Watch List notes:

Swatow Tchang Kia Fong Chong, 5 yuan, specimen, 1914, vertical format, dull green on orange underprint, facing cherubs at top, blue handstamped 'CANCELLED' and 'SPECIMEN', (Pick not listed), almost uncirculated, previously mounted with glue residues on the reverse, very unusual to find specimens of private/local banks Rare.

Estimate: £700 - £900