Watch List notes:

The Mercantile Bank of India, $50, colour trial, no date (1912-30), blue, green and orange, vignette of junks and sampans on lake, '50' at each corner, blue Waterlow seal at lower left, reverse brown and black, Mercury at centre,(Pick 238ct), PMG 64 Choice Uncirculated. Rare and simply lovely.

Estimate: HK$200,000 - HK$300,000