Watch List notes:

TIBET: AR ¼ rupee, Chengdu mint, ND (1904-12), Y-1, L&M-362, Szechuan-Tibet trade issue, portrait of the Chinese emperor Guang Xu derived from the British Indian rupee of Queen Victoria // vertical rosette at center, Chinese inscription, si chuan sheng zao ("made in Sichuan"), branches with cusps and flowers around, a feature also derived from the reverse of British Indian rupees, a superb quality example! PCGS graded MS63.

Estimate: 1,000-1,200 USD