Mr. Choi from Kwun Tong, father's keepsakes: Green Back with Watermark 1 Jiao, Lathe-Work 2 Yuan, third series of RMB collection record

The recovery of old banknotes often isn't initiated by collectors, but rather by descendants who are unaware of their value and nearly discard them. Mr. Choi's case is a typical example.

Mr. Choi, thirty-five years old, works in warehouse logistics management in Kwun Tong. His father moved to Hong Kong from Shenzhen in the 1980s and, after passing away, left behind an old briefcase containing several expired documents and a stack of old banknotes tied with a rubber band. Mr. Choi initially intended to throw them away as waste paper, but his wife casually checked online and discovered that several of the notes might have collectible value.

"My wife said they might be worth tens of thousands of dollars. I was skeptical but didn't dare to just throw them away, so I came to you to have a look," Mr. Choi said, bringing the stack of banknotes to the store.

Item-by-item inspection: Several key varieties of the third series Renminbi

There were a total of fifteen notes when spread out. Most were common circulating notes, but several notable varieties were interspersed:

1. "Green Back with Watermark" 1 Jiao ×1

Known as the "King of Banknotes" in the third series Renminbi. The front is jujube red, the back is dark green, and a five-pointed star watermark can be seen when held up to the light. The condition of this note is around VF25 according to PMG grading standards — it has a few soft folds but no hard creases, slight wear on the corners, and the color is still vibrant.

2. "Lathe Worker" 2 Yuan ×2

The front depicts a lathe worker, with intricate background patterns. The condition of the two notes is approximately VF20 and F15 respectively, showing signs of use but intact.

3. Other circulating notes

Tractor 1 Yuan ×3, Yangtze River Bridge 2 Jiao ×4, Red Letter 1 Jiao ×5. These are in ordinary condition, with some individual notes showing damage.

Valuation and transaction

• Green Back with Watermark 1 Jiao (VF25): HK$28,000-35,000 → Quoted HK$30,000
• Lathe Worker 2 Yuan ×2 (VF20+F15): HK$4,500 + HK$2,800 = HK$7,300
• Other circulating notes combined: HK$1,500

The total quoted price for the batch was HK$38,800. Mr. Choi was somewhat surprised to hear this, saying he had no idea an old banknote could be worth thirty thousand dollars. The transaction was confirmed on the spot.

Do you have old Renminbi left by elders at home? Never treat them as waste paper. WhatsApp 98342057 to send photos, and Gu Jin Jian Bao will help you determine if there are any valuable varieties for free.