Heritage World Coin Auctions
Hong Kong Signature Sale 3540 10-11 Dec 2015
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China People's Republic 10 Yuan 1953 Pick 870s Specimen
This is the trophy of Modern Chinese notes, not counting some frontier issues of the First Series. When this series was introduced, China was going under heavy economic turmoil and reform, and with prices fixed, there was no need for higher denominations. 10 Yuan during the time of issue up to the 1960s represented a staggering amount of purchasing power. Collectors will note that although the Soviet Union created plates for and printed the 3 and 5 Yuan denominations of this series, the production of this example was wholly done in China.
We have previously handled an example of this design, an issued note grading Very Fine 35 which realized just shy of $30,000 in our Ruth Hill offering. This example with features well preserved and stainless paper is expected to bring just as much interest. PMG Choice About Uncirculated 58.
This is the trophy of Modern Chinese notes, not counting some frontier issues of the First Series. When this series was introduced, China was going under heavy economic turmoil and reform, and with prices fixed, there was no need for higher denominations. 10 Yuan during the time of issue up to the 1960s represented a staggering amount of purchasing power. Collectors will note that although the Soviet Union created plates for and printed the 3 and 5 Yuan denominations of this series, the production of this example was wholly done in China.
We have previously handled an example of this design, an issued note grading Very Fine 35 which realized just shy of $30,000 in our Ruth Hill offering. This example with features well preserved and stainless paper is expected to bring just as much interest. PMG Choice About Uncirculated 58.