(t) CHINA--FOREIGN BANKS. Hong Kong & Shanghai Banking Corporation.

(t) CHINA--FOREIGN BANKS. Hong Kong & Shanghai Banking Corporation. 10 Dollars, 1.9.1922. P-S317a. S/M#Y13. PMG About Uncirculated 55. Chefoo. Printed by Thomas de la Rue in England. The 10 Dollars with the iconic design of a woman making silk lace is a testament to Shandong's silk industry. Of course, Chefoo is in Shandong, making the design especially appropriate. A well centred note with enticing original inks and clear hand drawn signatures. Light circulation is seen, but it is entirely problem free and will make for an exceptional addition to any advanced collection. Another interesting feature of this series is that both the Shanghai and Hong Kong office buildings are shown on the back, which is surprisingly quite unusual for any of the notes issued by this heavily collected institution. The Chefoo branch was the third in Northern China, after Tientsin and Peking. Chefoo, now known as Yantai, was the main outlet for Shandong's silk products (known as Shantung) and accounted for a large proportion of its trade. Even though, as of the time of cataloguing, a total of 16 notes of this type have been graded by PMG, many of those have been encountered with problems, and this is still an exceptionally scarce type that is surely missing from even the most advanced collections. Estimate: $4,000 - $7,000. Provenance: From the Yang Ai Hao Collection. 1922年香港上海滙豐銀行拾圓。 烟臺地名。英國德納羅公司印製。拾圓以婦女織花邊綢為標誌性設計，見證了山東絲綢業之繁榮。烟臺地處山東，此圖案設計自是相得益彰。印刷居中極佳，原裝油墨鮮明誘人，親筆手簽清晰。可見輕微流通痕跡，但全無瑕疵，定能為各大資深收藏錦上添花。此系列另一亮點在於背面同時印有上海與香港分行大樓圖案，在此熱門發鈔機構之各版紙鈔中頗為罕見。烟臺分行乃繼天津與北京之後，該行在華北開設之第三家分行。煙台為山東絲綢之主要外銷門戶，貿易佔比甚大。截至編目之時，同版式經PMG評級者共十六枚，然其中多數皆有瑕疵。此版依舊極為罕見，縱使頂級藏家之收藏亦多付闕如。 (t) This lot was manufactured in China (including Hong Kong), Russia or Republic of Belarus and was sourced from outside the United States for this auction after tariffs were enacted by the United States. Accordingly, as of February 27, 2026, any client who wishes to take delivery of this item within the United States will be subject to a 7.5% import tariff for China manufactured items, and a 35% import tariff for Russia or Belarus manufactured items. In addition a processing fee of 0.3464% (minimum $33.58 / maximum $651.50) will apply. Please note, this is not, and is not intended to be, a complete description of the applicable import tariffs and buyer remains fully liable for and agrees to promptly pay all tariffs and fees relating to the import of these items into the United States and neither the auctioneer nor any consignor will have any responsibility to pay any applicable tariffs or fees. Please consult your tax adviser with any questions. Furthermore, any lots subject to an import tariff will be shipped directly from our Hong Kong offices and shipments to the United States will be subject to our international shipping chart.

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