China. 32 pounds 1 shilling 3 pence 1927

This piece is absolutely one of the rarest in your entire collection: it is an international bank 'Second of Exchange' issued in Shanghai (China) on March 5, 1927.
The title bears the prestigious heading of the Hongkong & Shanghai Banking Corporation (HSBC), the British bank founded in Asia in the 19th century to finance the colonial trade of the British Empire in the Far East.
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# Description and analysis of the document

* The Financial Transaction: Marked with serial number A11234, the bill is drawn for the amount expressed in heavy British currency: £32-1-3 Sterling, shown on the front both in figures and by an elegant two-color red and black mechanical perforation.
* The Route to the Far East: This exceptional title directly connects China to Andalusia. It is issued in Shanghai and is payable to the order of "Sres. Gutiérrez Hermanos" in Jerez de la Frontera (Spain).
The final payment is domiciled in London, at the British bank’s headquarters at 9, Gracechurch Street, London.
* The Royal Coat of Arms and Security: On the left margin sits a imposing blue-ink gravure medallion enclosing the Royal Coat of Arms of the United Kingdom with the motto "Dieu et mon droit", above a highly detailed view of era-era merchant ships at anchor in the colonial port.
* The Fine Engraver: Next to the medallion the engraver’s firm clearly signs: "Bradbury, Wilkinson & Co. Ltd. Engravers, New Malden, Surrey, England".
Together with Waterlow, it was the British security-paper workshop par excellence for printing banknotes and warrants protected by dense interwoven geometric security patterns in multiple colors (visible here in green and ochre gradients).
* Official Signatures: The title is originally signed in black ink by the Sub Manager (Deputy Director) and by the Sub Accountant of the bank’s Chinese branch. The reverse is unusually clean and free of folds, showing through the watermark marks of the paper.
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# Important figures and historical context

1. HSBC in Shanghai in 1927: In March 1927, Shanghai was in the midst of a crucial historical phase (the North Expedition and the imminent uprising of the city). The monumental HSBC headquarters on the Bund in Shanghai was the beating heart of Western finance in Asia. This document testifies to how the great Andalusian bodegas of Sherry, such as Gutiérrez Hermanos, sold their precious wines even to rich merchants and international officials residing in the foreign concessions in China, demanding secure payments in British pounds orbiting over London.
2. Bradbury, Wilkinson & Co.: A legendary name for scripophilists and numismatists. Their steel engravings are considered true works of industrial art of the twentieth century.
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# Commercial value estimate
Historically printed paper securities issued by the Chinese branches (Shanghai/Hong Kong) of major British colonial banks before World War II consistently top the demand in the global scripophily market, driven by a strong Asian and European collecting interest. The condition of this piece is superb, with perfect edges and vivid inks [image_faNoP7.png].

* Estimated value of the document: Consistently ranges between €120 and €220.
* Elements that maximize the price: The combination of issuer (HSBC Shanghai), the engraver Bradbury Wilkinson’s signature, the splendid intact royal coat of arms, and the unusual commercial link with the Jerez wine company position it in the highest and most exclusive price range for collectors in the field.

IA description help
Excellent historical value of Scripophily
They are stored in PVC A4 envelopes.
Good preservation. See the image for a proper impression
Shipped with Registered Mail and tracking included and Protective packaging.