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Auction: 403 - World Banknotes at NY INC
Lot: 286

The Chartered Mercantile Bank of India, London & China, China, [TOP POP] Face proof 1000 Taels, Shanghai, 18_ (1800s),
the Chartered Mercantile Bank of India, London & China, initially known as the Mercantile Bank of Bombay and later evolving through its extensive network across Asia, holds a remarkable place in the history of British-Asian finance. Originally founded in Bombay in October 1853, the bank swiftly expanded its operations into East Asia with the establishment of its Shanghai office in November 1854. This location would become central to the bank’s strategic growth, reflecting Shanghai's importance as a bustling trade hub between the East and West during the 19th century. After receiving a royal charter in 1857, the bank underwent a rebranding to The Mercantile Bank of India, London, and China, with its headquarters ultimately based in London by 1858. The institution soon gained a formidable reputation, facilitating financial transactions between India, China, and other British territories, especially in light of significant events such as the opening of the Suez Canal in 1869 and the completion of the Indo-European telegraph line to Calcutta in 1871.

This 1000 Taels face proof, issued by the Shanghai branch of The Chartered Mercantile Bank of India, London & China, stands as an impressive artefact from the bank’s East Asian expansion. The note reflects the bank’s prominence within Shanghai's bustling financial sector during the 1800s, symbolising its commitment to bridging trade and finance across regions. Printed by Batho & Co for use in the Chinese market and where taels represented a crucial currency unit, this specimen embodies the bank's adeptness in adapting to local economies while maintaining a broader 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 S224F, S/M S54-), in PCGS holder 63 Choice Uncirculated, pen & cut cancelled, previously mounted, the sole example for the type so far graded by PCGS

Estimate
$850 to $1,350

Starting price
$600