Heritage World Coin Auctions
Hong Kong Signature Sale 3540 10-11 Dec 2015
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China Bank of China $1 1909 (1912) Pick 16a
An absolute rarity in its condition, with all of its underprint continuing to shine, contrasting with its almost stainless paper. These notes issued under the authority of the Bank of China, established after the founding of the Republic of China after the collapse of the Qing Empire, were hastily prepared. The previous bank (whose name has been overprinted) was the Ta-Ching Government Bank, which was in itself hurriedly established to manage China's finances after increasing foreign influences. Marquis Li Hongzhang is featured on this series, and Chinese currency collectors will note his portrait was removed in the next series of Bank of China notes because of certain controversies that arose between his actions and the new Republican Government.
A note of this Pick number, but in a much lower condition, sold at Hosane in China four years ago for about $29,000. With this better PMG Very Fine 30 Net example with rust, this coveted design may easily surpass our initial estimate.
An absolute rarity in its condition, with all of its underprint continuing to shine, contrasting with its almost stainless paper. These notes issued under the authority of the Bank of China, established after the founding of the Republic of China after the collapse of the Qing Empire, were hastily prepared. The previous bank (whose name has been overprinted) was the Ta-Ching Government Bank, which was in itself hurriedly established to manage China's finances after increasing foreign influences. Marquis Li Hongzhang is featured on this series, and Chinese currency collectors will note his portrait was removed in the next series of Bank of China notes because of certain controversies that arose between his actions and the new Republican Government.
A note of this Pick number, but in a much lower condition, sold at Hosane in China four years ago for about $29,000. With this better PMG Very Fine 30 Net example with rust, this coveted design may easily surpass our initial estimate.