More than 1,600 Rare Banknotes Graded by PMG Featured in Hong Kong Auction

Among the rarities certified by Paper Money Guaranty® (PMG®) that are being offered in an upcoming sale in Hong Kong is a combination of an Artist's Rendition and a Progressive Proof for a never-issued Chinese banknote. Online bidding is already underway for the Spink Numismatic Collectors’ Series Sale, which will take place in four parts (Part A, Part B, Part C and Part D) that conclude from September 24-27, 2021.

One of the top lots in the sale (Part A, lot 265) pays tribute to Chinese blue-collar hero “Iron Man” Wang Jinxi. The pairing includes a uniface People’s Republic of China 1973 2 Yuan Front Artist’s Rendition (certified by PMG as genuine) and a China 1973 2 Yuan Front Progressive Proof with much of the same design (graded PMG 64 Choice Uncirculated EPQ). Both are encapsulated in a PMG multi-note holder to make it easy to appreciate the Artist’s Rendition and the Progressive Proof side-by-side. This pair has an estimate of HK$200,000 to HK$400,000 (about $26,000 to $51,000 USD)

People’s Republic of China 1973 2 Yuan Front Artist’s Rendition certified by PMG as genuine and a Front Progressive Proof graded PMG 64 Choice Uncirculated EPQ Click image to enlarge.

“Iron Man” Wang (1923-1970) is a folk hero in China for his work in the Daqing Oil Fields in 1960. As China sought to break its dependence on foreign oil, Wang and his drilling team worked through fatigue and injury, often in frigid temperatures, before finally striking oil. This earned Wang his nickname of "Iron Man" and led to his emergence as a model of the working class in China.

The Artist's Rendition depicts Wang on the left of the note, seeming to look toward the Daqing Oil Fields in the distance. The Progressive Proof contains the same design in black and white but without Wang or the serial number. A Progressive Proof is part of the developmental stages of note-making in which a partial intaglio or lithographic print is created before the final proof is produced. This proposed 2 Yuan design was ultimately not approved for circulation and was never officially issued.

Other PMG-certified Chinese rarities in the sale include:

• a group of People’s Republic of China 1970 Artist's Rendition for a series of emergency 'Wartime Preparation' banknotes certified by PMG as genuine (Part A, lot 263) with an estimate of HK$300,000 to HK$500,000 (about $39,000 to $64,000 USD)
• a pair of People’s Republic of China 1970 10 Yuan Front and Back Artist’s Renditions certified by PMG as genuine (Part A, lot 264) with an estimate of HK$200,000 to HK$400,000 (about $26,000 to $51,000 USD)
• a group of nine People’s Republic of China 1999 100 Yuan uniface Progressive Proofs with grades from PMG 55 About Uncirculated EPQ to PMG 67 Superb Gem Uncirculated EPQ (Part A, lot 272) with an estimate of HK$200,000 to HK$400,000 (about $26,000 to $51,000 USD)
• a pair of China Beijing Banknote Printing Co. 10 Yuan uniface obverse and reverse Test Notes graded PMG 67 Superb Gem Uncirculated EPQ and PMG 64 Choice Uncirculated (Part A, lot 266) with an estimate of HK$150,000 to HK$300,000 (about $19,000 to $39,000 USD)
• a China, Hong Kong, Mercantile Bank of India 1941 50 Dollars graded PMG 25 Very Fine (Part B, lot 1320) with an estimate of HK$180,000 to HK$240,000 (about $23,000 to $31,000 USD)
• a China, Hong Kong, Chartered Bank of India, Australia & China 1903-12 5 Dollars graded PMG 20 Very Fine NET (Part B, lot 1330) with an estimate of HK$120,000 to HK$220,000 (about $15,000 to $28,000 USD)
• a China, Hong Kong ND (1911-23) 10 Dollars Color Trial Specimen graded PMG 62 Uncirculated (Part B, lot 1340) with an estimate of HK$140,000 to HK$200,000 (about $18,000 to $26,000 USD)
• a China, Hong Kong, Chartered Bank of India, Australia & China 1931-34 50 Dollars graded PMG 25 Very Fine (Part B, lot 1360) with an estimate of HK$90,000 to HK$150,000 (about $11,000 to $19,000 USD)
• a China, Hong Kong 1979 1,000 Dollars Replacement/Star graded PMG 55 About Uncirculated (Part B, lot 1395) with an estimate of HK$100,000 to HK$150,000 (about $13,000 to $19,000 USD)
• a China, Chinese Revolutionary Government 1906 100 Dollars/Cent Piastres graded PMG 64 Choice Uncirculated (Part A, lot 10) with an estimate of HK$80,000 to HK$140,000 (about $10,000 to $18,000 USD)
• a China, Macau, Banco Nacional Ultramarino 1919 Patacas graded PMG 30 Very Fine (Part B, lot 1293) with an estimate of HK$110,000 to HK$130,000 (about $14,000 to $17,000 USD)
• a China, Hong Kong, Chartered Bank of India, Australia & China 1911-22 5 Dollars graded PMG 25 Very Fine NET (Part C, lot 2930) with an estimate of HK$80,000 to HK$120,000 (about $10,000 to $15,000 USD)
• a China, Hong Kong, Chartered Bank of India, Australia & China 1911-22 5 Dollars graded PMG 12 Fine NET (Part C, lot 2929) with an estimate of HK$32,000 to HK$55,000 (about $4,000 to $7,000 USD)
• a China/People’s Republic 1953 3 Yuan graded PMG 35 Choice Very Fine (Part D, lot 4379) with an estimate of HK$20,000 to HK$40,000 (about $2,500 to $5,000 USD)
• a China/People’s Republic 1962 1 Jiao graded PMG 58 Choice About Uncirculated (Part D, lot 4410) with an estimate of HK$10,000 to HK$20,000 (about $1,300 to $2,500 USD)

All estimates are provided by the auction house.