Thursday, June 26, 2008

Rare China Ming Dynasty Notes Sold at Lyn Knight Auctions

Lyn Knight Auctions
June 25, 2008

This Ming Dynasty 50 Cash note was sold at Lyn Knight Auction for $33,000, much more than the estimated value of $5000-$7500. The 50 Cash note is much more rare than the relatively common 1 Kuan note, which was also sold at the auctions for $4500. Lyn Knight estimated the latter note at $1000-$1500.

Description of the 50 Cash note on Lyn Knight site:

Fifty cash, noted by 50 small circles in rectangle near center. While the actual date is not filled in, printed during the reign of Emperor Hung Woo (1368-1399). The best information available indicates that this item was found in ruins of an old Chinese idol and likely placed there hundreds of years ago. As it is extremely difficult to verify for authenticity. The piece was taken to Maastricht to show to two experts; both believe it is likely genuine. One stated it is the best example he has ever seen. Margin roughness. Excessively rare.

Description of the 1 Kuan note on Lyn Knight Site:

Famed large size Ming Dynasty note on mulberry bark paper; the earliest collectible paper money. Two vermilion seals on face and one on back. Ten strings of coins, each representing 100 Cash, at center. The best information available regarding this particular example indicates that it is one of 50 found underneath a statue of Buddha during the Boxer Rebellion of 1900. Forty were held by the Chinese government, one was secured by a Chinese banker, and five were taken to America. There are certainly more than five in America, but they are not available with any degree of regularity. This piece was secured from an individual who spent many years involved with YMCA and Red Cross work in China. Long tear at right center. Overall strong quality.

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