Watch List notes:

The Hongkong and Shanghai Banking Corporation, $5, specimen, Chefoo, 1.9.1922, serial number 00000, purple on yellow and pink, woman with loom at right, Bank arms at left, denomination at each corner, reverse similar colours, the old Bank building in Hong Kong and The Bund (Shanghai) respectively,(Pick-S316s), PMG 64 Choice Uncirculated. An excellent example of this rare note.

Estimate: 55000 - 75000