Watch List notes:

China, Shanghai Province AI 5 Chiao (50 Cent) Token. Issued by Tong K. Wing of Shanghai, circa 1920-1924. SHANGHAI, CHINA, denomination within central circle; •TONG K. WING• above, SHANGHAI, CHINA below, all within toothed rim / Geometric design; toothed rim. 3.63g, 32mm.

Good Extremely Fine; some oxidation, toned.

From the inventory of a UK dealer.