Watch List notes:

BANKNOTES, CHINA Republic. Bank of Territorial Development. Urga. 5-Dollars, 1915. Special Russian inscription design (Pick 574r; S/M C165-21). In PMG graded UNC-62 Net, Previously Mounted, the mounting traces are mainly on the top of the reverse and have caused a light crease on the top of the obverse while attempting to remove the note from the mounting, still a very attractive piece with vivid ink quality and a handsome example of this interesting multilingual issue.

Estimate: $ 2,800