CONDITIONS OF SALE THE PLACING OF A BID SHALL CONSTITUTE ACCEPTANCE OF THESE CONDITIONS OF SALE BETWEEN BIDDER AND KELLEHER & ROGERS, LTD

CONDITIONS OF SALE THE PLACING OF A BID SHALL CONSTITUTE ACCEPTANCE OF THESE CONDITIONS OF SALE BETWEEN BIDDER AND KELLEHER & ROGERS, LTD BIDDING PLEASE NOTE: Bidders in this sale are required to provide a 25% deposit of the amount they intend to bid. Clients known to us with established credit will not be subject to this. If you have any question regarding this contact our office BEFORE the sale to confirm. 1. Unless announced otherwise by the auctioneer, all bids are per lot, as numbered in the printed Catalogue. Kelleher & Rogers (K&R), as agent for the consignor or vendor, shall regulate the bidding and shall determine the manner in which the bidding shall be conducted. K&R reserves the right to withdraw any lot prior to sale (without liability to any potential purchaser or agent), to re-offer any withdrawn lot, to divide a lot or to group two or more lots belonging to the same consignor or vendor, and to refuse any bid believed not made in good faith. Estimates of sales prices contained in the printed Catalogue reflect the best judgment of K&R and are not minimum or upset prices. 2. (a) Bids shall be made in the steps set forth on the bidding page (ii). (b) The highest bid acknowledged by the auctioneer shall prevail. Should a dispute arise between bidders (including a dispute between a floor or Internet bidder and the auctioneer acting on behalf of a mail bidder, consignor or vendor), the auctioneer alone shall determine who the successful bidder is and whether to reoffer the lot in dispute. Should a dispute arise after the sale, the auctioneer s sale records shall be conclusive. On all lots sold, a commission of 15% on the hammer price is payable by the buyer to the auctioneer together with any sales and use tax or customs duties. 3. (a) The auctioneer reserves the right to bid on behalf of clients (and consignors or vendors) but shall not be liable for errors and omissions in executing instructions to bid, however received, and whether such errors or omissions be those of the bidder or agent or those of the auctioneer. (b) Lots are offered subject to a reserve price. The auctioneer will implement such reserve price by bidding on behalf of the consignor vendor. (c) Purchases made by a consignor or vendor or his agent on his own lots shall be considered as a sale subject to commissions. PAYMENT FOR PURCHASES 4. Payment for lots, including those on which opinions are desired (Condition of Sale 7), shall be as follows: (a) Floor Bidders. Payment of the purchase price, or such part there of as K&R shall require, shall be made by the purchaser in cash or bank or certified check or in such other manner as K&R may determine. (b) Mail Bidders. A successful mail bidder will be notified of lots purchased. Before K&R will send such lots, payment in full must be received by K&R within three (3) business days of receipt of the aforesaid notification by the mail bidder. However, a purchaser known to K&R at its option may have purchases delivered or forwarded for immediate payment. Mailed delivery will be to the address on the bid sheet and proof by K&R of receipt of a sending at the advised address shall constitute delivery. 5. Title shall not pass to the purchaser until full payment has been received by K&R as agents for the consignor or vendor. 6. (a) Purchasers agree to pay for lots as specified in Condition of Sale 4 (or as the same may be modified by Condition of Sale 8), and no credit is extended; a late payment charge of 2% per month or fraction thereof shall be added if payment is not made in accordance with the aforesaid conditions. (b) In the event that a bidder shall fail to comply with these Conditions of Sale ( Non-Complying Bidder ), then, as to any lot with respect to which such failure to comply occurs, K&R, may, in its sole discretion, re-offer such lot during the same auction or at an auction at a later time, or by private treaty at such time as Dynasty Auctions, in its sole discretion, deems appropriate and the Non-Complying Bidder shall be liable for the deficiency, if any, between the hammer price and the net proceeds of a sale to a subsequent purchaser, whether at auction or by private treaty, as well as for all costs and expenses of both sales, all other charges due thereunder, including commissions with respect to both sales, whether payable to K&R or to a third party and all incidental damages. It shall be in K&Rs sole discretion to determine whether to re-offer the lot theretofore hammereddown to a Non-Complying Bidder at the same auction, or by private treaty in due course, or at a subsequent auction conducted by K&R. In no event shall any surplus arising from the sale of a re-offered lot be payable to a Non-Complying Bidder. (c) If K&R takes any legal steps to secure payment of a delinquent account, the defaulting purchaser shall be liable for all legal and other expenses incurred by K&R