Worldly Treasures

AS THE LARGEST NUMISMATIC AUCTIONEER OF INTERNATIONAL BANKNOTES, HERITAGE AUCTIONS HAS NOTCHED SOME IMPRESSIVE SALES

By Dustin Johnston

EVENT

WORLD PAPER MONEY SIGNATURE^® AUCTION 4025
Sept. 18, 2020
Live: Dallas
Online: HA.com/4025a
INQUIRIES
Dustin Johnston
214.409.1302
Dustin@HA.com

**China People's Republic 10,000 Yuan 1951**
Pick 858Aa, PCGS Very Fine 20
The largest denomination of the first issue of currency issued under the People’s Republic of China, this note had the equivalent of nearly $50,000 in purchasing power. It was part of Heritage’s offering of the Ruth W. Hill collection of currency. She has been regarded as the matriarch of modern world paper money collecting, advancing the hobby through the International Bank Note Society.
**$199,750**
**Sold: April 2014**

**Hong Kong National Bank of China Limited 5 Dollars 1894**
KNB1a Pick 247a PMG Very Fine 30
The National Bank of China Ltd. was a small bank that issued currency under Chinese rule, just prior to the British lease of the colony. It was established in 1891, but banking laws prevented it from issuing anything after 1895, ceding that privilege to the Chartered Bank and the Hong Kong & Shanghai Banking Corporation (HSBC), the latter of which is still in operation today. The short issuing period and subsequent redemption of notes created this incredible rarity.
**$138,000**
**Sold: December 2018**

**China People’s Bank of China 10 Yuan 1965**
Pick 879pp Progressive Proof, PMG Choice Unc 63
Printer’s proofs are an important part of the numismatic historical record. The process of designing banknotes is intensive with many concepts proposed and abandoned. Some of the most impressive, as seen in this example, are abandoned for being too complicated for mass production.
**$120,000**
**Sold: June 2019**

**Zanzibar Government 20 Rupees 1908**
Pick 4cts Color Trial Specimen, PMG Gem Unc 65 EPQ
Zanzibar was an important hub for international trade. Traders from the Middle East, India and Africa traded and transported goods through this port, which is part of modern-day Tanzania. The multiple languages used on the notes illustrate its importance at the crossroads of trade in the Indian Ocean. Few notes have survived from Zanzibar as an issuing authority and thus are commonly considered the ultimate addition to serious world paper money collections.
**$108,000**
**Sold: August 2018**

**China Central Bank of China 1 Yuan 1936**
Pick 209, PMG Gem Unc 65 EPQ
Notes from the Central Bank of China are widely collected, with most varieties easily accessible to collectors. This color variant is a 20th century rarity, in top grade. The owner originally purchased this note for less than $100, before a Heritage specialist identified it for rarity and encouraged them to offer it in Heritage’s 2018 Hong Kong Signature® auction.
**$84,000**
**Sold: June 2018**

**Palestine Currency Board 50 Pounds 1929**
Pick 10b PMG Very Fine 30
The Palestine Currency Board was an issuing authority under the British Mandate of Palestine. Its capital, Jerusalem, is one of the most important locations in the history of three major world religions. Its religious and historical importance leads to its banknotes being widely collected. Among these, 50 Pound notes are among the rarest surviving examples. **$78,000**
**Sold: September 2019**

**Japan 1927 Emergency Issue 50 Yen 1927**
P-37A Specimen PMG Very Choice Unc 64 EPQ
The Great Kanto Earthquake in 1923 was the catalyst for the creation of this Japanese rarity. Economic ruin followed the destruction caused by the earthquake, with a massive run on banks during the Panic of 1927. This note was part of an emergency issue that was released over two days. Nearly the entire issue was subsequently redeemed, leaving these printer’s specimens as some of the only pieces available to collectors.
**$74,750**
**Sold: September 2011**

**Canada DC-19 $500 1911**
PMG Very Fine 20
The 2008 offering of this note remains the highest price ever paid for a Canadian Banknote at auction. The consignor found it in a book that was earmarked for the trash. Luckily, this numismatic rarity – one of only three known – was saved for collectors.
**$322,000**
**Sold: September 2008**

**East Africa East African Currency Board, Mombasa 1,000 Shillings or 50 Pounds 1921**
Pick 18 PMG About Unc 53
East Africa was a British protectorate that included nearly a quarter of Africa’s landmass. It ultimately became Somalia, Kenya, Uganda and Tanzania. Currency issued under the East African Currency Board was highly regarded in world trade. The 1,000 Shillings denomination was a staggering sum at the time, used mostly in bank-to-bank transactions, with few survivors known today.
**$72,000**
**Sold: September 2019**

**Russia Russian-American Company 50 Kopeks ND (1816-1867)**
Pick UNL Kardakoff 53.1 PMG Choice Uncirculated 64 EPQ
The Russian-American Company operated from Russia, through Alaska, into Canada and California, with an outpost in Hawaii. To facilitate trade so far from their Russian headquarters, currency was printed on an unusual medium – animal skins. This piece is one of the finest surviving examples, printed on walrus skin, for circulation in America.
**$66,000**
**Sold: January 2020**

DUSTIN JOHNSTON is vice president of currency auctions at Heritage Auctions.

This article appears in the Fall 2020 edition of The Intelligent Collector magazine. Click here to subscribe to the print edition.

EVENT

China People's Republic 10,000 Yuan 1951

Hong Kong National Bank of China Limited 5 Dollars 1894

China People’s Bank of China 10 Yuan 1965

Zanzibar Government 20 Rupees 1908

China Central Bank of China 1 Yuan 1936

Palestine Currency Board 50 Pounds 1929

Japan 1927 Emergency Issue 50 Yen 1927

Canada DC-19 $500 1911

East Africa East African Currency Board, Mombasa 1,000 Shillings or 50 Pounds 1921

Russia Russian-American Company 50 Kopeks ND (1816-1867)

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