Watch List notes:

National Commercial Bank Limited, 1 yuan, Shanghai, Year 12(1923), serial number 355987, black on multicolour, mandarin official at right, denomination at each corner, reverse gree, cockerel at left,(Pick 517a), PMG 35EPQ Choice Very Fine. An instantly recognisable and popular design that is seldomly encountered in the higher grades, especially with the highly coveted EPQ status!.

Estimate: 10000 - 15000