to secure such payment, including but not limited to a reasonable allowance for attorneys fees. For purposes of this paragraph, the term legal steps shall be deemed to include any and all consultation by K&R with its attorneys with respect to all matters arising out of a delinquent account. (d) Unless otherwise acceptable to K&R, payment is to be made only in the form of cash, bank check or certified check, personal check (which must clear prior to delivery of lots), or a bankwire transfer. (e) Additionally clients who elect to use credits cards as payment (Mastercard, Visa, American Express) or Paypal will be subject to a 2 % charge. WIRING INSTUCTIONS: Please contact us for our wiring instructions. EXHIBITION & INSPECTION OF LOTS; QUALITY & AUTHENTICITY 7. (a) See viewing schedule for on-premises viewing. Ample opportunity is given for on premises inspection prior to the auction date, and, upon written request and at K&R discretion. (b) Each lot is sold as genuine and correctly described, based on individual description as modified by any specific notations in this Catalogue. (c) Quality. Any lot which a purchaser considers to be incorrectly described may be returned to K&R within two weeks of its receipt by such purchaser ( Returning Purchaser ), provided, however, that the same is received by K&R within four weeks of the date of the auction; however, K&R may, in its discretion, refuse acceptance of such returned lot. If an opinion of a mutually acceptable authority is desired, the period of time within which a lot must be received by K&R will be extended in accordance with Condition of Sale 8. In the event that a dispute cannot be resolved by reference to a mutually acceptable authority, and K&R thereupon undertakes to re-offer the lot with a description identical to the description disputed, the Returning Purchaser shall be liable for the deficiency, if any, between the proceeds of the sale to the Returning Purchaser and the proceeds of a sale to a subsequent purchaser, as well as for all costs and expenses of the re-sale, including commission, and all incidental damages. Any lot, the description of which is disputed, must be returned intact and in the original packaging and in the condition received (unaltered) by the purchaser. The following lots are not returnable except at the discretion of K&R: (i) lots from purchasers who attended the exhibition of the lots; (ii) lots examined by postal viewers; (iii) lots on account of their appearance, if they are illustrated in this Catalogue; or (iv) lots described as having repairs, defects or faults for any reason. (v) lots containing more than ten (10) items. (d) Authenticity. Any lot which is declared otherwise than genuine by a generally recognized authority is returnable, provided such lot is received by K&R within four weeks of the date of the auction. Proof that a mutually acceptable authority declines to express an opinion is not grounds for the return of a lot. (e) Expenses incurred a purchaser in the submission and the return of a lot under Conditions of Sale 7 are not subject to refund. APPLICABLE LAW, JURISDICTION, ETC. The respective rights and obligations of the parties shall be governed and inerpreted by Hong Kong SAR law, and the buyer hereby submits to the non exclusive jurisdiction of the Hong Kong Courts. SPECIAL CONDITIONS Bids from Minors will not be accepted unless accompanied by a full cash deposit or suitable guarantee. The auctioneer will not be responsible for loss or damage to stamps or other items received inadequately housed or arranged. Lots purchased on behalf of postal bidders will be forwarded by the most practical means at the risk of the purchaser who will bear all costs involved. Lots will not be available for inspection or collection in the auction room. Successful purchasers should collect their purchases from our office. Lots bid on and bought in by a vendor will be regarded as sold and full commision will be payable. Buy or At Best bids are not accepted. All prospective purchasers should quote their maximum buying price. In the event of identical postal bids being received for any particular item, the bid received first in our office will be that which is accepted. BIDDING STEPS 12. Bidding Steps are as published on page (ii); bids made out of increment will be reduced to the next increment. Example: $603 bid will be reduced to $600, etc. BIDS BY TELEPHONE (a) Must be confirmed in writing unless waived by the auctioneer. (b) Any errors are the responsibility of the bidder. (c) No bids accepted less than 1 hour before the commencement of the sale. BIDS BY EMAIL Bids must be received 1 hour before sale commences be sure to use EMAIL: stamps@kelleherasia.com PHONE BIDDING DURING THE SALE Phone bidding space is limited and available on a first come, first served basis. The importance of reserving early cannot be overstated! Kelleher & Rogers, LTD Malaysia Building, 50 Gloucester Road, 9th Floor, Wanchai, Hong Kong Telephone: 852 3153 5541 Fax: 852 3153 5543

