Watch List notes:

BANKNOTES. CHINA - PROVINCIAL BANKS Pei Yang Tientsin Bank: 5-Taels, ND (c.1910), serial no.111688, red and green, dragons facing above, Li Hung-Chang with harbour view below, remainder (P S2523). A small area of peeling in top margin of obverse and hinge mark in lower margin of reverse, about uncirculated.

Estimate: US$700-900