Paper Money

Board of Revenue bank note leads bidding in April 4

A Year 4 (1854) 50-tael bank note issued in China by the Board of Revenue during the Empire of China period realized $38,837.50 in Stack’s Bowers and Ponterio’s April 4 auction in Hong Kong.

Images courtesy of Stack's Bowers and Ponterio.

A rare Year 4 (1854) 50-tael bank note issued in China by the Board of Revenue during the Empire of China period led bidding during Stack’s Bowers and Ponterio’s April 4 paper money auction in Hong Kong.

The note, one of the two examples of the rarity that the firm has ever sold, is graded by Paper Money Guaranty as Choice Fine 15. It realized $38,837.50, including a 19.5 percent buyer’s fee, and was the top lot in the April 4 auction.

Of 737 lots of paper money offered, 671 lots (or 91 percent) were sold in the auction, which was one of three sales the firm held under the Hong Kong Auction umbrella from April 1 to 4. The paper money portion, including the Neil Nelson Collection, realized an estimated $900,000, reflecting the 19.5 percent buyer’s fee.

For more information, write to Stack’s Bowers and Ponterio at 1063 McGaw Ave., Suite 100, Irvine, CA 92614, telephone the firm at 800-458-4646, email the business at or visit its website at

Some additional highlights:

Empire of China, Ming Dynasty, circa 1368 to 1369 1-kuan note, Pick AA10 (Standard Catalog of World Paper Money by Albert Pick, edited by George Cuhaj), Paper Money Guaranty Very Fine 20, $19,120.

China, 1953, People’s Bank of China 3-yuan note, Pick 868, PMG Superb Gem Uncirculated 67 Exceptional Paper Quality, $17,925.

China, 1953 People’s Bank of China 10-yuan note, “Farm Couple” design, Serial No. XV9863308, Pick 870, PMG VF-25,$14,340.

China, Hupeh Government Mint, Year 7 (1899) 7 mace and 2 candareens note, Pick S2135, PMG Choice VF-35 Net Repaired, $35,850.

China, Guandong and Fujian Province, 4609 (1912) $5 note, unlisted in Pick, “military note which comes from the same year the Republic of China was formed,” “the first we have seen,” Very Good, $29,875. ¦

Community Comments