Watch List notes:

Central Bank of China, Modern Printing Test for Hologram Security Using 1946 Banknote Reprint. 1946 (ca.1980's). 20 Cents, P-396, Unlisted Uniface Specimen back with sampans at anchor printed in brown with Hologram security strip on right side of note with the initials "KURZ" on it. Uncirculated condition. This note was printed by TDLR originally and this could possibly be a modern test by TDLR for security features using an older note printing plate they originally printed in 1946. TDLR. Scarce experimental banknote.

Estimate: 1000 - 2000