Provenance: This and the following five lots of what is often considered the earliest paper money in the world have been consigned by the grandson of the renowned Danish collector and engineer Sophus Black (1882–1960), who was stationed in China from 1902 to 1931. They have never been on the market since originally acquired by Sophus Black. Most of the known examples in the world today can actually be traced back to this collection, and in a market where counterfeits sadly seem to proliferate provenance has never been more important.

All examples are completely unrestored and in moderately fine condition with the usual flaws (thin spots, small holes, soft edges, horizontal fold etc.)