1907年德华银行贰拾伍圆。 CHINA--FOREIGN BANKS. Deutsch-Asiatische Bank. 25 Dollars, 1.3.1907. P-4b. S/M#T101-43. PMG Very Fine 20. 青岛分行。青岛流通票，难得的贰拾伍圆面值。德华银行青岛分行发行的贰拾伍圆仅有本拍品及另一张样票。发行当时，青岛为德国控制下的战略港口城市，对地区贸易及军事存在影响深远。青岛于1898年租借予德国，并进行大量建设，包括现代基础设施的建造和港口设施的扩展。该系列的流通票难得一遇，多见戳记、经修补、撕裂或其他瑕疵。但本拍品全然倖免，原装品相甚至优于评分。出自享负盛名的Al Kugel集藏，重要之至的一件藏品，藏家万勿错过。PMG评级中流通票仅此一张。
Tsingtau branch. An exceptional fully issued note of the seldom-seen $25 denomination from Tsingtau, more commonly known as Qingdao. This and one other specimen are all that are graded for this denomination from this branch of the Deutsch-Asiatische Bank. At the time this note was issued, Qingdao was a strategic port city under German control, which had significant implications for regional trade and military presence. The city, having been leased to Germany in 1898, was undergoing extensive development, including the construction of modern infrastructure and the expansion of its harbor facilities. Issued notes of this series are few and far between, and they typically will feature chopmarks, repairs, tears or other issues. None of those impact the present example, with fantastic originality and appearance for the technical grade. A highly important offering from the famed Al Kugel Collection, not to be missed. This is the only issued example in the PMG population report. From the Al Kugel Collection.
