Rare 1901-1902 Russo-Chinese $1 "Mexican Dollar" banknote brings $10,200 at auction

  • This rare 1901-1902 Russo-Chinese $1 "Mexican Dollar" banknote sold for $10,200, making it the top lot of the auction.

    This rare 1901-1902 Russo-Chinese $1 "Mexican Dollar" banknote sold for $10,200, making it the top lot of the auction.

    Archives International Auctions

FORT LEE, N.J. – A 1901-02 Russo-Chinese $1 “Mexican Dollar” banknote sold for $10,200 and a scarce and attractive Sino-Belgian Bank 1908-12 specimen changed hands for $6,000 at a two-session public auction held September 26th by Archives International Auctions, in the firm’s Fort Lee offices at 1580 Lemoine Avenue, as well as online at www.archivesinternational.com.

 

Additional Chinese and worldwide banknote rarities also posted new world record prices. More than 740 lots of Chinese, Asian and worldwide banknotes, scripophily (stock and bond certificates), security printing ephemera and coins came up for bid, with nearly 60 percent of them going to new owners. Bidders were drawn to the many market-fresh items that are rarely seen at auction.

 

“We were extremely pleased with the results of this auction, with many notes selling for record prices,” said Dr. Robert Schwartz, the president of Archives International Auctions. “Chinese banknotes were consistently outperforming the market. We feel the banknote market is strong and vibrant as ever, with aggressive buyers located around the world, all vying for unique items.”

 

Worldwide highlights included a 2007 Bermuda $2 rarity that brought $1,260; a British North Borneo, 1901 issue 50-cent note that hit $2,640; and a Banque Du Canada, $25 commemorative low serial number (F000008) note that made $7,500. Chile was represented by a possibly unique Republica De Chile 10 Pesos, 1898 rarity in good condition but with a missing corner ($3,000).

 

A Banco Nacional-Banco De Bogota, 10 Pesos, 1899 issue breezed to $1,200; a Banco De La Union, 1 Peso 1887 Costa Rica specimen hammered for $960; a very attractive Bank of Ethiopia, 500 Thalers, 1922 issue high grade banknote went to a determined bidder for $4,200; and a very attractive El Banco de Espana, 1871 essay proof banknote sold to a satisfied bidder for $2,040.

 

China was well represented, with 192 lots, 142 of which changed hands, for a sell-through rate of 74 percent. Highlights included a Ming Dynasty note, the oldest printed banknote known, in fine condition ($4,200); a 1942 Bank of China, Tunxi branch cashier’s check ($1,320); and group lots of 4-8 examples of Central Bank of China, 25 cents, 1931 sequential notes ($348-$1,080 per lot).

 

A pair of 1947, Central Bank of China, 10,000 Yuan, P-315 issued banknotes finished at $870; a group of Ningpo Commercial Bank, 1925 issues (including an issued 1925, $1 rarity) coasted to $4,500; and four specimens from the same series ($1-$100) sold for between $3,000 and $3,900.

 

A pair of 1920 Chinese-American Bank of Commerce “Shanghai” issues, a $1 and $5, brought $2,160 and $2,640, respectively; a collection of Hong Kong and Shanghai Banking Corporation specimen and issued notes came up for bid, including a high grade issued 1900-02, $5, P-S351s that knocked down at $3,120; a HK&SBC, 1924 color trial $5 specimen, graded PMG 66 EPQ, made $5,100; and a 1924 $10 high grade specimen graded PMG 67 EPQ hit the mark for $5,700.

 

Other highlights from the China session included a Russo-Chinese, 1901-02, One Mexican Dollar rarity that hammered for $10,200; a Sino-Belgian Bank, $10 “Mexican Dollars” specimen that went for $6,000; and five different lots of rare Shanghai local issues and Bank of Fuling County 1948 temporary issues that finished with winning bids of between $1,380 and $1,620.

 

Archives International Auctions will be holding an exceptional auction of Chinese, U.S. and Worldwide banknotes, scripophily and coins on February 7th and 8th, 2017 including Part 2 of the Alexander I. Pogrebetsky Family Archives of rare Chinese banknotes. Watch the website for more info: www.archivesinternational.com.

Archives International Auctions is seeking consignments for future auctions as well as looking for U.S. and worldwide banknotes, coins, stocks, bonds, stamps, postal history, autographs, historic ephemera and documents to buy outright. To sell or consign one piece or an entire collection, you may call AIA at (201) 944-4800; or you can e-mail them at info@archivesinternational.com.

 

You may write to Archives International Auctions, at 1580 Lemoine Ave., Suite #7, Fort Lee, NJ 07024 U.S.A. To learn more about Archives International Auctions and the auctions planned for October and December, please visit www.ArchivesInternational.com. Updates are posted often.

 

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Archives International Auctions
1580 Lemoine Avenue
Suite 7
Fort Lee, New Jersey
info@archivesinternational.com
(201) 944-4800
http://www.archivesinternational.com
Press Contact:
Dr. Robert Schwartz
Archives International Auctions
P: (201) 944-4800
info@archivesinternational.com
 

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