Mercantile Bank’s final HK$100 note (Pick 245) was dated 4 November 1974. It was the last banknote the institution issued in Hong Kong before its operations were integrated into the HSBC group in 1980. Local collectors nicknamed the type 「揸叉」 — a reference to Britannia on the face holding a spear rather than the trident seen on some earlier Commonwealth designs.
The last Mercantile note
Pick P245 is the final Hong Kong banknote issued by Mercantile Bank before the institution was absorbed into the HSBC group in 1980. Dated 4 November 1974, it represents the end of a note-issuing lineage that had served Hong Kong since the nineteenth century.
About 400,000 notes were printed for the 1974 date. The nickname 「揸叉」 (spear-holding Britannia) distinguishes this type from the earlier map note and from HSBC’s trident-bearing Britannia motifs. Demonetized today, value depends almost entirely on grade and eye appeal.
Design compared with the map note
Where the earlier “map note” (Pick 244) placed the Hong Kong panorama on the face and Britannia on the back, the 1974 type reverses that arrangement: Britannia moves to the obverse and an aerial cityscape fills the reverse. The dragon watermark and TDLR printing remain, giving the two series a clear family resemblance despite the layout swap.
Issue data and market notes
- About 400,000 notes were printed for the 4 November 1974 date.
- The note has been demonetized; value today depends on grade, with uncirculated examples commanding a substantial premium over face.
- Many collectors pair the 1974 final issue with the 1964 map note as a two-piece Mercantile Bank modern set.