Watch List notes:

World Currency
Hong Kong Mercantile Bank of India, Ltd. 10 Dollars ND (1912-41) Pick 236cts Color Trial Specimen PMG Uncirculated 62. Waterlow & Sons prepared and printed many stunning banknotes for Hong Kong in the 20th century. This handsome, grandly sized denomination is rare in all formats, with this trial being especially scarce, as it features the first signature for the bank: Fredrick Clark McDonald. Green hues replace the typical orange colors used for the issued banknotes, which confirms trial status. Hole punched cancellations and red overprints are also seen. Toned paper is mentioned for accuracy, on this example, which is over a century old. Rare and desirable, this piece is especially so with a signature from the 1910s. https://currency.ha.com/itm/world-currency/hong-kong-mercantile-bank-of-india-ltd-10-dollars-nd-1912-41-pick-236cts-color-trial-specimen-pmg-uncirculated/a/4034-26399.s?type=DA-DMC-CoinArchivesCurrency-WorldPaperMoney-4034-12112021 HID08706262019 © 2020 Heritage Auctions | All Rights Reserved

Estimate: 20000-30000 USD