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Rare Chinese banknotes triple expectations

A collection of Peking specimens have sold for €16k, smashing their €5k pre-sale estimate

International Coin Exchange have completed a sale earlier this week which included a set of Peking banknotes.

The notes were printed in 1914 by the Banque Industrielle de Chine, a joint venture by the Peking government and French businesses which was based in Paris. The six-piece specimen set consists of 1, 5, 10, 50, 100 and 500 Dollars.

The rare pieces were all uncirculated and printed 'Specimen' in red, and used English and French text on one side and Chinese lettering on the other.

Peking banknotes
Rare Chinese banknotes (Click to enlarge)

The original guide price was set at €5,000, but as is often the case with Chinese collectibles in recent times (and banknotes in particular, as a Hong Kong sale by Spink in January showed).

In this case bidders quickly pressed the price up well into five figures, bringing an impressive $16,000, suggesting that such banknotes would be a worthy investment.

Image: International Coin Exchange

Last updated: 25 February 2010