An extremely rare Chinese 'one hundred dollar' currency note Republic Period, dated 1942, signed by Mao Zedong, Zhu De, Huang Hua and Ma Haide
Lot 329
An extremely rare Chinese 'one hundred dollar' currency note
Republic Period, dated 1942, signed by Mao Zedong, Zhu De, Huang Hua and Ma Haide
Sold for HK$ 1,060,000 (US$ 136,769) inc. premium
Lot Details
An extremely rare Chinese 'one hundred dollar' currency note
Republic Period, dated 1942, signed by Mao Zedong, Zhu De, Huang Hua and Ma Haide
One side printed in Chinese and the other side in English, stating the value of 'one hundred' or yibai yuan, issued by the Bank of Shaan Gan Ning in 1942, illustrating the local council assembly hall on one side, the other portraying the pagoda mountain in Yanan, both sides within enclosed cartouches encircled by archaistic scrolls and leafy designs, one side impressed with two four-character zhuanshu seal marks and the print-run number 'W491884' twice in red ink, the surface signed with multiple signatures of the four Communist luminaries in black ink, all within a lacquered wood frame. 16.7cm wide. x 7.7cm high.


  • 民國三十一年(1942) 陝甘寧邊區銀行壹百元紙幣 毛澤東、朱德、黃華、馬海德簽名

    Provenance 來源:
    Paul C. Richards collection
    Herman Darvick Autographs, 6 August 1992, lot 200
    Herman Darvick Autographs, 19 April 1993, lot 257
    Sotheby's New York, 3 June 1997, lot 185
    Kenneth W. Rendell collection

    These currency notes issued by the Bank of Shaan Gan Ning border area in 1942 were in circulation for a very short period between 1941 and early 1943, where they were eventually recalled and exchanged for commercial currency on 1 July 1944 by the newly created Business bank from this liberated territory. Only a few rare specimens survive in private hands. The current lot is an extremely rare example as it bears the genuine authentic signatures of four Communist luminaries from this turbulent and historical era of multiple wars and revolutions. They are: Chairman Mao Zedong, Vice-Chairman Zhu De, Huang Hua and Ma Haide.

    Mao Zedong (1893-1976) was the Communist leader who took part in the 'Long March', became the chairman of the Communist party and subsequently the chairman of the new People's Government. Mao has signed his name twice on the current lot, both in Chinese characters and in Roman alphabets. So far, there appear to be no other known records or documents where Mao has signed his name in both writing forms next to each other.

    Zhu De (1886-1976) founded and commanded the Eighth Route Army (also known as the Red Army) in the United Front with the Nationalists against the Japanese. Zhu later established the People's Liberation Army as its first Commander-in-Chief. Zhu is considered one of the greatest military strategists and tacticians of the twentieth century, and he formed a very close political relationship with Mao by 1928.

    Huang Hua (1913-2010) was employed as a scribe and translator for the Red Army in 1936, serving in the northern areas of Shaanxi province assisting Edgar Snow and Ma Haide. Between 1941 and 1942, he served as the policy secretary for Vice-Chairman Zhu De and represented China in joining the Armistice negotiation ending the Korean War in 1953. He also accompanied Zhou Enlai as the counselor and spokesman for China at the Geneva Conference in 1954. Later he was posted as the Ambassador of China in Ghana, Egypt and Canada respectively between 1960 to 1971. Huang was also part of the three-member team negotiating with Henry Kissinger, the Nobel Peace Prize winner, regarding President Richard Nixon's visit to China. Huang became the first resident delegate of China to the United Nations and its Security Council. In 1976, he was made the Chinese Minister of Foreign Affairs before retiring in 1982.

    Ma Haide (1913-1988) was born George Hatem in Buffalo, New York, receiving his MD in 1933 from the University of Geneva and the American University in Beirut. Ma travelled to Shanghai to begin medical practice that same year, and by 1936 he travelled to Yanan with Edgar Snow and became Mao's personal physician. Ma became the first foreign member of the Chinese Communisty Party, and following the formation of the People's Republic of China, Zhou Enlai also assisted him in becoming the first foreigner granted citizenship of the new Republic. Ma received the Lasker Medical Award in 1986, for his lifelong devotion in eliminating Leprosy and reducing venereal disease in post-war China.

    The reverse side of the currency note also shows the two signatures of Lin Boqu and Zhu Lizhi. Lin Boqu or 'P.K. Ling' (1886–1960) ranked eighth in the Eighth Politburo of the Communist Party and he was appointed as the Economy Minister and Finance Minister in March 1934. Zhu Lizhi or 'L.Z. Chu' (1907-1978) was governor and director of the Shaanxi Gansu Ningxia bank.

    The current lot is believed to have been an important document in Ma Haide's personal possession. Ma carried the signed currency note wherever he went. It served as an official identification document allowing him safe passage during the Sino-Japanese War, which allowed him to travel without interference amongst the Communists and Nationalists (Kuomintang).

    此紙幣為最早為Paul C. Richards博士旧藏,先後分別在1992年8月6日及1993年4月19日於Herman Darvick Autographs售出,編號200及257。後又在1997年又於1997年6月3日在紐約蘇富比售出,編號185,最後為美國知名歷史信件及手稿鑑定師Kenneth W. Rendell收藏。


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  1. John Chong
    Specialist - Chinese Works of Art
    Suite 2001, One Pacific Place
    Hong Kong
    Work +852 3607 0013
  2. Xibo Wang
    Specialist - Chinese Works of Art
    Suite 2001, One Pacific Place
    Hong Kong
    Work +852 3607 0010