Watch List notes:

COINS, 錢幣, CHINA – MISCELLANEOUS, 中國 - 雜項, Tokens 代用幣: Aluminium 5-Chiao and $1 Token 代用幣, ND (1920s), Obv "5" and "1" within circle surrounded by "TONG K WING SHANGHAI CHINA", "N" in retrograde, Rev geometric design, 32mm and 38mm. Moderate oxidation, very fine.
(2pcs)

Estimate: US$100-120