Watch List notes:

BANKNOTES, 紙鈔, CHINA - PUPPET BANKS, 中國 - 日偽傀儡銀行, Federal Reserve Bank of China 中國聯合準備銀行: $1, 1938, serial no.R0854254, green, Confucius at left, junks at lower centre right, dragon above (P J54a). Choice about uncirculated.

Estimate: US$400-500