Watch List notes:

Shen Fu Special Zone Anti Japanese People's Committee Bank, 5 chiao, 1936, red, 5 stars on the reverse with 'The World's Proletariat and the Repressed Unite Together' printed. This is the only note on which the words 'Anti Japanese' have been printed and is a great rarity in the Chinese Revolutionary currency,about extremely fine with water stain marks at upper and lower left. Very rare.

Estimate: HK$28,000 - HK$48,000