Watch List notes:

COINS, 錢幣, CHINA - PROVINCIAL ISSUES, 中國 - 地方發行, Chihli Province 直隸 (北洋): Brass Machine-struck Cash 黃銅機鑄制錢, ND (c.1900), Obv "光緒通寶", Rev "公平", probably struck by the Tientsin mint 天津廠 (cf 段洪剛著 中國銅元分類研究 no. 3899). Extremely fine and rare.

Estimate: US$600-800