Uncle Ho, a retired bus driver from Yau Ma Tei: Real-life Valuation of a Five-Consecutive-Note Set of 1960 "Two-Dollar Labour" Banknotes

There's a golden rule in banknote collecting: the value of sequential serial numbers always exceeds the simple sum of individual notes. Uncle Ho's batch of "Carriage Two Yuan" banknotes is a prime example.

Uncle Ho, 67, has lived in Yau Ma Tei for decades, retiring after a long career as a bus driver. His father was an "old Guangzhou" who moved south from mainland China. In the 1980s, whenever he returned to his hometown to visit relatives, he would bring back various items, including a stack of old Renminbi wrapped in newspaper. Uncle Ho always considered them "Dad's nostalgic keepsakes" and left them untouched on his bookshelf for decades.

Recently, he wanted to buy an electric wheelchair for his wife, who has bad knees, but was a few thousand dollars short. He suddenly remembered the stack of old banknotes and decided to open them up. Inside were five "Two Yuan" banknotes featuring a lathe worker, and crucially—all five had consecutive serial numbers.

Condition Assessment

Spread out, the five banknotes exhibited a remarkably consistent state of preservation:

  • Edition: Third Series Renminbi, 1960 edition Two Yuan (Lathe Worker Two Yuan), five-star watermark version
  • Prefix: Consecutive five-note serial numbers (III IV 78345621-78345625)
  • Condition: All five are VF20-VF25, with light soft folds but no hard creases, no tears
  • Coloration: The green undertones on the front are well-preserved, and the red national emblem on the back is vibrant.
  • Special Issues: The third note has a very slight yellow spot on the corner; the other four are clean.

Sequential Serial Number Premium Calculation

The individual "Carriage Two Yuan" (VF20-25) banknotes have a buy-back price of approximately HK$3,500-4,500 each. However, when sold as a set of five consecutive serial numbers, there is a significant premium:

  • Average price per individual note: HK$4,000
  • Total price for five individual notes: HK$20,000
  • Premium for a set of five consecutive notes: +25-30%
  • Quoted price for five consecutive notes: HK$25,000

Uncle Ho's eyes widened when he heard the quote: "Five old banknotes worth twenty-five thousand? That's more than enough for the electric wheelchair!" The deal was closed on the spot.

Do you have old Renminbi at home? Especially varieties with consecutive or replacement serial numbers, which may have an additional premium. WhatsApp 98342057 to send photos, and Gukam Kiimpo will help you with an appraisal.

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Common FAQs

舊版人民幣值多少錢？

睇套別同品相：第一套人民幣全套（62 種）全品相收藏級可達 HK$3,000,000 以上，「四大天王」（牧馬圖、瞻德城、蒙古包、駱駝隊）單張過百萬。第二套「大黑拾」HK$200,000–550,000、「蘇三幣」（綠三元）HK$30,000–80,000。第三套「背綠水印壹角」HK$30,000–100,000、「車工貳元」HK$1,500–5,000。第四套 1980 版 50 元（8050）HK$2,000–8,000。

舊紙幣品相點樣判斷？

業界用 PMG/PCGS 評級體系（1-70 分）：70 分為完美未流通；65-69 分為極美品；60-64 為精品；55-59 為近未流通；50 以下為流通品。判斷重點：四角是否尖銳無折痕、票面是否乾淨無污漬、紙張是否平整無裂口、有冇水漬、變色或被修補痕跡。「全新挺版」（UNC）價格係流通舊品嘅 3-10 倍。

連號整版同單張價值差幾多？

差距好大。以第三套人民幣「車工貳元」為例：單張普品約 HK$1,500–3,000；十連號約 HK$25,000–40,000；百連整刀（100 張連號）可達 HK$300,000 以上。「全套同號」（一套各面額尾號完全一致）更係收藏家極品，價格係單張總和嘅 5-10 倍。所以發現家中有連號舊鈔千祈唔好拆散賣。

Antique gold appraisal and treasure buying with cash on-site service:

Recycling process

  • 1) Clients should first provide basic information about their collections via WhatsApp (852) 98342057. You can also contact us directly via this link.

  • 2) We will provide a preliminary quote after receiving the image information.

  • 3) Both parties agree on a time and place (on-site inspection is available) to inspect the collection. We will provide a precise quote based on the actual condition of the collection.

  • 4) Confirm the sale and make payment in various forms such as bank transfer or cash.
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