Heritage World Coin Auctions
Long Beach Signature Currency Sale 3549 8 & 12 Sep 2016
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China Empire Ming Dynasty 1 Kuan 1368-99 Pick AA10 S/M T36-20 This was not the first banknote to be issued, but definitely close enough. In fact, the starting date for the Standard Catalog, 1368, refers to this note. These mulberry-charcoal based notes were issued during the reign of the Hongwu Emperor, the first emperor of the Great Ming, and were based on notes issued by the Great Yuan and used to replenish government coffers after the overthrow of the Yuan. The stipulations in the bottom half of the note authorizes that the note is as good as copper coin, and provides a warning of execution for the counterfeiter as well as the reward of 250 taels of silver along with counterfeiter's assets to the accuser. The SCWPM reference does not list any values for Ming notes past Extremely Fine. For a note to be in About Uncirculated condition six centuries after its issue is almost inconceivable. There are no issues mentioned on the holder and this note ranks as one of the very finest surviving examples known today. In 2015 we sold a PMG 50 Net for $17,625 and we see no reason why this note should not easily surpass that realization. PCGS About New 50.
Estimate: 17500-22500 USD
China Empire Ming Dynasty 1 Kuan 1368-99 Pick AA10 S/M T36-20 This was not the first banknote to be issued, but definitely close enough. In fact, the starting date for the Standard Catalog, 1368, refers to this note. These mulberry-charcoal based notes were issued during the reign of the Hongwu Emperor, the first emperor of the Great Ming, and were based on notes issued by the Great Yuan and used to replenish government coffers after the overthrow of the Yuan. The stipulations in the bottom half of the note authorizes that the note is as good as copper coin, and provides a warning of execution for the counterfeiter as well as the reward of 250 taels of silver along with counterfeiter's assets to the accuser. The SCWPM reference does not list any values for Ming notes past Extremely Fine. For a note to be in About Uncirculated condition six centuries after its issue is almost inconceivable. There are no issues mentioned on the holder and this note ranks as one of the very finest surviving examples known today. In 2015 we sold a PMG 50 Net for $17,625 and we see no reason why this note should not easily surpass that realization. PCGS About New 50.
Estimate: 17500-22500 USD