Watch List notes:

Frontier Bank, China, obverse and reverse proof for 100 yuan, 1925, no serial numbers or signatures,(Pick S2575p1, 2), PMG 62 NET (edge damage), 63 (paper pulls), Ex ABNC archive, these were not sold in the auction back in the 1990s. Scarce proof form without perforation or any overprints. Lovely large size note.

Estimate: 3000 - 5000