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Auction: 24500 - World Banknotes - e-Auction
Lot: 760

Oriental Bank Corporation, Hong Kong, [Discovery Note / Top Pop] coloured proof for a $25, 18- (ca. 1860s),

in the history of numismatics, this vibrant blue proof note from the Oriental Bank Corporation emerges as a remarkable discovery, a $25 denomination from the 1860s, never before catalogued.

The Oriental Bank Corporation, which began its journey in 1842 in Bombay as the Bank of Western India, was established to support the burgeoning trade ambitions of the British Empire in Asia. Fueled by the opium trade, it quickly became a cornerstone in reshaping the region's economic landscape. Expansion to Colombo in 1843 and Calcutta in 1844 showcased its ambition, but its move to Hong Kong in 1846 was a masterstroke, positioning the bank at the epicentre of global trade. Here, it not only facilitated commerce but also shaped the financial backbone of a colonial economy. The strategic acquisition of the Bank of Ceylon in 1850, followed by its rebranding to the Oriental Bank Corporation upon receiving a royal charter in 1851, underscored its pivotal role in the imperial financial strategy.

This proof note was printed by Batho & Company, a firm with a rich history in the security printing of financial instruments. From the foundation of the Oriental Bank Corporation, all notes up until 1864 were printed by Batho & Co., or its earlier iteration, Batho & Bingley. However, in 1864, the bank switched to Perkins Bacon & Company for their banknote printing needs. An interesting detail in this proof is the address printed on it: Sherborne Lane. Throughout the period when Batho & Company or Batho & Bingley were responsible for printing these notes, the address associated with and printed on the notes was typically Lombard Street, London. The appearance of "Sherborne Lane" on this proof is something unprecedented or at least highly unusual, providing a unique piece of history about the printing practices and locations of Batho & Company during the 19th century.

Although undated and previously uncatalogued, it is possible to place this note within a very narrow timeframe. Given that the place of issue is stated as "Hong Kong" rather than "Victoria," we can associate this note with the series issued after 1852, specifically the series of 1860. We can further pinpoint the issue to 1860 itself, as there were two series in that year. The second series of 1860 does not feature Chinese text in the margins, which is present in this proof. This leads us to conclude that this proof was intended for the continuation of the first 1860 series, of which only the $5 denomination is known to exist. This detail not only adds to the rarity of the note but also to its historical significance, offering collectors and historians alike a fascinating glimpse into the evolution of currency printing in the era,

(Pick unlisted), in PMG holder 62 Uncirculated, previously mounted, minor corner damage. Extremely rare and first time seen, the Sole example of the type graded by PMG

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Sold for
£14,000

Starting price
£2500