Watch List notes:

Great Imperial Japanese National Bank, 20 Yen, ND (1917), convertible gold note issue, serial number {7} 720620, black on multicolour underprint, portrait of Sugawara Michizane at right, value at left, reverse Kitaro shrine at centre flanked by value,(Pick 37), very fine with slightly fraying edges, good for type and a rare note.

Estimate: 8000 - 16000