Heritage World Coin Auctions
Hong Kong Signature Sale 3540 10-11 Dec 2015
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Hong Kong Hong Kong and Shanghai Banking Corporation $50 1.1.1934 Pick 175d Duress Note
An absolutely perfect duress note. After the fall of Hong Kong, Japanese officials forced accountants to sign and issue these notes from the HSBC, which were used along with confiscated money to buy war supplies in neutral Macau. After the defeat of Japan, it was not known whether or not the HSBC would honor these notes, as all issued serial numbers were recorded. When the government and the bank decided to offer redemption of these notes, the majority were exchanged quickly as it was not known when the grace period would end, resulting in the rarity of these notes in any condition. We have previously handled Very Fine examples which realized around $2000 each, and this example with full margins and no signs of wear is expected to garner much more interest. PMG Choice Uncirculated 64.
An absolutely perfect duress note. After the fall of Hong Kong, Japanese officials forced accountants to sign and issue these notes from the HSBC, which were used along with confiscated money to buy war supplies in neutral Macau. After the defeat of Japan, it was not known whether or not the HSBC would honor these notes, as all issued serial numbers were recorded. When the government and the bank decided to offer redemption of these notes, the majority were exchanged quickly as it was not known when the grace period would end, resulting in the rarity of these notes in any condition. We have previously handled Very Fine examples which realized around $2000 each, and this example with full margins and no signs of wear is expected to garner much more interest. PMG Choice Uncirculated 64.