Stamps of The People s Republic of China Notice for Bidding in this sale: Bidders in this sale are required to provide a 25% deposit of the amount they intend to bid. Clients known to us with established credit will not be subject to this. If you have any question regarding this contact our office BEFORE the sale to confirm. 拍賣競投告示此拍賣競投者需支付有意競投物價目之百分之二十五作為訂金. 已在敝公司開立信貸戶口之客戶不需按此規定. 若閣下對此有任何疑問, 請於拍賣確認前與敝公司聯絡. Public Auction Sale 13 Sunday, 28 September 2014 Session 4-10:00 AM (Lots 2001-2696) Sale Location Malaysia Building, 50 Gloucester Road, 9th Floor, Wan Chai, Hong Kong Viewing & Inspection of Lots Viewing before Sept. 23, 2014 Viewing Sept. 23-25, 2014 Viewing Sept. 26-27, 2014 By Appointment at Hong Kong Office 50 Gloucester Road, 9th Floor 50 Gloucester Road, 9th Floor 10:00 AM - 6:00 PM 50 Gloucester Road, 9th Floor 10:00 AM - 6:00 PM Malaysia Building, 50 Gloucester Road, 9th Floor, Wan Chai, Hong Kong Telephone: 852 3153 5541 Fax: 852 3153 5543 stamps@kelleherasia.com US Office: 4 Finance Drive, Suite 100, Danbury, CT 06810 Telephone: +1 203.297.6056 Fax: +1 203.297.6059 kelleherasia.com

Table of Contents Session 5: People s Republic of China Sunday, 28 September 2014, beginning at 10:00 A.M. Liberated Areas Collections.................................................... 2001-2005.. Central China................................................... 2006-2008.. East China.................................................... 2009-2035.. North China................................................... 2036-2046.. North East China................................................. 2047-2054.. North West China................................................ 2055-2060.. Port Arthur & Dairen............................................... 2061-2065.. South China................................................... 2066-2067.. South West China................................................ 2068-2073.. People s Republic 1949-1967 C Series Commemoratives..................................... 2074-2189.. 1949-1966 S Series Commemoratives..................................... 2190-2282.. 1967-1970 W Series Commemoratives.................................... 2283-2348.. 1970-1974 N Series Commemoratives..................................... 2349-2395.. 1974-1991 J Series Commemoratives..................................... 2396-2465.. 1974-1991 T Series Commemoratives..................................... 2466-2609.. 2000 Year Order Series Commemoratives.................................. 2610-2612.. Definitive Issues................................................. 2613-2624.. 1950-1951 Surcharged Definitives........................................ 2625-2632.. Military Stamps.................................................. 2633-2635.. Booklets..................................................... 2636-2644.. Collections.................................................... 2645-2668.. Year Sets..................................................... 2669-2673.. Postal History.................................................. 2674-2696..

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Management and Staff Laurence Gibson - Co Director lgibson@kelleherauctions.com David M. Coogle - Co Director dcoogle@kelleherauctions.com Michael Rogers - Director of Aquisitions mrogers@kelleherauctions.com Richard Sarge Ostlie - rostlie@kelleherauctions.com Kelleher & Rogers, Ltd. is a division of

Session 5 Sale 13 Sunday, September 28, 2014 Beginning at 10:00 AM At our offices in Wan Chai Lots 2001-2696 People's Republic of China

