China Asia Banking Corporation $100 (Biggest Note) Specimen Peking 1918 in PMG 64 (For sharing only)
For Sharing Only: Asia Banking Corporation one hundred dollars specimen Peking 1918 in PMG 64 (Choice Uncirculated) The image on the 1918 bill for the Asia Banking Corporation shown above depicted the old walls around Beijing, now gone; the image comes from a picture postcard, with a sky drawn in before engraving, to create a richer scene. “It’s not easy to engrave good skies". Statement and Postcard photo courtesy from NY Times.. During late Qing Dynasty, America started opening their banks in China following other Foreign powers. One of these American banks, Asia Banking Corporation (ABC) was established in 1918 with its China headquarters in Shanghai, to promote the export of United States goods to China. Additionally, ABC also established branches in Changsha, Hankow, Peking, and Tientsin: China's traditional commercial centers. ABC capitalization was in the amount of $4,000,000. ABC bank notes are in denominations of 1, 5, 10, 20, 50 and 100 dollars, utilized throughout China. $100 was ABC biggest denominations note at that time, which was worth tremendous buying power in 1918. In 1919, ABC severely disrupted the Shanghai market by excessive speculation in foreign exchange. Shortly after, ABC bank acquired the former Park-Union Foreign Banking Corporation. Unfortunately, ABC could sustain operations for the next few years before it was acquired and merged with the National City Bank of New York in 1924. It was known that all ABC circulated notes were redeemed, leaving only ABC Specimen Notes. And it is Rare to have ABC Specimen Notes at PMG 64 and above since these notes will be 100-years old soon!