Watch List notes:

China: Bank of Communications, set with 4 banknotes, series 1927, with 1 Yuan – SHANGHAI (P.145Ac, XF/XF+), 1 Yuan SHANTUNG (P.145Ba, F/F+), 1 Yuan CHEFOO-SHANTUNG (P.145Bc, VF) and 1 Yuan TIENTSIN (P.145C, VF). Nice set! (4 pcs.)
[taxed under margin system]