The New York Sale
Auction 35 7 January 2015
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BANKNOTES, CHINA Empire. Russo-Asiatic Bank. Harbin. 50-Dollars, undated (1910) (Pick S465; S/M O5). In PMG holder graded Choice UNC-64 Net, Foreign Substance, paper quality is choice with no hint of any circulation but net graded was because the "foreign substance" found on both sides, which would have been there when the note as issued and should not considered as a defect. A classic rarity of Chinese currency and one of the most splendid pieces available to collectors in today's market.
The Russo-Asiatic Bank was originally founded in St Petersburg with its financial background being Russia and France. Like all other foreign banks, the Russo-Asiatic Bank entered China to represent the Russian interest since 1896, and got expanded the same year by financing the construction of China Eastern Railway, and earned financial support from China. Due to the political function of this bank, its existence was not considered necessary after WWI and the collapse of Imperial Russia, and in 1926 the bank was finally closed down after suffering a major financial loss of £5,000,000
Estimate: $ 13,000.
The Russo-Asiatic Bank was originally founded in St Petersburg with its financial background being Russia and France. Like all other foreign banks, the Russo-Asiatic Bank entered China to represent the Russian interest since 1896, and got expanded the same year by financing the construction of China Eastern Railway, and earned financial support from China. Due to the political function of this bank, its existence was not considered necessary after WWI and the collapse of Imperial Russia, and in 1926 the bank was finally closed down after suffering a major financial loss of £5,000,000
Estimate: $ 13,000.