Chinese 500-yuan note issued in 1941 by the Bank of Communications sells in Hong Kong auction for $1,070

AIA conducts the auction in association with Dynasty Auctions Co. Ltd.
By , Coin World
Published : 04/18/14
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An April 12, 2014, auction of bank notes, coins and scripophily from China and other Asian nations, by Archives International Auctions, realized $204,774 in U.S. funds in Hong Kong.

AIA conducted the auction in association with Dynasty Auctions Co. Ltd., according to Robert Schwartz of AIA.

Among the more than 400 lots offered was a Chinese 500-yuan note (Lot 1683) issued in 1941 by the Bank of Communications. It sold for $1,070 U.S. ($8,260 in Hong Kong funds). The note shows a harbor scene on the face, while several large power transformers appear on the back, along with a train pulling cars along a railroad track passing under the power lines.

The note, printed by the American Bank Note Co., is graded choice Very Fine to Extremely Fine “with a very light vertical middle fold and light handling on the top margin,” according to the catalog description. The note was estimated to bring $3,900 to $7,800 in Hong Kong funds.

For more information about the auction, write to Archives International Auctions LLC, 1580 Lemoine Ave., Suite No. 7, Fort Lee, NJ 07024. The firm can also be reached by telephone 201-944-4800 or by email to info@archivesinternational.com

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