(t) CHINA--MILITARY. National Revolutionary Army. 1 Chiao, 1926. P-S3923.

(t) CHINA--MILITARY. National Revolutionary Army. 1 Chiao, 1926. P-S3923. S/M#K104-1. PMG Choice About Uncirculated 58 EPQ. Serial number A068337. Black on light blue, two peasants at centre, reverse brown, Chinese text, signed by Chiang Kai Shek. Issued for the Nationalist Army during the Northern Expedition. Estimate: $600 - $900. 民國十五年國民革命軍總司令部軍需券壹角。 編號A068337。淺藍底印黑色，中央為兩位農民，背面為棕色中文告示，帶蔣中正簽名。於北伐戰爭期間為國民革命軍發行。 (t) This lot was manufactured in China (including Hong Kong), Russia or Republic of Belarus and was sourced from outside the United States for this auction after tariffs were enacted by the United States. Accordingly, as of February 27, 2026, any client who wishes to take delivery of this item within the United States will be subject to a 7.5% import tariff for China manufactured items, and a 35% import tariff for Russia or Belarus manufactured items. In addition a processing fee of 0.3464% (minimum $33.58 / maximum $651.50) will apply. 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.

Estimation:€0.89

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