Watch List notes:

BANKNOTES, 紙鈔, CHINA - MILITARY ISSUES, 中國 - 軍事發行, Public Loan for the Military Requirements of the Republic of China 中華民國軍需公債: 5-Yuan, 2 February 1912, signature seals: Sun Yat Sen 孫中山 (President) and Li Yuan Hung 黎元洪 (Vice President), all twelve interest coupons intact (S P Ting T120-1). Folded in half and slightly ruffled corners, otherwise choice extremely fine, scarce.

Estimate: US$150-200