PMG-certified Hong Kong Rarity Could Realize More than $250,000

Posted on 1/7/2025

The Spink auction series in January also includes several NGC-certified Chinese coins expected to realize five figures.

Rare and historic collectibles, including a fascinating mix of hundreds of banknotes certified by Paper Money Guaranty® (PMG®) and dozens of coins certified by Numismatic Guaranty Company® (NGC®), are available to collectors in a Spink Auction Series. Online bidding is already underway for Sessions CSS112A, CSS112C and CSS112D, which conclude on January 11-12, 2025.

Among the most impressive PMG-certified lots offered is a Hong Kong, Mercantile Bank of India, Ltd. 1912 25 Dollars graded PMG 15 Choice Fine (CSS112D, lot 3031), with an estimate of HKD 2,000,000 to HKD 2,500,000 (about $260,000 to $320,000). This note stands as a rare artifact of early 20th-century banking history. With its intricate design and limited issuance, this banknote is highly sought after by collectors, reflecting the region’s colonial-era financial legacy and its connections to global trade. There are only two graded examples of this note in the PMG Population Report — both in the same grade.

Click images to enlarge.

Among the NGC-certified coins is a China 1990 12-ounce Gold 1,000 Yuan Panda graded NGC PF 69 Ultra Cameo (CSS112A, lot 358), with an estimate of HKD 250,000 to HKD 300,000 (about $32,000 to $39,000). This coin featuring a playful trio of iconic giant pandas in exquisite detail combines artistic beauty with substantial bullion value, making it a prized addition to any collection of modern Chinese coinage. Of the 46 examples recorded in the NGC Census, there is only one graded higher than this.

Click images to enlarge.

Some of the PMG- and NGC-certified lots in CSS112A are:

  • a China / Empire 1246-1341 Yuan Dynasty 2 Kuan graded PMG 12 Fine NET (lot 2), with an estimate of HKD 160,000 to HKD 220,000 (about $21,000 to $28,000)
  • a China 1984 Gold 150 Yuan - Lunar Series, Rat graded NGC PF 69 Ultra Cameo (lot 348), with an estimate of HKD 90,000 to HKD 120,000 (about $12,000 to $15,000)
  • a China 1912 Silver Dollar - Li Yuan Hung graded NGC MS 62 (lot 236), with an estimate of HKD 80,000 to HKD 120,000 (about $10,000 to $15,000)
  • a China, Main Official Currency Bureau 1908 400 Cash graded PMG 15 Choice Fine (lot 77), with an estimate of HKD 60,000 to HKD 90,000 (about $7,700 to $12,000)
  • a China 1901 Kiangnan Silver Dollar - “HAH” Dot Eyed Dragon graded NGC MS 61+ (lot 192), with an estimate of HKD 50,000 to HKD 70,000 (about $6,400 to $9,000)
  • a Taiwan, China - Official Silver Note 1895 10 Dollars graded PMG 35 Choice Very Fine (lot 122), with an estimate of HKD 40,000 to HKD 70,000 (about $5,100 to $9,000)
  • a China, Russo-Asiatic Bank ND (1910) 100 Dollars graded PMG 64 Choice Uncirculated EPQ (lot 55), with an estimate of HKD 40,000 to HKD 60,000 (about $5,100 to $7,700)
  • a China 1982 Gold 200 Yuan - Lunar Series, Dog graded NGC PF 69 Ultra Cameo (lot 344), with an estimate of HKD 30,000 to HKD 40,000 (about $3,900 to $5,100)

Some of the PMG- and NGC-certified lots in CSS112C are:

  • a Hong Kong 1882 5 Dollars Front Color Trial Specimen graded PMG 63 Choice Uncirculated (lot 2149), with an estimate of HKD 250,000 to HKD 400,000 (about $32,000 to $51,000)
  • a Hong Kong, Oriental Bank Corp. ND (ca. 1860s) 25 Dollars Proof graded PMG 62 Uncirculated (lot 2148), with an estimate of HKD 200,000 to HKD 300,000 (about $26,000 to $39,000)
  • a Hong Kong, Chartered Bank of India, Australia & China 1923-29 50 Dollars graded PMG 15 Choice Fine (lot 2166), with an estimate of HKD 200,000 to HKD 300,000 (about $26,000 to $39,000)
  • a Hong Kong, HK & Shanghai Banking Corp. 1901 50 Dollars graded PMG 20 Very Fine NET (lot 2228), with an estimate of HKD 200,000 to HKD 300,000 (about $26,000 to $39,000)
  • a Bhutan 2003 Gold 3,000 Ngultrum - World Fellowship of Buddhist Youth graded NGC PF 69 Ultra Cameo (lot 2066), with an estimate of HKD 48,000 to HKD 65,000 (about $6,200 to $8,400)
  • a Bhutan 2003 Gold 1,000 Ngultrum - World Fellowship of Buddhist Youth graded NGC PF 69 Ultra Cameo (lot 2065), with an estimate of HKD 24,000 to HKD 35,000 (about $3,100 to $4,500)
  • a Bhutan 2002 Gold 3,000 Ngultrum - Protection of Nature, Elephant graded NGC PF 69 Ultra Cameo (lot 2067), with an estimate of HKD 25,000 to HKD 30,000 (about $3,200 to $3,900)
  • a Hong Kong 1978 40-gram Gold Medal - Po Leung Kuk Centenary graded NGC PF 69 Ultra Cameo (lot 2056), with an estimate of HKD 24,000 to HKD 30,000 (about $3,100 to $3,900)

Some of the PMG-certified lots in CSS112D are:

  • a Hong Kong, Mercantile Bank of India, Ltd. 1948 500 Dollars graded PMG 25 Very Fine (lot 3038), with an estimate of HKD 450,000 to HKD 600,000 (about $58,000 to $77,000)
  • a Hong Kong, HK & Shanghai Banking Corp. 1897-98 5 Dollars graded PMG 20 Very Fine (lot 3012), with an estimate of HKD 220,000 to HKD 280,000 (about $28,000 to $36,000)
  • a Hong Kong, Mercantile Bank of India, Ltd. 1935 50 Dollars graded PMG 25 Very Fine (lot 3032), with an estimate of HKD 120,000 to HKD 150,000 (about $15,000 to $19,000)

Estimates are provided by the auction house. The $ symbol indicates US Dollars.


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