April Hong Kong World Paper Money Highlights

​The April 2021 Hong Kong sale contains a nice assortment of World Paper Money. Auction highlights include the following notes:

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Lot 40023 China Empire Ta-Ching Government Bank P-A76s 1 Dollar Specimen, PMG Gem Uncirculated 66 EPQ. PMG has graded just two notes at this level, with none finer. This note is extremely difficult to acquire, and this example is sure to please.


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Lot 40148 China People’s Republic P-870 1953 10 Yuan in PMG Extremely Fine 40. This note is one of the highlights of our People’s Republic section. The note is quite appealing as the format is significantly larger than others from the 1953 series. Gray-black inks make up the basic design and a "Farm Couple" vignette is found at center.


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Lot 40178 China Puppet Banks Chi Tung Bank P-J115s1 5 Yuan Specimen, which is in a PMG Uncirculated 60 grade. PMG’s pop report lists this note as the sole graded by their service for the variety at the time of cataloging. A stuck digit serial number is noticed on this 5 Yuan Specimen on the reverse at top left corner. Scarce. A good opportunity to acquire a note which is likely missing from the most advanced collections. PMG comments "Previously Mounted.”


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Lot 40194 China Foreign Banks Deutsch-Asiatische Bank 1907 P-293s 1 Dollar in PMG Extremely Fine 40. An extremely rare 1 Dollar specimen, which displays DRUCKPROBE perforation at top and bottom center, with Germania at right.


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Lot 40195 China Foreign Banks Deutsch-Asiatische Bank 1907 P-294s 5 Dollars in a PMG Choice Very Fine 35 grade. At the time of cataloging this note is the only graded specimen on the PMG census. PMG mentions staple holes, and previously mounted, most visible by the small tape found at front and some remnants on the reverse. A rare type that is missing from most collections.


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Lot 40196 China Foreign Banks Deutsch-Asiatische Bank 1907 P-295s 25 Dollars in a PMG Choice Very Fine 35 grade. An elusive high denomination Specimen, and the sole graded specimen on PMG’s population report for the Pick number. Typical tape seen on the front with PMG noting Previously Mounted and Staple Holes.


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Lot 40197 China Foreign Banks Deutsch-Asiatische Bank 1907 P-296s 50 Dollars in a PMG Choice Very Fine 35 grade. The last of these Tientsin place name Specimens we are offering, and a high denomination example. It is the sole graded specimen on PMG’s population report for the Pick number. Typical tape seen on the front with PMG noting Previously Mounted and Staple Holes.


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Lot 40206 China Foreign Banks Banque Industrielle de Chine Swatow P-S397Fa 1915 10 Mexican Dollars in PMG Choice Very Fine 35. An extremely rare Swatow Mexican Dollars overprint note on P-S397. No Swatow branch or Mexican Dollar revaluations from Banque Industrielle were known to Smith/Matravers, when published 60 years after the issue date of this note. Contrary to the inaccurate notation in SCWPM at Pick S-397F, number C254-3d does not exist in S/M. There are only C254 a,b,c numbers in S/M, which refer only to the regular issues of $10 for Peking, Tientsin, and Shanghai, not to either Swatow or Mexican Dollar overprints. A rare note in issued form, the first we have handled in quite some time and the finest of any we offered. Only one finer example appears in the PMG population report, which has just six issued examples. A high VF, with strong paper quality and all-over sharp color and detail. PMG mentions a "minor foreign substance," which is negligible. One in similar grade fetched $11,400 in our January 2018 sale, but that example showed small stains and more toning and handling than this one.


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Lot 40234 China Provincial Banks Kwangsi Bank P-S2345 1909 1 Yuan in PMG Choice Fine 15. This is an exciting opportunity to acquire one of the most desirable and coveted pieces 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 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."


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Lot 40488 Portuguese India Banco Nacional Ultramarino 1938 P-34 50 Rupias in PMG Very Fine 25. This extremely rare and coveted type is virtually impossible to find and is currently one of only two examples in issued form certified by PMG. We offered an extremely circulated and nearly destroyed example that brought over $7,500 about four years ago. We therefore imagine this extremely pleasing example will fetch a new record. This treasure is without question one of the most sought-after designs in the hobby with a giant elephant pictured at center. Some minor wear that is typical for the type, but otherwise bold impressions and deep blue ink throughout.


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In lots 40462, 40463, 40464 and 40465, we are offering Panama P-22a 1 Balboa, P-23a 5 Balboas, P-24a 10 Balboas and P-25a 20 Balboas. The P-24a 10 Balboas note is graded by PMG Choice Uncirculated 64 EPQ, and the P-25a 20 Balboas is PMG Choice Extremely Fine 45. Rarely are these notes offered in these grade levels, especially in the same auction. A good opportunity for collectors to acquire one or all of the notes from this scarce series of Panama notes.

The Stack’s Bowers Galleries April 2021 Hong Kong World Paper Money auction will take place on Monday April 5th  at 10:00 AM HKT. To consign your world paper money to a future sale, contact a consignment specialist at 800-458-4646 or visit For more information on viewing lots or for assistance registering to bid, contact 800-458-4646 or email to [email protected].

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