LIBERATED AREAS: Collections Liberated Areas Collections 2001 Lovely All Mint Col lec tion, 1945-51. Housed in a sin gle Scott al bum. Mostly in com plete sets with good value to be found in clud ing 1L37-40, 1L121-24, 1L136-38, 1L162-63, 2L3-8, 2L36, 2L68, 2L69, 2L70-71, 5L1-9, 6l17-32 and 8L1-11. Clean, fresh and, Very Fine (photo on web site). Estimate HK$ 25,000-30,000 2002 / Ex cel lent Al most All Mint Scott-Listed Col lec tion. As sem bled in mounts on Fi del ity pages, be gin - ning with good NE prov inces is sues like Scott 1L17-19, 24-26, 27-29, 30-36, 41-44, 51-54, 121-24, the un is sued $50,000 green Gate is sue, 176-78, plus re prints com plete less one stamp then on to 2L72-76, 3L77-81 perf and imperf, 82-88, 4L23-24, 45-47, 5L51-53, 53a, good Cen tral China, 8L1-11, 43-47 and much more. Nice lot, fresh, ex am ine, Fine to Very Fine (photo on web site). Estimate HK$ 12,000-16,000 2003 ( ) Un used Col lec tion, 1947-49. Mounted on Fi del ity al bum pages, in clud ing North east China 1947 (1L37-38 & 1L42-44), 1947 (1L71), 1948 (1L95-97), plus sev eral re prints in sets; 1950; North China 1949 (3L82-88). We also noted North west China; East China; Cental China & South west China sets and part sets. Rec - om mended for dealer or col lec tor alike, Fine to Very Fine (photo on web site). Estimate HK$ 2,000-2,500 2004 / Small but Use ful Ac cu mu la tion of Var i ous Odds and Ends. Com prised of a cou ple hun dred on al - bum pages and a cou ple of coun ter book pages, gen er ally very clean and fresh, ex am ine, over all Fine to Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2005 ( ) Un used Col lec tion, 1947-49. In a Fi del ity al bum, in clud ing Port Ar thur & Dairen 1949 (2L68); North China 1949 (3L42); North east China 1947 (1L30-36 & 1L41-44), 1948 (1L81-83 & 1L95-97), 1949 (1L121-24) & 1950 (1L162-63); plus 1950 (1L150-53 & 1L157-61, re prints). Rec om mended for fur ther ex pan sion, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,400-1,600 Central China 2006 ( )a Cen tral China, 1949 (July), Star En clos ing Map of Hankow com plete (Yang CC70//77. Scott 6L48-6L56), mar gin blocks of 4, with out gum as is sued. Estimate HK$ 2,000-3,000 2 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

LIBERATED AREAS: Central China - East China 2007 2008 2007 Cen tral China, 1949 (Au gust 16), $500 Lib er a tion, im per fo rate be tween (Yang CC143 var. Scott 6L61 var.), ver ti cal pair and mar gin, rare and unlisted. Estimate HK$ 2,000-3,000 2008 ( ) Cen tral China, 1949, Wan-An Over print Peo ple s Post on SYS Sil ver Unit Plum Blos som is - sues (Yang LCC56-59), with out gum as is sued, fresh, Very Fine, rare set. Estimate HK$ 3,000-4,000 East China 2009 2010 2011 2009 ( ) East China, 1942, Shan tung 2nd War time Post, 1 ver mil ion and 2 green, on news print (Yang EC5, 7a), with out gum as is sued, both extreamly fresh with biight bold col ors, Ex tremely Fine. Estimate HK$ 800-1,200 2010 ( ) East China, 1942, Shan tung 2nd War time Post, 1 yel low, thin pa per (Yang EC6), with out gum as is sued, Very Fine for this. Estimate HK$ 9,000-11,000 2011 ( ) East China, 1942, Shan tung 2nd War time Post, 5 light blue and 5 dark blue (Yang EC8b, 8d), with out gum as is sued, Very Fine. Estimate HK$ 800-1,200 www.kelleherasia.com Sale 13 - Sep. 28, 2014 3

