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Auction: 7002 - Banknotes of Hong Kong & China
Lot: 2049

Hong Kong & Shanghai Banking Corporation, specimen $100, 18- (c.1890), red and pale blue, arms top centre, value top left and right, reverse red, arms at centre, value at left and right, no printed signature of the Chief Manager (the next manager not having been appointed at the time of this printing), text at centre reads Promises to pay the Bearer on demand at its office here one hundred dollars in the currency of the Island, value received (Ma H 28a, P. 147, Money in the Bank, J. Cribb p. 51 for revised later type), ink date 1890 in top right margin, perforated CANCELLED, slight mounting traces otherwise good extremely fine and a handsome Barclay & Fry engraving on unwatermarked banknote paper. A lovely note, excessively rare Estimate HK$ 350,000-450,000From 1888 onward the Bank in Hong Kong issued new style notes in Hong Kong and from this date The Chief Manager´s signature was printed on the notes by the note´s printers, Barclay & Fry in London. Accordingly there are 1888 "Thomas Jackson" notes and 1889 and 1890 "G.E. Noble" notes. However, during 1890 with the departure of Noble there was for some time uncertainty as to the designation of the Bank´s new Chief Manager until eventually the famous Thomas Jackson was prevailed upon to return from retirement. In the meanwhile, notes were being printed in London, and due to the "interregnum", they were shipped to Hong Kong with the Chief Manager´s signature blank. Until this time the date had been printed only as "18-", with the balance of the date subsequently overprinted in black ( see Cribb, p.50 $5 1st December 1889). The subsequent printing of $100 notes in September 1893 featured not only Jackson´s printed signature, but the date fully engraved as well. In addition, as an anti-counterfeiting measure, the Bank revised its engraved border design, this at least partly in the hope that a forger might mix dates and borders, with the result that his forgeries, no matter how finely made might be detected. Accordingly the $100 1890 is distinct both for its lack of a printed Chief Manager signature, and also for being the last $100 with the earlier style repeated "W" form of border. In 1890 the Bank also changed its background printing: for the 1888-1889 issue, a oval central motif with two lobes was overprinted in pale blue (see Cribb p.49). Subsequently for the 1890 (Jackson) issue a solid blue background was initiated, this background remaining in use until Barclay & Fry lost its printing mandate in 1900. An issued and cancelled $100 note with serial #44449 and dated 1st January 1895 can be seen on p.51 of Cribb. This note also illustrates the revised border instituted by the Bank in 1893. Careful examination of the $100 1895 will show a faintly engraved shallow repeating "W" border design, quite unlike the bold repeated "M" motif shown on the 1895 $5 shown on the same page, and which in fact is apparently the same border as the 1890 $100 but inverted. The Bank in its superb collection have no example of the $100 1890/1893 Jackson notes in any form, whether issued, specimen or proof. The great rarity of Hong Kong & Shanghai Bank issued notes in denominations of $50, $100, and $500 right up to the 1927 issue generally precludes examples being available for study and research. This note accordingly represents a unique opportunity to obtain a note of great rarity and desirability.

Sold for
HK$520,000