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Lot
21306

China People's Republic 10 Yuan 1953 Pick 870. ...

2014 April 24 & 28 CSNS World Currency Signature Auction - Chicago #3525

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Auction Ended On: Apr 24, 2014
Item Activity: 7 Internet/mail/phone bidders
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Location: Renaissance Schaumburg Convention Center Hotel
1551 North Thoreau Drive
Schaumburg, IL 60173

Description:
Trophy 1953 People's Republic of China 10 Yuan
China People's Republic 10 Yuan 1953 Pick 870
Quite simply, the king of modern Chinese Banknotes. In colloquial collector's language, the note is referred to as ??? (Big White Edge) or ??? (Big Black 10). At the time of issue, the note represented around 1/3 the wage of a skilled technical worker, or around three months for a laborer. The economic turmoil during the next decades resulted in the mass redemption of these notes, thus accounting for its rarity today.

With the exception of some smaller denomination notes, this note represents the crowning achievement of any Chinese banknote collection, and has the greatest and most constant demand. One lucky collector tonight will take this trophy that the cataloger hopes will be cherished forever. PCGS Apparent Very Fine 35, mounting remnants on back.
From The Ruth W. Hill Collection

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