Watch List notes:

Peiyang Kin Fu (Jing Wu) Bank, $3, a uniface obverse and reverse pair of archival photographs, circa 1906, black and white, vertical format, Li Hong Zhang at upper centre, dockside scene at lower centre, the reverse shows Manchu and Chinese text, handwritte dates '14.5.06',(Pick S2505 for type), authenticated by PMG without a grading score. The Kin Fu bank never issued any banknotes with only 1-2 specimens sold by Spink at around 2012-2013. An extremely rare bank title and this pair of photographs unique (1 pair).

Estimate: 20000 - 30000