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500 Dollars
| Issuer | The Hong Kong & Shanghai Banking Corporation |
|---|---|
| Year | 1904-1907 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Cotton paper |
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| Obverse description | The obverse is printed in brown and green tones, with an ornate guilloche border surrounding the central design. The bank's coat of arms vignette occupies the centre, flanked by circular guilloche rosettes, with the issuer's name in bold letterpress across the top and bilingual Chinese and English text identifying the place of issue as Hong Kong. The denomination FIVE HUNDRED DOLLARS is stated in large letters across the middle, with the promise-to-pay clause, date, and signature lines for Chief Accountant and Chief Manager positioned in the lower half. |
|---|---|
| Obverse lettering | THE HONG KONG & SHANGHAI BANKING CORPORATION 香港上海滙豐銀行 HONG KONG PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE HERE FIVE HUNDRED DOLLARS OR THE EQUIVALENT IN THE CURRENCY OF THE ISLAND, VALUE RECEIVED. By Order of the Board of Directors. 五百圓 CHIEF ACCT CHIEF MANAGER |
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| Comments |
The Hong Kong & Shanghai Banking Corporation retained the right to issue its own banknotes in Hong Kong under the colony's note-issuing system, a privilege that continues to the present day. At the turn of the century, $500 was an enormous denomination — equivalent to several months' wages for most residents — meaning these notes circulated almost exclusively between merchants and banking houses rather than in everyday trade.
Survival rate for this series is extremely low. High-value notes of this period were typically presented for redemption quickly, and any that weren't were vulnerable to the humidity that destroys cotton paper in subtropical storage conditions.