Watch List notes:

BANKNOTES. CHINA - PEOPLE’S REPUBLIC. People’s Bank of China: 5-Yuan, 1948, dark blue, junks at left, 20-Yuan, 1949, green, factory, bridge and steam passenger train at left (P 801, 821). Small tone spot in right margin of the 20-Yuan, otherwise both uncirculated.
(2pcs)

Estimate: US$300-400