Stumbled upon a"Big Ten"? The Sino-Soviet history and collection value behind a banknote | Gu Jin Jian Bao

"Da Hei Shi" – the 10-yuan note of the second series of Renminbi, named for its predominantly black color. What makes this banknote special: it was printed by the Soviet Union, a product of the Sino-Soviet friendship era. After the Sino-Soviet split in 1964, it was urgently recalled and destroyed, resulting in extremely limited circulation. Today, a "Da Hei Shi" in good condition fetches HK$200,000-400,000 on the market, making it the undisputed king of the second series of Renminbi.

A Banknote that Connects a Period of Sino-Soviet Honeymoon

This 1953 version of the 10-yuan note is considered the "King of the Four" among the Second Series of Renminbi. Due to its large size and dark color, it was colloquially known as "Da Hei Shi" (Big Black Ten). But its most distinctive feature is not its size, but its origin – it was printed by the Soviet Union.

• Historical Context: In the early 1950s, newly founded China had limited banknote printing technology and anti-counterfeiting capabilities. To stabilize the financial system and quickly unify the currency, the Chinese government commissioned its "big brother" at the time, the Soviet Union, to assist in designing and printing three high-denomination banknotes: 10 yuan, 5 yuan, and 3 yuan, collectively known in the industry as "Su San Bi" (Soviet Three Notes).
• Craftsmanship: The "Da Hei Shi" adopted the internationally advanced intaglio printing technology of its time, featuring delicate lines and a clear, fixed national emblem watermark. The printing craftsmanship far surpassed other denominations printed domestically during the same period, which is one reason why it is still talked about in collecting circles today.
• Historical Turning Point: However, this honeymoon period of Sino-Soviet friendship did not last long. In the early 1960s, Sino-Soviet relations deteriorated. To prevent the Soviet Union from using the printing plates it held to disrupt China's financial system, the People's Bank of China began a one-month limited recall of all Soviet-printed banknotes in circulation starting in April 1964. The "Da Hei Shi" thus faded from the stage of history.

Every "Da Hei Shi" you hold is not just a banknote, but a slice of international relations history.

The Market Value of "Da Hei Shi" Far Exceeds Its Face Value

Due to its special historical background, extremely short actual circulation time (less than ten years), and the thorough execution of the 1964 recall, the "Da Hei Shi" has extremely limited circulation today, making it one of the top banknotes in the collecting world. To determine the market value of a "Da Hei Shi," several factors need to be considered:

• Condition is Key:
  • Uncirculated (UNC): Crisp paper, sharp corners, no creases – this is the highest value condition. In the Hong Kong and Macao markets, uncirculated "Da Hei Shi" notes have recently sold for over HK$440,000.
  • Circulated: With obvious creases, minor stains, and slightly soft paper, the market price is approximately HK$110,000 to HK$220,000. Even those in poorer condition still have some collection value due to their rarity.
• Authenticity Verification: Due to its high value, there are many counterfeits on the market. Genuine "Da Hei Shi" notes have specific characteristics in ink texture, paper toughness, fixed watermark position, and hidden marks. Most counterfeits are color-printed reproductions, and under UV light, the watermark position and three-dimensional effect immediately expose them. If you are unsure, do not attempt to authenticate it yourself; seek professional help first.
• Serial Number Premium: If your "Da Hei Shi" has auspicious numbers such as "888", "666", "999", or special combinations like "all identical numbers", "sequential numbers", or "leopard numbers", the market premium can increase by 20%–50%.

For a complete background, authentication tips, and recent transaction records of the "Da Hei Shi" and other "Su San Bi" (Su San Yuan, Su Wu Yuan), please refer to the article Da Hei Shi and Su San Bi Collection Guide, which provides more detailed text and image comparisons.

Storage Tips: How to Handle It If You're Not Selling Immediately?

The "Da Hei Shi" is a paper collectible, and Hong Kong's humid climate poses significant challenges for its long-term preservation. If you do not plan to sell it immediately, we recommend the following practices:

1. Moisture Protection: Place it in an acid-free PET banknote sleeve, and then put the sleeved banknote into an electronic dehumidifying cabinet, set to 45%–60% relative humidity. Do not store it in metal boxes or drawers (where humidity is difficult to control).
2. Handling Protection: Always wear pure cotton gloves or use stainless steel tweezers before handling. Finger oils and sweat salts can slowly corrode the paper surface.
3. Crease Prevention: Use a hard plastic holder to protect the entire banknote. Do not fold or roll it. Once a crease appears, it cannot be reversed.
4. Light Protection: Prolonged exposure to strong light or UV rays will cause the ink to fade. Storing it in the dark is common sense.
5. Absolutely No Washing or Ironing: Washing disintegrates paper fibers, and ironing discolors the ink. Any trace of restoration will be immediately revealed under UV light by PMG grading agencies, leading to a "Net" label or refusal to grade.

For detailed information on the currency kings and storage specifics of the first and third series of Renminbi, please refer to Valuation Guide for the Twelve Treasures of the First Series of Renminbi and Hong Kong and Macao Market Guide for the Third Series of Renminbi. If you also have old Renminbi from the Republic of China period or pre-founding era, you can also have them valued together. The Banknote Buyback section lists market ranges for common categories.

Conclusion: Understand First, Then Monetize

The value of the "Da Hei Shi" is not just in the rarity of the banknote itself, but in the history of Sino-Soviet relations it carries. If you find this banknote while cleaning your house, the first thing to do is not to look for buyers online, but to keep it in its original condition and seek professional advice on its condition. An unwashed and unironed "Da Hei Shi" could be worth hundreds of thousands of Hong Kong dollars; one that has been "cleaned up" might only fetch the price of a damaged specimen, not to mention the possibility of being rejected by PMG for grading.

Contact Information

Gu Jin Jian Bao has years of experience in old Renminbi Buyback, offering free online initial appraisal, on-site collection, and instant cash or FPS settlement:

• WhatsApp: 98342057
• WeChat: john19998
• Phone: 852-98342057

Send us clear photos, and we will provide a reasonable estimated price range within 24 hours.