Watch List notes:

The People's Bank of China, obverse progressive proof 100 yuan, ND (1999), '5th series Renminbi', red and multicolour, Mao Zedong at right, missing the floral vignette stating 'Yi Bai Yuan' at lower left of centre and the green fluorescent '100' in the watermark area, serial numbers missing, watermark of Mao Zedong present, the reverse with underprint only with the building missing, reverse notably missing building and columns,(Pick 901pp1), An interesting printing production stage proof. PMG 53EPQ, extremely rare..

Estimate: 20000 - 40000