1898 HSBC $50 specimen note achieves $40,000 in Hong Kong

paulfrasercollectibles

2015-06-26 13:07:47

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1898 HSBC $50 specimen note achieves $40,000 in Hong Kong

An attractive 1898 $50 specimen note from HSBC led among banknotes and bonds

An 1898 $50 specimen note from the Hong Kong and Shanghai Banking Corporation(HSBC)has sold as top lot in an auction of Banknotes, Bonds, Share Certificates and Coins of China and Hong Kong, which was held on January 11.

1898 HSBC banknote $50 specimenThe Hong Kong and Shanghai Banking Corporation was established in the aftermath of the first opium war

Crossing the block in Hong Kong, the note sold for $39,986 as the lead item in the sale. It is an extremely rare piece, and is also valued for its brilliant eye-appeal.

The Hong Kong and Shanghai Banking Corporation was first established in Hong Kong in 1865, when the region still remained a British colony. The note bears the signature of Sir Thomas Jackson, who became chief manager of the bank in 1876 and is responsible for it becoming one of the largest in Asia.

Jackson was also responsible for financing the development of Britain's newest colony, which was established in the aftermath of the first opium war. He is remembered by a large statue in front of the bank's Hong Kong headquarters, which was first unveiled in 1906.

A specimen note, the $50 was printed without serial numbers and has been stamped with a perforated "CANCELLED" throughout. Showing the royal coat of arms at the top centre, this is a very rare engraving from London printers Barclay & Fry, which has survived in extremely fine condition.

Bringing the auction's second highest bids was another note from the Hong Kong and Shanghai Banking Corporation, this time a $1 banknote originating from 1872. Issued on October 1 of that year, the note originates from the first day of issue for the series and is printed with the very low serial number 1160. It sold for $25,798.

Paul Fraser Collectibles has a brilliant stock of rare coins for sale. For more of the latest from across the auction world, sign up to our free weekly newsletter.

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