The August 2012 Hong Kong Auction

Auction # 141 | View Auction Schedule and Details

Pre-Bidding Ends: 8/21/2012 8:30:00 PM PST
Live Floor and Internet Bidding Begins: 8/21/2012 9:30:00 PM PST

Lot #53001. CHINA--EMPIRE. Ming Dynasty. 1 Kuan, 1368-99. P-AA10.

About Uncirculated Ming Dynasty One Kuan P-AA10

Description:

This representation of the "earliest collectible banknote," is one which trumps all others we have handled in the past. The note is nearly Uncirculated and offers some of the best paper body and original vermillion stamping we have seen with the issue. A bold impression of the shockingly large format gives great detail to the design features and cash strings depicting the denomination at center. The banknote is fully free from repairs and defects other than a single tear mentioned by PMG in the comments section of the holder. A deeply inked back impression situated at lower center is enjoyed with dark inks and strong detail. The paper body is quite thick with minimal light visible when back lit and with all we have handled in the past, we are sure it will be many years before we see another of equal or better quality.

The issue has received tremendous attention as of late with the strong increase in demand for Chinese paper money. It is truly of a special breed being an item which always creates conversation when viewed by those unaware of the notes existence. Most known today were originally discovered during the Boxer Rising in the early 20th century. A later trove then came to light during demolition of a Temple around the outskirts of Beijing in the 1930's. The historical bank notes were found within a time capsule in the temple and represent a large population in higher quality. Dates noticed for this P-AA10 type range between 1368 and 1399 and with the large quantity available they have quickly been well regarded by collectors and dealers with their incredible age and large format.

Of the several we have handled in past auctions, the next closest in terms of quality and appeal was lot 80009 in our August 2011 Hong Kong sale. That note certified at a PMG Extremely Fine 40 level and realized $22,705.00. We feel this item handily trumps that note in appeal and overall quality. It seems that even with the market remaining strong for Chinese bank notes, Ming Notes are starting to be more scrutinized. Collectors are now realizing the vast amount available, but also the scarcity of nicer material, a fact which further highlights the importance of this About Uncirculated note.

洪武年大明通行寶鈔壹貫。

PMG About Uncirculated 55 Net. Tear.

Estimate:

$5,000 - $7,000