Watch List notes:

BANKNOTES, 紙鈔, CHINA - REPUBLIC, GENERAL ISSUES, 中國 - 民國中央發行, Central Bank of China 中央銀行: Specimen 2-Chiao (20-Cents), ND (1949), red serial no.00000, pagoda, red "SPECIMEN" overprints on the back and two punch-hole cancellations (P 194s). In PCGS Currency holder graded 65PPQ Gem New.

Estimate: US$200-250