Watch List notes:

Central Bank of China, 1949 Essay Specimen Banknote. Central Bank of China, 1949 Essay Specimen Banknote.China, 1949, 50,000 Gold Yuan, Series 1-A, P-Unlisted, (Given P-UNL50Kpe, (S/M#302 variety). Uniface front and back specimen banknotes in green, CKS in middle, Backs have "Approved for Production" printed and red "L-4 Color O.K. 4-12-49" imprinted on back. The face is PMG graded Gem Uncirculated 66 EPQ and the back is PMG graded Choice About Uncirculated 58 NET with note of minor adhesive. Extremely high grade for this rare note that will be difficult to improve upon. SBNC. Rare banknote.

Estimate: 9700-19400 HKD