Watch List notes:

China. Union Preparation Bank. 20 Cents. ND. Pick -unlisted. Printer's Essay. Front designs - woman at left, dragon at right with intricate underprint and ornate borders. Rusted staple stain in outer gutter doesn't affect essay. PMG Gem Uncirculated 66 EPQ. An attractive and interesting piece. A similar essay in lesser grade realized $4,025 in a Hong Kong auction last year.

($3500-4000)