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Auction: 8001 - Banknotes of Hong Kong & China
Lot: 276

Union of South Africa, a cancelled set comprising £1,5,100,1000,10000, Pretoria, law of 1920, black and white, arms top centre. In 1920 the worldwide crisis greatly influenced the value of gold and silver. South Africa being heavily reliant on gold, and a major issuer of gold sovereigns, was heavily affected. This crisis led in 1921 to the establishment of the South Africa Reserve Bank. For a short time, notes were issued payable in gold coin or gold bullion. This series is remarkable given that it produced a denominaton of 10,000 gold Pounds for circulation, which appears to have been exceeded in value only by the Turkish £50,000 note. South Africa, Union of South Africa, Gold Certificate, £1, 1920, payable in gold coin or gold bullion, transitional issue, serial number A/1 480248, cancelled with three star and three circular punches, otherwise extremely fine. *Only two or three unredeemed notes of this issue are believed to exist, and a handful of cancelled pices. South Africa, Union of South Africa, Gold Certificate, £5, 1920, payable in gold coin or gold bullion, transitional issue, serial number B/1 049710, cancelled with three star and three circular punches, otherwise extremely fine. *It is believed that at most one note survives in uncancelled form. South Africa, Union of South Africa, Gold Certificate, £100, 1920, payable in gold coin or gold bullion, transitional issue, serial number C/1 005817, cancelled with three small and one large circular punches, otherwise extremely fine. *It is believed that no note remains unredeemed, and only a handful of cancelled ones remain extant. *100 Gold Pounds was equal to 732.51 grams of gold, or approximate 39 ounces. South Africa, Union of South Africa, Gold Certificate, £1000, 1920, payable in gold coin or gold bullion, transitional issue, serial number D/1 001765, cancelled with three star and three circular punches, otherwise extremely fine. *It is believed that at no note remains unredeemed, and only a handful of cancelled ones. *1000 Gold Pounds was equal to 7.32 kilos of gold, or approximate 390 ounces. South Africa, Union of South Africa, Gold Certificate, £10,000, 1920, payable in gold coin or gold bullion, transitional issue, serial number E/1 000069, cancelled with three star and three circular punches, otherwise extremely fine, slight counting mark at lower left. *It is believed that at no note remains unredeemed, and only a handful of cancelled ones. *10,000 Gold Pounds was equal to 73.25 kilos of gold, or approximate 2354 ounces. (P 69,70,71,72,73), star cancellation perforations, good extremely fine, fresh and very rare. Estimate HK$ 80,000-100,000

Sold for
HK$70,000