Black Dragon 1 Yuan Kwangsi Bank Note to be Featured in April Hong Kong Auction

The April 2021 Hong Kong sale contains a nice array of world
paper money, including many treasures that have been off the market for
decades. Lot 40234 presents one such item, a 1 Yuan “Black Dragon” Kwangsi Bank
note. This is an exciting opportunity to acquire a very desirable and coveted
piece of world paper. Among the most significant Chinese pieces in all of
numismatics, this "Black Dragon" note is the sole graded on PMG’s
census and is without question the finest example we have ever seen. It has
been privately held and is making its first major auction appearance since
realizing $125,000 over a decade ago. The design features facing black dragons
around a vignette of a Kwangsi Dollar. The reverse shows a Kwangsi Bank
handstamp at left, and an inscription within the orange border that loosely
translates to "no discount given" and "redeemable for silver at
any branch."

The incredible history of the note can be traced back to
when the Qing Dynasty changed the structure of both Imperial Banks and made
Kwangsi the first province to establish their own bank. From the start, among
the Nan-Ning people the notes from this series were referred to commonly as the
"Ooi-Long" notes. The printing of the note took place in Japan, with
the Japanese printing double the amount of 5 Dollar notes as 1 Dollar notes,
partially explaining why the $1 denomination is so special. The notes from this
series were only in circulation for two years and were promptly redeemed at the
time; few have survived to the present day. Those that have typically disappear
into elite collections and in some cases have never resurfaced. The purchaser
of this special note will be most fortunate to own this treasure that will
likely be talked about for years to come.

The Stack’s Bowers Galleries April 2021 Hong Kong World
Paper Money auction will take place on Monday April 5 at 10:00 AM
HKT. Catalogs are currently being mailed out, and the sale has been posted to
our website for viewing and bidding. To consign your world paper money to future
sales, contact a consignment specialist at 800-458-4646 or visit For more information on viewing lots or for assistance in
registering to bid, email to: [email protected].

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