(t) CHINA--REPUBLIC. National Commercial Bank. 1 Yuan, 1.10.1923. P-517a. PMG About Uncirculated 55 EPQ.
Shanghai, serial number B6019238. Black and multicolour, Guan Zhong, Chancellor of the State of Qi, at right, reverse green, cockerel at left. A richly engraved note featuring Guan Zhong, Chancellor of the State of Qi during the Spring and Autumn Period. Fresh, striking colours and paper are seen throughout. Light circulation prevents this note form an almost certain gem assessment. A most delightful example.
From the South West Collection.

民國十二年浙江興業銀行壹圓。
上海，編號 B6019238，黑色為主調，輔以多色，齊相管仲像在右，背面綠色，左側公雞圖案。此鈔雕刻精美，肖像為春秋時期齊國丞相管仲。色彩鮮艷，紙張完好，僅有輕微流通痕跡，否則將獲得更高評級。 (t) On September 1, 2019, the United States enacted new tariffs on collector's items of Chinese origin, including bullion and numismatic coins and banknotes. This lot was manufactured in China and was sourced from outside the United States for this auction after the tariffs were enacted. Accordingly, any client who wishes to take delivery of this item within the United States will be subject to a 7.5% import tariff plus a processing fee of 0.3464% (minimum $31.67 / maximum $614.35). Please note, this is not, and is not intended to be, a complete description of the applicable import tariffs and buyer remains fully liable for and agrees to promptly pay all tariffs and fees relating to the import of these items into the United States and neither the auctioneer nor any consignor will have any responsibility to pay any applicable tariffs or fees. Please consult your tax adviser with any questions. Furthermore, any lots subject to an import tariff will be shipped directly from our Hong Kong offices and shipments to the United States will be subject to our international shipping chart.

Estimate: $2000.00 - $4000.00