Far Eastern notes dominate paper money auction
- Published: Oct 17, 2016, 6 AM

As expected, Far Eastern bank notes showed enormous strength at Dix Noonan Webb’s auction Oct. 3 in London. Asian issues led the way in the £397,122 or $493,920 (including buyer’s commission) auction.
An extremely rare Bank of Taiwan “Fifty Yen in Silver” note dated 1901 and estimated at £10,000 to £15,000 went to a Chinese bidder for £48,000 ($59,700). Bidding began at £16,000, after which a battle ensued between participants on the telephone and the internet. Finally, the low estimate was eclipsed by a factor of almost five.
Connect with Coin World:
Sign up for our free eNewsletter
Like us on Facebook
Follow us on Twitter
Far Eastern bidders also forced the pace on bidding for notes from Malaya and British North Borneo, Hong Kong and Singapore. A $10 note dated March 21, 1953, issued by the Board of Commissioners of Currency in Malaya and British North Borneo, slayed its £1,000 to £1,500 estimate when it sold for £6,000 ($7,462). Its companion $50 note with the same date and estimate brought £5,520 ($6,865), and a 1901 $5 of the Hong Kong & Shanghai Banking Corporation, expected to reach only £600 to £800, fetched £5,760 ($7,164). A Singapore $10 note issued in 1970 and 1971, also with a £600 to £800 expectation, settled at £4,320 ($5,373).
The first appearance on the market in recent years of a comprehensive Iranian collection drew multiple bidders. Called “the property of a gentleman,” it totaled £48,444 or $60,250. The highest individual price was £4,800 ($5,970) for a 1924 20-toman note issued by the Imperial Bank of Persia, estimated at £1,500 to £2,000.
DNW’s Chris Webb saw two noticeable general trends — the popularity of notes from around the Commonwealth bearing the head of Queen Elizabeth II, and that American collectors are bidding in a number of sectors of the market, such as the British Caribbean, and not only buying U.S. paper money.
MORE RELATED ARTICLES
Community Comments
Headlines
-
US Coins Nov 30, 2023, 1 PM
Mint strikes first Tubman dollars in Philadelphia ceremony
-
World Coins Nov 29, 2023, 4 PM
French ‘Red Book’ anniversary edition now available in U.S.
-
World Coins Nov 29, 2023, 2 PM
Royal Mint unveils James Bond bullion and collector coins
-
US Coins Nov 29, 2023, 2 PM
Market Analysis: Top-quality 1820 gold $5 coin