Watch List notes:

Altai District, 1918 Current Circulating Silver Note Issue. Altai District, 1918 Current Circulating Silver Note Issue.1 Yuan, P-S2409J (S/M#O3-1), Issued banknote, Gray-violet, horse drawn wagon with people at center, Red oval overprint top middle, Red seals, back olive green with large red seal overprint, S/N 00224, PMG graded Very Fine 25, rare note seldom seen at auction with large even margins and firm paper with only a little rough handling on the right edge keeping this note from XF condition.

Estimate: 4700-9300 HKD