December 2025 Hong Kong (SAR) Collectors Choice Online Auction Sees Strong Results for World Paper Money

Our recently concluded December 2025 Hong Kong (SAR) CCO saw strong results across the board, including in the two paper money sessions. Bidding was active on many of the 1,076 lots, and in this blog, we will look at some notable results. All prices include the 20% buyer’s premium.

Chinese paper money in the auction saw strong results for classic issues, including notes from Kwangtung, led by a 1907 5 Mexican Dollars graded PMG Choice Fine 15, which brought $36,000. The note is one of the great rarities of the Qing era and is believed to be one of just three known. Another highlight from China came from the Bank of Communications, and is one of its most desirable types – the 1912 10 Dollars from Tientsin, graded About Uncirculated 55 by PMG. The note was a fully issued example that was subsequently turned into a specimen (a so-called ‘expedient specimen’), yet it still brought a strong $26,400.

The Hong Kong (SAR) section was highlighted by a rare $500 from 1959, issued by the Chartered Bank, graded About Uncirculated 55 EPQ by PMG. The note brought $20,400, indicating continuing strong demand for key varieties from this smaller Hong Kong banking institution. Strong bidding activity was also observed for other items from Hong Kong, including a missing print error on a 1975 500 Dollars from HSBC, graded Choice Very Fine 35 EPQ by PMG. The note missed the second printing phase of the front, including the denomination and the bank clause, making it instantly recognizable. After a fierce bidding battle, it sold for $15,600.

Two notes from elsewhere in Asia are also worth mentioning. The first, covered in a previous blog post, was an extremely rare 1937 10 Pesos from the Philippines identified by its serial number as an official issue, one of just 4,000 issued as such (most seen today are notes illegally issued by the Japanese during World War II). To the best of our knowledge, the final sale price, $6,600, is a new auction record for this type. The second notable item is from India, a ND (1970) 10 Rupees Specimen graded Choice Uncirculated 64 EPQ by PMG. While issued examples of this note are often considered inconsequential, as a specimen, its desirability is elevated considerably, as reflected by the strong price realized of $6,600.

The next Hong Kong (SAR) Auction takes place in April 2026, and we are hard at work collecting consignments for the sale, which is held in conjunction with the 14^th Hong Kong Coin Show. While April might seem far away, the deadline is rapidly approaching, and we urge you to act now if you would like your individual notes or entire collection featured in this premier auction. For personal assistance and to get the consignment process started, contact Kelvin Cheung at our Hong Kong office at [email protected] or call our US headquarters at 800-458-4646.