Watch List notes:

American Oriental Bank, 1919 Shanghai Branch Issue Proof.Shanghai, China, 1919, $5, P-S97p S/M#S53-.03, Front and back proofs printed on india paper on large card, Dark green, light blue and m/c with steamship in circle in middle, back green, The notes would grade Gem Uncirculated but the back excess card, far from the design has a small tear. Rare as proof with only 4 front and backs found in the archives. ABNC.

Estimate: 6000 - 12000 HKD