Heritage World Coin Auctions
Hong Kong Signature Currency Sale 4007 5-6 Dec 2018
View prices realized
► Sale information
Find similar lots
World Currency
Hong Kong National Bank of China Limited 5 Dollars 2.5.1894 KNB1a Pick 247a. An exceedingly rare example from this small bank. Though the majority of banks operating during the late Empire era were either foreign or local Chinese, this example issued by the crown colony of Hong Kong is certainly a rare exception. This well capitalized private bank with "Hong Kong" in its Chinese name was formed by ethnic Chinese businessmen who had an interest in the newly opened Qing market. In order to compete with the foreign banks operating at the time, the National Bank of China Limited solicited the help of Waterlow and Sons, who designed and printed these notes. Unfortunately, this first Hong Kong bank had its history cut short. Just a few years after its founding in 1891, the March 1895 Note Issuing Bank Act removed its powers to issue banknotes, transferring it to larger players including the Hongkong and Shanghai Banking Corporation and the Chartered Bank. Thus, only one issue, this 1894 dated issue, was issued, with the remainder largely redeemed. With less than a handful of notes known to the collecting community, this is a potentially once-in-a-lifetime example to acquire a piece of history of the utmost rarity. The Hong Kong Museum of History has an example of this banknote in its collection, which signifies the historic importance of this rare issue. Additionally, we could only find two other examples from this bank issuer that have been certified by the grading companies. The PMG Census shows a fully printed date example graded Fine 15 Net with rust damage and PCGS graded a partial date example as Apparent Fine 15 with ink stains and minor damage. The PCGS example crossed the auction block in September 2015 with a price realization of $60,904. With notes from this bank making only ephemeral appearances on the world stage and holding the finest grade, this eye appealing rarity should well surpass our conservative estimate. PMG Very Fine 30 with mention of minor restorations and annotations. HID08701242017
Estimate: 50000-70000 USD
Hong Kong National Bank of China Limited 5 Dollars 2.5.1894 KNB1a Pick 247a. An exceedingly rare example from this small bank. Though the majority of banks operating during the late Empire era were either foreign or local Chinese, this example issued by the crown colony of Hong Kong is certainly a rare exception. This well capitalized private bank with "Hong Kong" in its Chinese name was formed by ethnic Chinese businessmen who had an interest in the newly opened Qing market. In order to compete with the foreign banks operating at the time, the National Bank of China Limited solicited the help of Waterlow and Sons, who designed and printed these notes. Unfortunately, this first Hong Kong bank had its history cut short. Just a few years after its founding in 1891, the March 1895 Note Issuing Bank Act removed its powers to issue banknotes, transferring it to larger players including the Hongkong and Shanghai Banking Corporation and the Chartered Bank. Thus, only one issue, this 1894 dated issue, was issued, with the remainder largely redeemed. With less than a handful of notes known to the collecting community, this is a potentially once-in-a-lifetime example to acquire a piece of history of the utmost rarity. The Hong Kong Museum of History has an example of this banknote in its collection, which signifies the historic importance of this rare issue. Additionally, we could only find two other examples from this bank issuer that have been certified by the grading companies. The PMG Census shows a fully printed date example graded Fine 15 Net with rust damage and PCGS graded a partial date example as Apparent Fine 15 with ink stains and minor damage. The PCGS example crossed the auction block in September 2015 with a price realization of $60,904. With notes from this bank making only ephemeral appearances on the world stage and holding the finest grade, this eye appealing rarity should well surpass our conservative estimate. PMG Very Fine 30 with mention of minor restorations and annotations. HID08701242017
Estimate: 50000-70000 USD