Watch List notes:

China, Foreign Enclaves. German-occupied Jiāozhōu (Kiau Chau) CU-NI 5 Cents. 1909. DEUTSCH•KIAUTSCHOU GEBIET, crowned imperial eagle with wings spread imposed on anchor; denomination across upper fields, date below / "Coin of the state of the great German [Empire]" in Hànzì. KM (Y) 1 (Kiau Chau). 3.03g, 18mm, 12h.

Extremely Fine. Rare.

Issued for use in the German Enclave of Kiau Chau in China.