Watch List notes:

CHINESE SOVIET REPUBLIC: AE 5 fen, ND (1932), Y-507.1, original strike, issue of the Kiangsi Soviet, reeded edge, detached island variety, adjustment marks, lovely brown color with satiny luster, very slightly bent, NGC graded UNC Details. The Chinese Soviet Republic is often referred to in historical sources as the Jiangxi Soviet (after its largest component territory, the Jiangxi-Fujian Soviet). It was established in November 1931 by future Communist Party of China leader Mao Zedong, General Zhu De and others, and it lasted until 1937.

Estimate: 150-200 USD