Watch List notes:

The Hongkong and Shanghai Banking Corporation, $10, Shanghai, 1.7.1904, serial number 135111, green on orange, Bank arms at upper centre, '10 at each corner, handsignd at lower left, reverse red, allegorical scene with cherubs at centre,(Pick S357), PMG 15 Choice Fine (Ink). A scarce Qing era note. Far less common than the issues of the 1910's.

Estimate: 4000 - 7000