Stack’s Bowers and Ponterio has just concluded its December 2024 Hong Kong Collectors Choice Online (CCO) auction consisting of two paper money and three coin sessions. The outstanding results across the board showed green shoots of recovery and growth in the regional numismatic market. Here I focus on the highlights among the paper money sold.
Vintage Hong Kong notes, especially those that are rare and/or in high quality, remain highly coveted and the market is extremely strong. The star note of the auction was a Hong Kong 1937 Mercantile Bank of India $50 graded PMG 35 which sold for $72,000. The lot description was as follows:
Serial number 81419. Offered here is considered one of the holy grails for Hong Kong banknotes; the 1937 Mercantile 50 Dollars.
This design was issued in three years, 1935, 1937 and 1941. The rarest date is 1937 with an original print run of 6000 pieces but of which 4500 (serial numbers 81501-86000) were cancelled and destroyed. Therefore, only 1500 notes from serial numbers 80001 to 81500 were issued and only a few believed extant. This is the second note that the cataloguer has seen over the past ten years.
The design features of classical male bust at left, watermark of the same at right, multicolour sun rays in the underprint, and hand signed by the accountant at lower left and printed signature of Donovan Benson at right. The reverse is brown with light orange and green tints and an ornate Chinese style building is featured at centre with four serial numbers near to each corner of the note.
Benson joined the Mercantile Bank in 1919 and was the manager from February 1937 to July 1952. When Hong Kong fell to the Japanese on Christmas Day 1941 he was not in the city and Harry Hawkins was made manager in his absence. Benson was reinstated as manager in 1945.
This incredible note in original choice very fine condition is the only one graded by PMG to date and may even be the highest grade extant. A phenomenally rare note which will be the crown piece of any discerning collection of vintage Hong Kong banknotes. PMG comments “Ink Stamps.”
Other strong results include notes from the following regions:
Hong Kong
1929 Chartered Bank $100 Specimen. PMG 50: $50,400
c.1911 Chartered bank $5 Pattern Note. PMG 63: $30,000
China
1951 First Series Renminbi 500 Yuan. PMG 12: $52,800
1951 First Series Renminbi 5000 Yuan. PMG 15: $45,600
1907 Deutsch Asiatische Bank $50. PMG 20: $45,600
Straits Settlements
1916 $10. PMG 40: $48,000
These results also clearly demonstrate that our Collectors Choice Online Auctions provide an excellent venue to sell expensive items as well as more moderately priced pieces, even without an elaborate printed catalog. Stack’s Bowers and Ponterio is pleased to be able to offer multiple auction opportunities to meet the needs of all consignors and bidders.
Our next auction in Hong Kong will be held in April 2025. For further questions relating to the sale or consignments please call us on +852 2117 1191 or email [email protected]. The consignment deadline is early January 2025.