LIBERATED AREAS: East China 2012 2013 2014 2015 2016 2012 East China, 1942, Shan tung 2nd War time Post, 5 pale blue (Yang EC8c), lightly can celed, Very Fine. Estimate HK$ 2,500-3,000 2013 ( ) East China, 1942, Shan tung 2nd War time Post, 10 yel low (Yang EC9a), with out gum as is sued; mi nor clipped cor ner, oth er wise Very Fine. Estimate HK$ 6,000-7,000 2014 ( ) East China, 1942, Shan tung 2nd War time Post, 50 red brown (Yang EC11b), with out gum as is - sued, Ex tremely Fine. Estimate HK$ 2,000-2,600 2015 ( ) East China, 1944, Shan tung War time Post, Chair man Mao, 10 blu ish green (Yang EC20), with out gum as is sued, fresh mint, Very Fine. Estimate HK$ 1,400-1,800 2016 East China, 1944, Sur charge on War Time Post, Chair man Mao, $5 on 50 brown (Yang EC30a), Very Fine. Estimate HK$ 900-1,300 2017 2018 2019 2020 2021 2017 ( ) East China, 1945, Shan tung War Time Post, Chu Teh, 50 gray green, perf 10 (Yang EC54), with - out gum as is sued, fresh and Very Fine, a splen did ex am ple of this ex cep tion ally scarce value. Estimate HK$ 2,000-2,500 2018 East China, 1945, Sur charge on War time Post, Chu Teh, 50 on 10 green (Yang EC64), used, Very Fine. Estimate HK$ 800-1,000 2019 ( ) East China, 1945-49, Tem po rarily Used For on Chu Teh, $50 on 10 green, per fo rated with handstamp sur charge (Yang EC75), with out gum as is sued, Fine to Very Fine. Estimate HK$ 1,000-1,500 2020 ( ) East China, 1942, Ching-Ho Area, 5 deep blue (Yang EC159a), with out gum as is sued, Very Fine. Estimate HK$ 1,000-1,500 2021 ( ) East China, 1943-45, Ching-Ho Area, 10 on 1 ver mil ion, blue sur charge (Yang EC163a), with out gum as is sued; nat u ral pa per flaw, Fine to Very Fine. Estimate HK$ 1,000-1,500 4 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

LIBERATED AREAS: East China 2022 ( ) East China, 1947, Ching-Ho Area, $800 on $20 vi o let, imperf be tween (Yang EC176c), hor i zon tal strip of 4, with out gum as is sued, Very Fine. Estimate HK$ 800-1,000 2023 2024 2025 2026 2023 ( ) East China, 1946, Bohai Post Is sue, Chu Teh, $5 green, imperf (Yang EC178), with out gum as is - sued, Fine to Very Fine. Estimate HK$ 1,000-1,500 2024 ( ) East China, 1946, Bohai Post Is sue, Chu Teh, $10 green, imperf, un is sued (Yang EC179), with out gum as is sued, Fine to Very Fine. Estimate HK$ 4,000-4,500 2025 ( ) East China, 1946, Bohai Post Is sue, Chu Teh, $10 blue with round and square 0 (Yang EC180, 180a), with out gum as is sued, Very Fine. Estimate HK$ 2,000-3,000 2026 ( ) East China, 1944, Yan-Fun 3rd Is sue with Value In di cated, 5 yel low green (Yang EC247), with out gum as is sued, Very Fine. Estimate HK$ 3,000-3,500 2027 ( ) East China, 1944, Su-Chung 4th Print Unit Is sue With out Value on Hawk De sign, with out over - print char ac ter (Yang EC269a), with out gum as is sued, fresh, Very Fine, rare, a Gem! 2006 APS photo cer tif i cate. Estimate HK$ 18,000-22,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 5

LIBERATED AREAS: East China 2028 ( ) East China, 1945, Su-Chung Sur charges on In ter nal Use stamps (Yang EC276, 277, 279), with - out gum as is sued, Very Fine. Estimate HK$ 1,000-1,500 2029 ( ) East China, 1946, Su-Wan Bor der Area, Train Is sue, $10 pur ple (Yang EC328), with out gum as is - sued, fresh with nice even mar gins, Very Fine, scarce. Estimate HK$ 3,000-4,000 2030 ( )a East China, 1949, Shan tung Com mu nist Postal Ad min is tra tion, $5 dull brown, dou ble over print (Yang EC365a. Scott 5L13b), sheet of 100, with out gum as is sued, never hinged, Fine to Very Fine (photo on web site). Estimate HK$ 2,000-3,000 2031 ( ) East China, 1949, Shantung Communist Postal Administration, imperf complete (Yang EC373-383), with the $5 value made up of with out overprin t(2) and small over print in black, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2032 / East China, 1949, Lib er a tion of Nan king and Shang hai com plete (Yang EC427-435), with a num - ber of du pli cates, mint or used, plus a use ful range of va ri et ies com prised of $1 hor i zon tal strip of 3 imperf at left mar - gin and be tween left and mid dle stamp, $5 imperf ver ti cal pair and $50 block of 6 on news print as well as a se lec tion of 5 items with mis placed perfs, with out gum as is sued, Fine to Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2033 ( )a East China, 1949, San Yick Print, Chair man Mao, $150 brown ish or ange (Yang EC453. Scott 5L86), com plete sheet of 200 with full off set on back, with out gum as is sued, Fine to Very Fine (photo on web site). Estimate HK$ 800-1,000 2034 East China, 1949, An-King lo cal hand sur charges on Map com plete (Yang ECL44-45), Very Fine. Estimate HK$ 1,500-2,000 6 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

