Provenance: This and the following nine lots 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.

Apart from the usual small thin spots, soft edges and a single harder fold horizontally at center, all 10 are very nice and completely unrestored examples of what is often considered the earliest paper money in the world.