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Auction: CSS123B - China Banknotes and Coins
Lot: 1126

(x) Kwangtung Provincial Treasury, China, 10 yuan, Year 12 (1923), serial number 034224, with various stamps,
(Pick S3903), PMG 64. PMG census with only 1 better. Issued to finance the Northern Expedition. The stamp at reverse stated that the note's face value will increase by 10% after one year, causing mass redemption, hence scarce.

Estimate
HK$6,000 to HK$8,000