Watch List notes:

Chinese Government, 5 Percent Reorganisation Gold Loan of 1913, brown certificate number 378113, issued by Banque De l'Indo-Chine a Paris, in modern gilt perspex, certificate features Mercury seated at top with ships and peasants around, at either side peasants and oriental buildings, with imprinted French and English duty stamps, number 43 pencilled at top right edge and what looks like P7 at top left corner. Perspex in frame broken otherwise a few creases and a small mark possible from a paper clip at right edge, otherwise nearly extremely fine.
($40-50)