Heritage’s latest world paper money auction tops $1 million in prices realized

It was dominated by offerings from Asia
By , Special to Coin World
Published : 12/19/16
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Heritage Auctions’ Dec. 7 to 9 world paper currency sale resulted in a total of $1,292,350 (including buyer’s fees) in sales for 1,092 lots. As expected, it was dominated by offerings from Asia. A sampling of the prices indicates the strength of the Asian currency market. Eight individual lots surpassed $20,000 each.

Two of the few surviving Chinese People’s Republic 10-yuan notes of 1953, both graded by PCGS Currency as Choice About New 58 Premium Paper Quality, sold for $35,850 and $40,630.

A Government of Straits Settlements $50 note bearing a 24.9.1925 date went for $26,920 in PCGS Currency Very Fine 35 PPQ.

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It was followed, at $25,095, by a Deutsch-Asiatische Bank of Shanghai $200 remainder note of July 1, 1914, in a grade by Paper Money Guaranty of Choice Uncirculated 64. This was one of the foremost foreign banks in China during that era, and this is the highest denomination it ever issued.

A solid serial number 888888 note would be especially important in China, so it is no surprise that the Hong Kong and Shanghai Banking Corporation $500 note of Feb. 11, 1968, was knocked down at $23,900 in PMG Choice Uncirculated 64 Exceptional Paper Quality.

The highest denomination from the first Bhutan paper money issue, a 500-ngultrum note from 1978 in PMG Gem Uncirculated 65 EPQ, with staple holes, sold for $21,510, an amazing three times what Heritage sold a comparable note for in 2014.

Finally, a Russo-Asiatic Bank Harbin $500 note of 1910 overprinted on a 500-tael note for the Tientsin Russo-Chinese Bank realized $20,912.50 in PMG AU-50.

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