Watch List notes:

The Hongkong and Shanghai Banking Corporation, $5, 1.4.1940, DURESS NOTE, serial number H975190, vertical number 9,148, (Pick 173c), PMG 66EPQ Gem Uncirculated and a fabulous note. Pick 173c includes the duress notes of 1941 which is a far commoner date than 1940. A 1941 duress note was sold for HKD$50400 by Spink China in November and this note is far rarer. In the PMG population report there is only a single note graded higher in 67EPQ. It is unknown which date the 67EPQ note is but in terms of probabilty it is likley to be 1941 and therefore this note could be the highest grade for date! Rare and choice.

Estimate: $20,000.00 - $40,000.00