Watch List notes:

The Hongkong and Shanghai Banking Corporation, $10, uniface obverse and reverse colour trial progress proof, Shanghai, no date (type of 1904), purple on multicolour, bank arms at upper centre, '10' at upper left and right, reverse in blue and green, allegorical scene of cherubs 'Commerce',(Pick S360ct), both sides graded PMG 55 (Previously Mounted). Very rare and first time seen by the cataloguer.

Estimate: 35000 - 50000