LIBERATED AREAS: North China North China 2035 2036 2037 2038 2035 ( ) North China, 1938, Chin-Cha-Ki Bor der Area, White Full Sun, First Print, 1 dull pur ple on brown paper (Yang NC3), with out gum as is sued, Very Fine. Estimate HK$ 1,000-1,500 2036 ( ) North China, 1946, Vic tory (Small Sized), $50 red, imperf (Yang NC35b), with out gum as is sued, Fine to Very Fine. Estimate HK$ 800-1,000 2037 ( ) North China, 1943, Chin-Ki-Lu-Yu Bor der Area, 5 on 10 deep blue (Yang NC168), with out gum as is sued, huge even mar gins, Ex tremely Fine. Estimate HK$ 1,500-2,000 2038 North China, 1946-47, Chin-Ki-Lu-Yu Bor der Area, Bird on Globe, Large Char ac ter Sur charge, $2 on 5 (50 ) deep blue (Yang NC212), used, wide mar gins, Fine to Very Fine. Estimate HK$ 1,500-2,000 2039 2040 2041 2042 2039 ( ) North China, 1947, Chin-Ki-Lu-Yu Bor der Area, Mao and Har vest De sign, $80 gray-brown, perf 10 (Yang NC237a), with out gum as is sued, Very Fine. Estimate HK$ 1,000-1,500 2040 ( ) North China, 1947, Chin-Ki-Lu-Yu Bor der Area, Mao and Har vest De sign, $500 light blue, perf 10 (Yang NC240a), with out gum as is sued, Fine to Very Fine. Estimate HK$ 1,500-2,000 2041 ( ) North China, 1947, Chin-Ki-Lu-Yu Bor der Area, Vic tory Over Ja pan, $20 rose red, rough perf type (Yang NC241a), with out gum as is sued, fresh and scarce, Fine to Very Fine. Estimate HK$ 1,500-2,000 2042 North China, 1949, Peo ple s Post, Bird on Globe, $5 on 5 (50 ) deep blue (Yang NC315), used, Very Fine. Estimate HK$ 2,000-3,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 7

LIBERATED AREAS: North China - North East China Ex 2043 2044 2043 North China, Par cel Post, 1949, Tien tsin Sur charge on Money Or der Stamps com plete (Yang NCP17-26), Fine to Very Fine. Estimate HK$ 800-1,200 2044 North China, Par cel Post, 1949, Tien tsin Sur charge on Money Or der Stamp, $100 on $10 green, in verted sur charge (Yang NCP22a), o.g., never hinged, Very Fine. Estimate HK$ 800-1,200 Ex 2045 2045 ( ) North China, Par cel Post, 1949, Tien tsin hand sur charge on Pe king Cen tral Print High way De - sign com plete (Yang NCP27-30), with out gum as is sued, Fine to Very Fine. Estimate HK$ 4,000-5,000 North East China 2046 ( ) North East China, 1947, 10th An ni ver sary of the Start of Sino-Jap a nese War sou ve nir sheet (Yang NE68M. Scott 1L44a), with out gum as is sued, lovely Very Fine ap pear ance. Estimate HK$ 1,500-2,000 8 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

