Watch List notes:

Bank of Communications, Proof Vignette Used on 1941 25 Yuan Note by ABNC. Bank of Communications, Proof Vignette Used on 1941 25 Yuan Note by ABNC. ND (ca. 1940-41), 4.5 x 4.5 inches, printed in black on india paper, vignette of Zeppelin-Airplane-Power Generator-Locomotive-Steamship used on 25 Yuan, P-160 Bank of communication note, Legend on bottom states "Power Transportation - V-70534 - American Bank Note Co.", AU to Uncirculated with a diagonal fold keeping it from CU. Rare production proof from this popular banknote series. ABNC.

Estimate: 1200-2300 HKD