Watch List notes:

Chup Tai Chong, $50, specimen, Chao Cheng, 1912, vertical format, black and orange, peony flower at upper centre, perching birds within borders, reverse black, multiple peony flowers,PMG 62 Uncirculated (Selvedge Included, Previously Mounted). A nice high denomination note and a scarce place of issue.

Estimate: 8500 - 17000