Previous Lot Next Lot

Auction: 403 - World Banknotes at NY INC
Lot: 285

The Chartered Mercantile Bank of India, London & China, China, [TOP POP] Face proof 500 Taels, Shanghai, 18_ (1800s),

the Chartered Mercantile Bank of India, London & China, which evolved from the Mercantile Bank of Bombay, played a significant role in the history of British-Asian finance during the 19th century. Founded in Bombay in October 1853, the bank quickly expanded into East Asia, establishing its Shanghai branch in November 1854. This branch became crucial in facilitating trade and financial services between the East and West, highlighting Shanghai's significance as a vibrant commercial centre. In 1857, the bank obtained a royal charter and rebranded as The Mercantile Bank of India, London, and China, with London as its headquarters by 1858. It gained a strong reputation for facilitating financial transactions between India, China, and various British territories. Notable events such as the opening of the Suez Canal in 1869 and the completion of the Indo-European telegraph line to Calcutta in 1871 further contributed to its prominence.

This 500 Taels face proof, issued by the Shanghai branch of The Chartered Mercantile Bank of India, London & China, represents a remarkable artefact from the bank’s operations in East Asia. The note signifies the bank's vital role in the financial sector of Shanghai during the 1800s, embodying its commitment to connecting trade and finance across different regions. As a currency used in China, the tael was an essential monetary unit, showcasing the bank's adaptability to local economies while maintaining its global influence. This note is, to date, the sole certified example for the type by PCGS, attesting to its rarity and showcasing exceptional preservation and detail. Its historical rarity and connection to the Shanghai branch underscore its importance as an emblem of China’s economic heritage and the global influence of British-Asian banking during the 1800s,

(Pick S224E, S/M S54-), in PCGS holder 64 Choice Uncirculated, previously mounted, the sole example for the type so far graded by PCGS

Estimate
$850 to $1,350

Starting price
$600