Hong Kong Banknote Certified by PMG Realizes Six Figures in Spink Sale

A rare Hong Kong banknote certified by Paper Money Guaranty® (PMG®) realized six figures in a recent Spink auction. The Spink sessions included the Chinese Banknotes and Coins auction on January 20 and the World, Macau and Hong Kong Coins and Banknotes auction on January 21, 2024.

The top lot was a Hong Kong, Hong Kong and Shanghai Banking Corporation 1921-23 100 Dollars graded PMG 30 Very Fine (lot 1294), which realized HKD 912,000 (about $117,000). The PMG Population Report records only three genuine issued examples of this catalog number, Pick# 169b, in addition to one from Pick# 169a, which shares the same design but has an earlier date. The example in this auction is the highest graded of these four highly coveted “tea house” notes.

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Other PMG-certified notes in the World, Macau and Hong Kong Coins and Banknotes auction included:

• a Hong Kong, Hong Kong and Shanghai Banking Corporation 1930 500 Dollars graded PMG 35 Choice Very Fine (lot 1306), which realized HKD 168,000 (about $21,000)
• a Hong Kong, Mercantile Bank of India, Ltd. 1941 50 Dollars graded PMG 25 Very Fine (lot 1188), which realized HKD 156,000 (about $20,000)
• a Hong Kong, Hong Kong and Shanghai Banking Corporation 1930 500 Dollars graded PMG 30 Very Fine (lot 1307), which realized HKD 102,000 (about $13,000)
• a Hong Kong, Hong Kong and Shanghai Banking Corporation 1930 500 Dollars graded PMG 25 Very Fine (lot 1308), which realized HKD 90,000 (about $12,000)
• a Hong Kong, Chartered Bank of India, Australia and China 1931-34 50 Dollars graded PMG 15 Choice Fine (lot 1214), which realized HKD 90,000 (about $12,000)

PMG-certified notes in the Chinese Banknotes and Coins auction included:

• a China / People’s Republic 1953 10 Yuan graded PMG 30 Very Fine (lot 212), which realized HKD 132,000 (about $17,000)
• a China, Federal Reserve Bank of China 1938 5 Dollars graded PMG 55 About Uncirculated EPQ (lot 166), which realized HKD 120,000 (about $15,000)
• a China, Land Bank of China, Ltd. 1931 1 Yuan graded PMG 64 Choice Uncirculated (lot 69), which realized HKD 84,000 (about $11,000)
• a China, Central Bank of China 1949 5,000,000 Yuan graded PMG 65 Gem Uncirculated EPQ (lot 65), which realized HKD 84,000 (about $11,000)
• a China, Bank of Central China 1945 10 Yuan graded PMG 58 Choice About Uncirculated (lot 143), which realized HKD 78,000 (about $10,000)

Prices realized include a buyer’s premium. The $ symbol indicates US Dollars.