2017-09-21 Thu

This 1951 10,000 Yuan note is a rare, high-denomination banknote from the People’s Republic of China which was graded PMG AU 50 by Paper Money Guaranty. Experts believe that only 100 examples of this note exist and is the rarest type of 1951 First Series Renminbi (RMB). The note was not widely known to specialists before it was certified by PMG. It is also the finest PMG-certified example of this variety.

The 10,000 Yuan notes are also known as “Running Horses”. They were issued on 17th May 1951 and primarily circulated in Inner Mongolia Autonomous Region. The region is China’s third largest one covering 12% of its total land area. It was withdrawn from circulation on 1st April 1955.

China’s population in those days was almost 600 million people which is why there was a shortage of 1951 10,000 Yüan notes. The paper and printing were of low quality. 10,000 Yuan would be as much as $10,000 in today’s times. Hence, they were not saved by an average person when they were withdrawn. There was probably a limit to the original print run since the region’s population was only 1% of the country’s population. Due to its scarcity, 1951 10,000 Yuan notes are sold rarely and that too for impressive amounts.