A 1951 China People's Republic 10,000 Yuan note led a sale of world currency at Heritage Auctions in Chicago on April 24-25, selling for $199,750.

Heritage commented on the lot prior to the sale: "This example issued in Inner Mongolia is quite simply the rarest note in the first series of Renminbi. About Uncirculated or higher examples, when they do come to auction, trade for the equivalent of $50,000 in China, with Very Fine examples at around $20,000."

The very fine 10,000 Yuan note was issued in Mongolia in 1951

The auction house went on to state it would be difficult to gauge the value of the note in the West as an example had not come to auction for over a decade.

Well now we know.

The impressive figure puts the note in the top echelon of Chinese banknotes, just below the 1908 Qing Dynasty $1 that made a world record $308,000 at a Chinese auction in 2011.

A 1928 Zanzibar Government 10 rupee note made $64,625.

The note is circulated, yet remains in exceptional condition with clear impressions and bold colouring.

Notes from the island are among the most desirable in all numismatics; there are thought to be less than 500 survivors of any date and denomination.

In 2012, a set of three Zanzibar notes made a combined $122,500 at Spink London.

We have an exceptional range of rare coins available.

If you're interested in collecting why not sign up to our free newsletter?