Watch List notes:

Republican China Military - Shanghai, Dated 9th Moon 4609 (1912 Issue), Issued banknote. China, $1, P-S3818a, S/M#C264-2a, Issued banknote, black on red-brown border and underprint, back blue, Red "Shanghai" written on middle, AU to Choice AU with one extremely light vertical fold in the center, Rare note that is missing from most advanced collections. First time seen by the cataloger.

Estimate: 14000 - 27000