World Currency
China Bank of the Northwest 20 Coppers 1.3.1925 Pick S3865a. A locally printed note for the warlord-controlled areas of the Northwest, this is a well-preserved example with wide margins and nice color. The catalog is correct, but there is no overprint for the Tsihar Hsing Yeh Bank seen on this example. PMG Choice Uncirculated 63.
Estimate: 100-150 USD