A highlight of our upcoming August 2014 Hong Kong sale is this Chi Tung Chinese Puppet banknote. It is a tremendous rarity and the first we have offered. The Chi Tung Bank 1937 issue is quite rare with all denominations considered. This 10 Yuan is the second highest denomination as notes of 50 Fen, One, Five, 10 & 100 Yuan were produced. It is of the medium format design with large "10" counter at left and multicolored guilloche at center. The right vignette shows a detailed entry way within a wooded area. There is a square signature seal; block and serial numbers are in red. The back design is lithographed with left and right counters in English and central counter in Chinese. Close inspection reveals a nicely embossed impression of the face design with light paper pull at the upper right. The note is graded by PMG as About Uncirculated 53 Net. Paper Pull.
We could find record of only one sale of this 10 Yuan design, a Very Fine condition note with edge damage and additional overprints. That note brought roughly $24,000 in a September 2012 sale. The only note from this issuer we have handled was an About Uncirculated One Yuan note that realized $7,468 as lot 52177 in our August 2013 Hong Kong sale. PMG has listed this note as a P-J116s1 indicating a specimen, although the note shows no specimen markings at all. This attractive About Uncirculated 10 Yuan note should certainly attract significant interest among collectors as it is likely missing in even the most advanced collections.
To view this note and the other items offered in our August Hong Kong Showcase Auction, visit www.StacksBowers.com. We are currently taking consignments of Asian, world and ancient coins for our newly added December Macau Showcase Auction of Asian coins and currency (the inaugural show). We are also taking consignments for our November Baltimore and New York International auctions. Time is running short, so if you are interested in consigning your coins and paper currency (whether a whole collection or a single rarity) be sure to contact one of our consignment directors.