Watch List notes:

Chung Hwa Republic, 1936 Military Issue.China, 1936, $10, S/M #C262-2, (Chinese Catalog Vol.14, Page 6 and Vol.15, Page 87), Choice VF-XF condition with small pin holes on left borders, Light brown border surround light blue flag on face, green border and flag on back. S/N 13048. Rare military related banknote.

Estimate: 6000 - 9000 HKD