LIBERATED AREAS: North East China 2047 2048 2050 2051 2047 ( ) North East China, 1947, Antung First Print, Chu Teh, $20 on $1 deep blue (Yang NE261), with out gum as is sued, Very Fine. Estimate HK$ 1,500-2,000 2048 ( ) North East China, 1947, Antung Hand Sur charge on First Print, Chu Teh, $20 on $1 deep blue (Yang NE262), with out gum as is sued, Very Fine. Estimate HK$ 1,500-2,000 2049 ( ) North East China, 1947, Antung 2nd Print, two dif fer ent (Yang NE281, NE283), com prised of a sin - gle $30 in blue on $10 and two $100 on $10, with out gum as is sued, Fine to Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2050 ( ) North East China, 1947, Antung 2nd Print, Mao and Chu Teh, $30 on $10 rose red (Yang NE281), with out gum as is sued, Fine to Very Fine. Estimate HK$ 2,500-3,000 2051 ( ) North East China, 1947, Antung 2nd Print, Mao and Chu Teh, $30 on $10 rose red (Yang NE281), with out gum as is sued, Fine to Very Fine. Estimate HK$ 2,500-3,000 2052 2053 2054 2052 ( ) North East China, 1947, Antung 2nd Print, Mao and Chu Teh, $100 on $10 rose red, over print in - verted (Yang NE283a), with out gum as is sued, Fine to Very Fine; ac com pa nied by Ex perts and Cunsultants photo certificate. Estimate HK$ 1,800-2,200 2053 ( ) North East China, 1948, Liao Nan hand sur charge on Antung Chu Teh and Mao, 2nd print, $100 on $10 rose red on gray news pa per (Yang NE297), with out gum as is sued, Very Fine. Estimate HK$ 2,000-2,500 2054 North East China, 1948, Liao Nan hand sur charge on Antung Chair man Mao, 2nd Print, $20 on $5 gray green (Yang NE298), Fine to Very Fine. Estimate HK$ 1,500-2,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 9

LIBERATED AREAS: North West China North West China Ex 2055 2056 2055 ( ) North West China, 1946, Yen-An Pa goda, First Print com plete, imperf (Yang NW1-5. Scott 4L1-4L5), with out gum as is sued, Very Fine. Estimate HK$ 1,000-1,500 2056 ( ) North West China, 1946, Yen-An Pa goda, First Print com plete, rouletted (Yang NW6-8. Scott 4L1a-4L3a), with out gum as is sued, Fine to Very Fine. Estimate HK$ 1,000-1,500 2057 ( ) North West China, 1947, Yen-An Pa goda, Large Char ac ter Yuan, $30 on $1 green (Yang NW13. Scott 4L7a), with out gum as is sued, Fine to Very Fine (photo on web site). Estimate HK$ 1,200-1,600 Ex 2058 2059 2058 ( )a North West China, 1949, Peo ples Post Shensi over prints on Dr. Sun Yat-sen is sues com plete (Yang NW42-52. Scott 4L34-4L44), blocks of 4, many with sel vage, with out gum as is sued, Very Fine. Estimate HK$ 2,000-3,000 2059 ( ) North West China, 1949, Sinkiang hand sur charge Peo ple s Post on Pe king Views and U.P.U. (Yang NW92-94), with out gum as is sued, Very Fine. Estimate HK$ 1,000-1,500 2060 ( ) North West China, 1949, Wei Nan hand sur charge on Dr. Sun Yat-sen, $500 green (Yang NWL3), with out gum as is sued, fresh, Very Fine, an ex cep tion ally rare stamp. Estimate HK$ 2,500-3,000 10 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

LIBERATED AREAS: Port Arthur & Dairen Port Arthur & Dairen 2061 2062 2063 2061 Port Ar thur & Dairen, 1948, $100 on An ni ver sary of Jap a nese Em pire Bird Is sue (Yang AD34. Scott 2L38), postally used, scarce thus, Fine to Very Fine. Estimate HK$ 3,200-4,000 2062 Port Ar thur & Dairen, 1948, $10 and $50 Rus sian Rev o lu tion sur charges (Yang AD38-39. Scott 2L45-46), postally used, Fine to Very Fine. Estimate HK$ 2,400-3,000 2063 Port Ar thur & Dairen, 1948, Kwantung Ag ri cul tural and In dus trial Ex hi bi tion, $10 on 2f yel low green (Yang AD43. Scott 2L48), o.g., never hinged; short up per right cor ner perf, Fine. Estimate HK$ 1,600-2,000 Ex 2064 2064 ( ) Port Ar thur & Dairen, 1950, Gate of Heav enly Peace com plete (Yang AD69-73. Scott 2L72-76), with out gum as is sued, strong color and cen ter ing, Very Fine. Estimate HK$ 2,000-2,500 2065 Port Ar thur & Dairen, 1950, LuShun-Dalian Area sou ve nir folder (Yang LDS B2), in clud ing Port Ar - thur is sues, Scott 2L68, 2L70-71, 2L59, 2L69 2L60, 2L57, 2L53-56 and 2L72-76, very nice qual ity for this scarce book let, fresh, Very Fine. Estimate HK$ 5,000-6,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 11

