15 is one of eight Straits Settlements lots in the auction – likely the finest selection ever offered at auction from the group of British territories located in Southeast Asia, on and around the Malay Peninsula, that was established in 1826 and eventually dissolved in 1946. Private banks began issuing paper notes in Penang, Malacca, Dindings, and Singapore in 1840; the Straits Settlements took over issuance around the turn of the 20th century, with the first notes seen dated 1898. All deniminations issued over the next four decades are in demand today, but this incredible and extremely rare $50 from 1901 is almost unknown in issued format, coveted because it is only the second example ever graded by PMG.

Heritage Auctions has never offered this denomination in the past and it is missing from nearly all dedicated collections.

Among the top Chinese notes in the auction is a People’s Bank of China 3 Yuan 1953 Pick 868 S/M#C283-12 PMG Gem Uncirculated 66 EPQ, an uncirculated version of this rare and short-lived note. The uncommon denomination on this note, which is exceedingly difficult to find in such a high grade, is the result of its introduction as a sign of friendship between China and the Soviet Union. The plates were manufactured in the Soviet Union; due to the Sino-Soviet split, the design was not renewed, which only increase its collectability.

Also from China comes a Sinkiang Provincial Bank 6,000,000,000 Yuan = 10,000 Gold Yuan Pick S1797 PMG Choice Uncirculated 64 EPQ – the key note from the Sinkiang Provincial Bank and also the largest known denomination for any Chinese banknote. Few examples of this high denomination from the 1949 Gold Yuan issue exist due to the combination of the purchasing power of this note at the time and the short lifespan of the bank, and even with that limited available, this example stands out, as one of just two registered in Uncirculated condition in the PMG Population Report.

The auction features more than 150 lots of Chinese banknotes, including a China Deutsch-Asiatische Bank, Peking 100 Dollars 1.7.1914 Pick S277r S/M#T101-24 Remainder PMG Gem Uncirculated 66 EPQ (30L). The Deutsch-Asiatische Bank was the first large non-British bank to operate in China. In 1906, it was granted permission to issue banknotes, and within the decade, a variety of denominations were printed and issued via branches in Hankow, Peking, Shanghai, and Tientsin, as well as in Kiau Chau. This large format and extremely rare 100 Dollars remainder is the single-finest example graded in the PMG Population Report, and to date, only remainders have been graded by PMG. A true “East Meets West” banknote, it features text in three languages and design elements of both continents.

From Hong Kong comes a Hongkong & Shanghai Banking Corp. 100 Dollars 1.1.1901 Pick 153s KNB41S Specimen PMG Choice Uncirculated 64. HSBC’s status as the most iconic issuer of Hong Kong banknotes brings a global community of collectors. Turn of the 20th century types, especially higher denominations, are almost prohibitively scarce, and this $100 is no exception. At the time of cataloging, just one issued note and five Specimen had been graded by PMG. This example is almost fully printed; it lacks only serial numbers, and the signature at left is replaced by a handwritten “CANCELLED” in red fountain pen ink. Heritage Auctions has offered this denomination just once before.

Information about all lots in the auction can be found here.

中国, 中國, 香港, 香港拍卖, 香港拍賣

Heritage Auctions
Heritage Auctions
Heritage Auction Galleries is one of the world's largest collectibles auctioneers. Besides offering rare and valuable U.S. and world coins and currency, Heritage offers ancient coins, exonumia, antiques, comic books, sports memorabilia, and many other collectibles. The firm is based in Dallas, Texas.

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