Stack’s Bowers and Ponterio Shatters Record in the April 2024 Hong Kong Auction of World Paper Money

DL World, Peter She, John E. Sandrock, and Tony Ma Collections Lead the Way

The Stack’s Bowers and Ponterio Hong Kong World Paper Money Sale, concluded this past week, shattered the firm’s May 2022 Hong Kong record for highest grossing world banknote sale. Over $3.6 million in banknotes changed hands in a hotly contested sale that was held in the company’s new Hong Kong office and attracted significant collector interest across the board. “Since joining the firm, it has been incredible to watch these sales continue to blossom. Our staff shares a commitment to providing the best customer service and putting forward the best product. Our expertise is truly unmatched,” said Director and Senior Numismatist Kelvin Cheung.

The firm’s Director of World Currency, Aris Maragoudakis, noted, “We are excited to continue raising the bar at this venue. Eclipsing our May 2022 sale, widely regarded as one of the greatest in our history, illustrates the outstanding efforts of our staff and the trust our clients continue to place in our company. The consignors of the DL World, Peter She, Tony Ma, and John E. Sandrock collections recognized the steps we’ve taken to create the ultimate platform in Hong Kong. We are thrilled to deliver on their behalf as our sales continue to exceed expectations.”

The Peter She Collection, offered in its own catalog of just over 500 lots, fetched more than $750,000. Highlights included a Yue Soo Imperial Bank 1 Dollar in lot 30292 that realized $38,400 and lot 30481, a Hong Kong Chartered Bank of India, Australia, and China note that found a new home for $31,200. The well-rounded offering in the Peter She session saw lots from the Empire, Provincial, Foreign, and People’s Republic of China all realize significant prices.

In the main sale, the DL World Collection sent shockwaves through the auction room when a pair of Pei-Yang Color Trials crossed the block. Lot 32545, an incredible purple 1 Tael realized an astounding $72,000, while the 3 Taels in lot 32546  brought $33,600. Collectors competed fiercely for a DL World Collection Commercial Bank of China 10 Dollar Color Trial in lot 32051 that realized $9,6000 and a Russo- Chinese 1 Tael in lot 32468 that garnered $7,800. This was the first appearance at public auction for pieces from this collection, and it is anticipated that collectors will be on the lookout for more.

The Tony Ma Collection provided the most expensive lot in the sale, as a PMG AU 55 EPQ 1953 Big Black 10 in lot 32292 sold for $78,000. Lot 32293, a PMG 53 EPQ realized $63,000. The collection also drew significant interest on other pieces like a 1949 500 Yuan that brought $15,000 in lot 32237 and a Farmer and Bridge 500 Yuan with a radar serial number that sold for $14,400 in lot 32234.

The John E. Sandrock Collection continued to contribute rarities and high quality pieces to Stack’s Bowers and Ponterio’s catalogs as a population-topping 1931 Land Bank of China 1 Yuan in a PMG 67EPQ holder brought $36,000 in lot 32183. A Ch’ing Dynasty 100,000 Cash dazzled collectors as it realized $19,200 in lot 32019. Other highlights from the Sandrock Collection appeared in the Puppet, Foreign, Republic, and Communist sections of the catalog. Additional offerings from this collection will be presented in the firm’s October 2024 Hong Kong (SAR) Sale.

Stack’s Bowers and Ponterio’s April auction also featured spectacular pieces from Hong Kong with lot 32813 selling for $45,800 and lot 32674 reaching $54,000. A French Indochina 100 Piastres specimen proof in lot 31024 crossed the block at $23,900. The Singaporean portion of the catalog performed well as a 10,000 Dollar Specimen in lot 31114 sold for $22,200, and a 1000 Dollar Specimen in lot 31123 nearly doubled the high estimate at $13,200. Some Canadian highlights saw significant action, including a French QEII 1935 20 Dollar Front and Back Proof pair that realized $7,200 in lot 31019.

Featuring over 3,500 lots, this massively successful sale enables Stack’s Bowers and Ponterio to continue building momentum and to capitalize on a thriving market for the firm’s consignors, while providing collectors the opportunity to acquire elusive pieces for their collections. 

Complete prices realized for the Stack’s Bowers and Ponterio April 2024 Hong Kong (SAR) Auction of World Paper Money can be found at For additional questions regarding this sale, or to consign to the firm’s October 2024Hong Kong Auction, please call the firm’s headquarters at 800-458-4646, or email [email protected]. (All prices include the buyer’s premium.)

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