Rare Deutsch-Asiatische Bank 1907 Peking issue Chinese foreign banknote brings $30,000 at auction A high-grade Deutsch-Asiatische Bank, 1907 Peking issue 5 Taels banknote rarity soared to a record $30,000 at a three-day auction held April 11-13 by Archives International Auctions in Fort Lee, N.J.
News-Antique.com - Apr 22,2016 - FORT LEE, N.J – A high-grade Deutsch-Asiatische Bank, 1907 Peking issue 5 Taels banknote rarity soared to a record $30,000, after opening on the floor for $14,500, at a three-day auction held April 11-13 by Archives International Auctions, in the firm’s offices at 1580 Lemoine Avenue (Suite 7) in Fort Lee. Additional Chinese and Russian banknote rarities also posted new world record prices.
“The success of this auction, with specific regard to the many Chinese, Asian and Russian banknotes that set new price records, clearly proved that the banknote and coin market in these areas is as active and vibrant as ever, with multiple buyers across the globe and aggressive competition for rare and unique items,” said Dr. Robert Schwartz, President of Archives International Auctions.
Over 1,700 lots of United States, Chinese, Russian and worldwide banknotes, coins, scripophily (stocks and bonds) and security printing ephemera were offered over the course of the three days. Featured were additional banknotes from the Alexander I. Pogrebetsky family archives of rare Chinese and Asian banknotes, and the initial offering from the Silicon Valley collection of worldwide banknotes.
Session 1, on April 11th, featured U.S. and worldwide banknotes and scripophily. Session 2, on April 12th, contained Russian and worldwide banknotes and Chinese scripophily. Session 3, on April 13th, featured Chinese banknotes and scrip notes. Nearly all the Chinese and Russian notes were from longstanding collections assembled over many decades and never previously offered.
Session I, began with world banknotes, featuring the Silicon Valley collection and numerous consignors banknotes. French Colonial notes were big hits and included a French Guiana, 1961, 500 Francs graded Gem Unc. 65 that sold for $1,140; and 1 Rupee, 1957 and 5 Rupees, 1959, Government of India “Persian Gulf Note” issues that brought for $885 and $3,540, respectively;
Also sold was a Jordan Currency Board, 1952 Issue, 500 Fils with special serial # B/A 700007 that gaveled for $1,770; a rare Oman Currency Board specimen set of eight denominations in Choice AU to Gem Uncirculated condition, rarely seen in this format, that realized $6,000; and an unassuming lot of Chile banknote rarities that had been cut in half achieved an amazing $5,400.
Session II began with worldwide banknotes from Pacific Rim and Asian countries. Highlights included 25 Rupiah and 50 Rupiah essay specimens by Security Bank Note Company that rose to $1,140 and $1,020, respectively; a Japan, 1 Yen Coiled Dragon Silver Dollar, M34 (1901) in MS 65 ($708); and a Royal Thai Mint Double Coin presentation set, circa 1944 to 1963 (also $708).
In addition, 101 lots of Chinese railroad and related bonds were sold out of the 102 lots offered, with most lots bringing $250-$500. Russian notes included two Vladikavkaz Railroad Co., 1918, 5,000 and 10,000 Rubles notes that sold for $885 and $944, respectively; a 1920, 500 Rubles, Russian Central Union of Consumers Societies Specimen ($4,427); and a circa 1918-20 Torgsin Soviet Trading Fleet 3 Rubles Scrip Note that ended up selling for a very impressive $11,400.