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Auction: 12006 - Banknotes of China and Hong Kong
Lot: 129

Ming Dynasty, Da Ming Bao Chao, 1 kuan, (1368-1399), black text on grey mulberry bark , two red rectangular seals on face (Pick AA10, Smith Matravers T36-20 for type), exceptional, a lovely example and excessively rare in this grade Estimate HK$ 90,000-110,000 This iconic issue was first recently discovered in the early 1900´s during the Boxer Rising, an example selling for a great deal of money at the time. In 1930 a second group was subsequently found in a time capsule by Chinese labourers demolishing a temple on the outskirts of Beijung. The capsule contained a variety of objects but the notes were not regarded as of value and sold to passers-by for a few coppers each. Most of the notes were damaged but a Norwegian Missionary with an eye for quality selected this note from the centre of the capsule. On his death the note was purchased by a London dealer and verified at the time by the British Museum. Ming notes are scarce and can properly be called the World´s first readily available paper money. Due to their age the general condition can be mixed, the borders susceptible to fraying and the fabric of the note to thinning. This example is as near perfect as one could hope to find and thus is of the highest rarity and desirability, the borders are perfect and the fabric of the note is exceptional, this is without doubt one of the finest examples extant if not the finest. An important find and a highlight of any collection of Chinese or historical currency.

Sold for
HK$250,000