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Auction: CSS123B - China Banknotes and Coins
Lot: 1089

(x) Kwangsi Bank, China, 1 yuan, 2nd Year of Xuantong (1909), no serial number , black and grey, fantasy Kwangsi dollar at centre flanked by two dragons, with "lung" character stamps at top,
(Pick S2345), PMG 15. An excessively rare piece with only 3 examples known TO THIS DAY. Kwangsi has traditionally been an area heavy with trade to rest of Asia and rest of the world during the time. The Kwangsi mint was established in 1667 and stopped operation in 1861. After that, much of the currency used in the areas were trade dollars from other countries. There were always plans for local government officials to establish mints much like Kwangtung has successfully done but this was rejected by the central government. Therefore this note is one the first consolidation of currency in Kwangsi in over 50 years. Notes were printed in Japan with a print run of 100,000, whereas the 5 yuan of the same series had a print run of 200,000. Considering the volume of trade in the area of the time combined with the limited print run, it is no surprise only 3 survived to this day! At one point this note held the world record for a Chinese banknote sold in auction at Spink. Highly important in Chinese monetary history.

Estimate
HK$360,000 to HK$420,000