Watch List notes:

SHANGHAI: 21/2 cent token, ND (1926), Numista-238524, TC-459864, 2nd series, C. G. O. CO. LTD / SHANGHAI // GOOD FOR / 2 1/2 CENTS, around "2 1/2" punched out at center, NGC graded MS63. The China General Omnibus Co. Ltd., was a British-owned bus company and was established in Shanghai in 1922. However, some sources of information state that the company was established in 1924. The company was registered in Hong Kong, but all of its business was done in Shanghai. The company was founded by J. A. Fredericks, a British citizen. The company's first line opened to the public in October of 1924. The first line was from the Bund to Jing'an Temple. The company introduced the second line in 1934 from Jing'an Temple to Hongkou Park.

Estimate: 75-100 USD