Watch List notes:

Kwangtung Provincial Bank 1935 Emergency Issue Specimen.China, 1935, 20 cents, P-S2437s5. Emergency Issue. Brown Chinese text on top of face. Specimen banknote. Red specimen overprint, "00000" serial number and POC's. Large excess margin on the lower border with plate number and engraved title of plate, Gem Uncirculated condition. ABNC. Rare Emergency Issue that is only known as a specimen banknote.

Estimate: 4500 - 9000 HKD