Valuation of Old Banknotes from Sham Shui Po Uncle's Drawer: Are Third Series Renminbi Worth Anything? | Gu Jin Jian Bao
"Young man, I have a few old banknotes. Can you help me see if they're worth anything?" - I hear this question at least five or six times a month. In most cases, they're common circulating notes, worth a few tens of dollars each. But occasionally, there really are surprises.
Last week's uncle was a typical example. He lives in Sham Shui Po, is in his sixties, and has been a minibus driver for decades. After retiring, he was spring cleaning his house and found a red lai see packet behind the TV cabinet, with nine old banknotes inside. He took them to a gold shop, but they wouldn't take them. Then he went to a pawn shop, which offered HK$200 for the whole lot. The uncle wasn't happy, so he searched online and found Gu Jin Jian Bao.
"HK$200 for my nine notes? I'd rather burn them as offerings. Can you give them a proper look?" The uncle sat down and neatly laid out the nine banknotes.
Examining Each Note
The nine notes were arranged in descending order of denomination:
- Ten Yuan "Great Unity" ×1: The highest denomination of the third series of renminbi, with the image of "People's Representatives walking out of the Great Hall of the People" on the front. Condition VF, with soft folds but no damage. Buyback price HK$300-500.
- Five Yuan "Steel Workers" ×1: Image of steelworkers on the front. Condition F+, with signs of use. Buyback price HK$200-350.
- Two Yuan "Lathe Worker" ×1: One of the "kings" of the third series, with a lathe operator on the front. Condition VF25, bright color, few folds. Buyback price HK$3,500-5,000.
- One Yuan "Tractor" ×2: Common version, condition F. HK$80-120 each.
- Five Jiao "Textile Worker" ×1: Common version. HK$30-50.
- Two Jiao "Yangtze River Bridge" ×2: Condition VF. HK$50-80 each.
- One Jiao "Red Numeral" ×1: Common red numeral version, not the green back. HK$20-30.
Appraisal Result
The total quoted price for the nine notes was HK$4,800. The Two Yuan "Lathe Worker" alone accounted for over 70% of the value.
After hearing the appraisal, the uncle laughed heartily: "The pawn shop offered HK$200, and you guys are offering HK$4,800? That's more than 20 times the difference!" He made the deal on the spot, and before leaving, said he would bring his wife back to see if they had any other old items at home.
Never casually discard old banknotes as waste paper. WhatsApp 98342057 with photos, and Gu Jin Jian Bao will help you screen for collectible varieties for free.
