Watch List notes:

Bank of China, 1918 "Tsining / Shangtung" Issue Rarity.China, 1918, 1 Yuan, P-51? S/M#C294-100?, Listed in SCWPM as Tsingtao / Shangtung, this note is overprinted Tsining not Tsingtao. Orange on m/c, back orange, S/N 882295, Choice VG to Fine. Rarely seen at auction. ABNC.

Estimate: 3000 - 6000 HKD