(t) CHINA--REPUBLIC. Industrial Development Bank of China. 1 Yuan

(t) CHINA--REPUBLIC. Industrial Development Bank of China. 1 Yuan, 1.6.1921. P-492a. S/M#C245-2. PMG Very Fine 30. Peking. Extremely rare 1 Yuan printed by BEPP. The SOLE EXAMPLE in the PMG census. In general, the later notes printed by BEPP are relatively much scarcer than the earlier ABNC-printed notes. PMG Comments "Foreign Substance." The Bank was formed in October 1920, with its headquarters in Peking and branches in large cities including Shanghai, Tientsin, and Nanking. Due to its heavy association with the Feng Clique, its business dwindled after the conclusion of the Northern Expedition and eventually ceased operations in 1931. Estimate: $600 - $900. 民國十年勸業銀行壹圓。 北京地名。財政部印刷局印製之極罕見壹圓。PMG評級紀錄中僅此一枚。一般而言，財政部印刷局印製之晚期紙鈔，較早期美國鈔票公司印製者更為罕見。PMG備註"外附物"。該行創於1920年10月，總行設於北京，並於上海、天津、南京等大城市設立分行。因其與奉系軍閥關係密切，北伐結束後業務日漸萎縮，最終於1931年停業。 (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.

Estimate:£0.75

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