By Christopher Dahncke – Currency Auction Associate, Stack’s Bowers Galleries ……
Cloth 1933 1 Yuan – Szechuan-Shensi Provincial Soviet Workers and Farmers Bank
The Stack’s Bowers Galleries Fall Hong Kong Auction should be an impressive sale. One standout note is lot 40579, a P-S3243b 1933 1 Yuan from the Szechuan-Shensi Provincial Workers & Farmers Bank graded Very Fine 25 Apparent, Mounting Remnants on Face in Corners by PCGS Currency.
Printed on cloth paper. Plate note for Bank Note Museum website. Portrait of Iosif (Joseph) Vissarionovich Stalin at center. Mirrored hammer and sickles below portrait (Chinese Communist Party version). Soldiers spreading the Revolution at left and right of the proletarian symbol. Serial numbers in red at lower corners, with printed signatures above. “1” counters in upper corners. Three-two-three interlocked chain at bottom of design. Chinese Red Army soldiers at center on reverse with a red star between the pair, and a date of “1933” below. Serial numbers at upper corners, and a red stamp at lower left end. Russian “ОДИН” (one) at left and right of central design.
Track & Price reports no auction results for this incredibly rare cloth type Chinese banknote. We cannot recall handling this variety during our history, and we suspect that this piece is missing from even the most advanced collections of Communist Bank Notes.
Cloth notes are scarce from any Communist Bank issuer, especially when one considers the many forgeries or questionable material. This is among the more desirable cloth notes available to collectors, not just because of the rarity (PMG has yet to grade this type, and PCGS Currency’s old Pop Report is not readily available), but also for the neat blend of Russian and Chinese Communist motifs. Russia, during this period, supported communist movements worldwide, as Lenin had dreamed the Russian Revolution would spark a global communist revolution. China received support from the Soviet Union during this period, to help the CCP win their fight against the nationalist KMT for total control of China. Thus, Stalin is depicted on the note when his likeness was never put onto Russian currency.
An incredibly scarce Chinese banknote, and worthy of a premium bid.
Bank of Hindustan, China & Japan Limited 50 Taels
Another standout Chinese banknote from the sale is lot 40469, a 50 Tales Remainder from the Bank of Hindustan, China & Japan Limited in a PMG Very Fine 20 grade.
Printed by B&C. Shanghai. Remainder. No. 903. Without signatures and date. Notes for this bank were printed in 1863 and are incredibly difficult to obtain today. All denominations are rare from this issuer and are typically only found in remainder form. This will be the first time we have ever offered a note from this bank, and it is sure to be hotly contested once the bidding begins.
The Bank of Hindustan, China & Japan Limited was in operation from 1863 to 1866. The bank failed, like many others, during the international Panic of 1866. This short operating period leaves collectors with few surviving examples, and we are confident that even the most advanced collections of Chinese paper money are missing notes from this issuer.
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We are currently taking consignments for future World Paper Money Auctions. To consign your U.S. paper money and world paper money to a future sale, contact a consignment specialist at 800-458-4646 or visit StacksBowers.com. For more information on viewing lots or for assistance in registering to bid, email your inquiry to [email protected].