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Auction: CSS78D - The Numismatic Collectors' Series sale - Hong Kong and World Banknotes and Coins
Lot: 5724

The Hongkong and Shanghai Banking Corporation, $5, remainder, two corners clipped by printer for security, 18xx (ca.1866), grey, '$5 and 5$' in blue at centre, reverse green, Bank arms at centre, an Ashby & Co. printing,

An absolutely spectacular note, and the prize in any collection!

The Hong Kong Bank was founded on 3rd March 1865 as the
"Hong Kong & Shanghai Banking COMPANY". In that year notes were placed into circulation subsequently.

By one year later -- mid-1866 -- the Bank had decided to incorporate and had arranged its incorporation papers. The newly-named bank "Corporation" was to emerge from the "Company" on 1st January 1867.

Accordingly, notes were printed from mid-1866 with the new "Corporation" title, then signed and held in reserve pending their issue from 1st January 1867.

In fact, one wonderful issued note exists with the 1.1.1867 date. This
note was located by longtime collector Keith Austin of Carlisle,
England, and now of Kuala Lumpur, and transacted on behalf of Robert Lam, the head of the Hong Kong Museum of History. Robert Lam was very keen on Hong Kong banknotes, and as a result the Museum contains an exceptional holding.

To our recollection, the amount paid for the note during the 1970's was HKD160,000 -- an absolutely astronomical sum at this time when banknote collecting had barely commenced.

This note can be seen reproduced in a number of catalogues. It was first exhibited in 1988 by the Museum, and can be seen in their catalogue of the Museum exhibition.

At present, after more than 150 years only one note on the "Hong Kong & Shanghai Banking COMPANY" has been located, this being a $5 (tear-cancelled at top), which turned up at a US coin convention during the late 1970's.It has remained in the same collection for close to fifty years. And like this present note, it exhibits fresh colours and paper.

A unique opportunity to acquire a note from the first year of Hong
Kong's most famous bank, and in a virtually perfect state of preservation. In fact, holding the note between the fingers produces a special type of "paper music"!

It may be noted that this issue was prepared by Ashby & Company in London. By 1870 Ashby had been taken over by the London firm of Barclay & Fry, statedly to acquire Ashby's engraver's. Accordingly only a few notes can be found bearing the Ashby logo.
(Pick 115r), PMG 50 About Uncirculated (Cancelled, Corners Removed, Stains). The ONLY note in the PMG population report and to date very likely to be the earliest Hong Kong note printed for HSBC available to private collectors.


18XX年(應為1867年)香港上海匯豐銀行5元注銷票，基於保安理由紙角經銀行/印鈔廠裁剪，Ashby & Co.印刷局印製，此局其後被Barclay & Fry公司收購，故帶Ashby商標更見稀有。匯豐銀行於1865年3月3日成立，當時名為「香港上海匯理銀行」，此乃遵照英國早年的合股銀行的慣例，以主要業務經營地區來為銀行命名。成立同年，銀行開始發行流通票，其後銀行獲批於1867年起成為有限責任公司，故自1866年中起，所有印刷的鈔票均改用 “The Hongkong and Shanghai Banking Corporation”作銀行名稱。本鈔最初於七十年代流入私人收藏市場時，價值高達港幣16萬元，以當時而言可謂天文數字。後來約在1980年首次於博物館展出，亦載於多本展覽册上。時到至今，在銀行成立逾150年間亦僅見過一枚以 “Hong Kong & Shanghai Banking COMPANY”為銀行名稱之鈔票，是一枚上方經撕毀注銷之5元票，亮相於1970年代之美國錢幣展，其後一直存於同一集藏中長達50年。PMG 50，紙角銹漬經移除，紀錄中唯一的一枚，亦是相估迄今為止最早期匯豐銀行印製的香港紙鈔，今次實屬千載難逢之機會，能入手此枚出自本地龍頭銀行的首枚發行鈔票，保存極完好，甚為難得。

Estimate
HK$500,000 to HK$750,000

Starting price
HK$500000