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Auction: 24300 - World Banknotes - e-Auction
Lot: 554

Chartered Bank of India, Australia & China, Straits Settlements, [Top Pop] Front Proof 100 Dollars, Singapore,
The Chartered Bank of India, Australia & China was established in 1853 by James Wilson, a Scottish businessman who also founded The Economist magazine. The bank was authorised by a royal charter from Queen Victoria, reflecting the British government's support for economic expansion in Asia. The primary aim of the bank was to facilitate trade between the British colonies and other international markets.

From its inception, the Chartered Bank focused on opening branches in strategic commercial locations. In 1858, the bank opened its first branches in Bombay, Calcutta, and Shanghai. A year later, in 1859, it expanded its operations to Hong Kong and Singapore, two of the British Empire's key trading hubs in Asia.

By the late 19th century, Singapore and Hong Kong had become critical points on maritime trade routes, facilitating commerce between Europe, India, China, and Southeast Asia. The Chartered Bank played a vital role by providing essential financial services, which helped stabilise and simplify those commercial transactions. The bank supported the trade of key commodities like tin, rubber, and tea, crucial to the economies of British colonies in Asia, and issued high-quality, secure banknotes, particularly in Singapore, to offer a reliable currency for daily transactions.

In 1969, the Chartered Bank merged with the Standard Bank of British South Africa, forming Standard Chartered Bank. This merger allowed the bank to consolidate its global presence and continue to be a significant force in the international financial sector.
(Pick Unlisted), in PMG holder 63 Choice Uncirculated, previously mounted, the sole example of the type graded on PMG Census

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Estimate

Starting price
£3200