LIBERATED AREAS: South China South China 2066 2067 2066 ( )a South China, 1949 (No vem ber 9), Lib er a tion of Swatow, handstamped sur charges (Yang SC11-13. Scott 7L6a-7L8a), blocks of 4, with out gum as is sued. Estimate HK$ 5,000-6,000 2067 ( ) South China, 1949 (No vem ber 12), $1 and $10 Fly ing Geese over printed Lib er a tion, Tem po - rarily Used For set of two (Yang SC25-26. Scott 7L17-7L18), with out gum as issued. Estimate HK$ 2,000-3,000 South West China Ex 2068 2068 S South West China, 1950, Map, im per fo rate set with blue or red two-char ac ter Spec i men over - print (Yang SW12-55. Scott 8L17), with out gum as is sued, Very Fine, very rare. Estimate HK$ 1,500-2,000 2069 2069 ( ) South West China, 1950, Map, $300 on $20 and $300 on $100, im per fo rate be tween (Yang SW18b, 19a. Scott 8L32a, 8L33a), hor i zon tal pairs, with out gum as is sued, Fine to Very Fine and scarce. Estimate HK$ 2,000-3,000 12 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

LIBERATED AREAS: South West China Ex 2070 2070 ( ) South West China, 1949, Hand Sur charge on March ing of Peo ple s Lib er a tion Army, with new val ues (Yang SW28-31. Scott 8L28-29), com plete set of 6 hor i zon tal pairs show ing wide and nar row spac ing va ri - et ies, with out gum as is sued, Very Fine, scarce set. Estimate HK$ 2,000-2,500 2071 South West China, 1950, $150 on $200 light blue, sur charge in pur ple (Yang un listed. Scott 8L29 var.), hor i zon tal pair show ing both spac ings, Chung king c.d.s. and par tial red tran sit c.d.s., Fine to Very Fine, Ex. Padget. Estimate HK$ 1,500-2,000 2072 ( ) South West China, 1949, Kwang-Yuan Peo ple s Post hand over print on $100 an $200 Sav ings Stamps com plete (Yang LSW8-9), hor i zon tal pairs, with out gum as is sued, fresh, rare mul ti ples, Very Fine. Estimate HK$ 6,000-7,000 2073 ( ) South West China, 1950, Kiang-Lai hand sur charged Lo cal Is sue, $300 on $50 (Yang LSW51), with out gum as is sued, fresh, Very Fine, rare. Estimate HK$ 3,000-4,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 13

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives People s Republic 1949-1967 C Series Commemoratives 2074 ( )a 1949, 1st Ses sion of Peo ple s Po lit i cal Con sul ta tive Con fer ence (C1) com plete (Scott 1-4), a mag nif i cent set of com plete sheets of 100, neatly folded once through perfs at cen ter, a re mark able & rare set of sheets, with full clean mar gins, with all but the $50 dol lar value matched sheet #257 ex am ples, with out gum as is - sued, pris tine and choice, Very Fine. Estimate HK$ 30,000-40,000 A show piece set of sheets of the first is sue of the Peo ple s Re pub lic of China. 14 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2075 ( )a 1949, 1st Ses sion of Peo ple s Po lit i cal Con sul ta tive Con fer ence (C1) com plete (Scott 1-4), a splen did set of com plete sheets of 100, neatly folded once through perfs at cen ter, $200 with mi nor perf sep a ra tions at top mar gin only, in cred i bly fresh with sharp cor ners & good mar gins, with out gum as is sued, Very Fine and rare. Estimate HK$ 30,000-40,000 A won der ful set of sheets of the first is sue of the Peo ple s Re pub lic of China. www.kelleherasia.com Sale 13 - Sep. 28, 2014 15

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2076 ( )a 1949, 1st Ses sion of Peo ple s Po lit i cal Con sul ta tive Con fer ence (C1) and Trade Un ion Con fer - ence (C3), both com plete (Scott 1-4, 5-7), nice group com prised of C1 blocks of 4, first 3 val ues with im prints, and C3 blocks of 4, with out gum as is sued, fresh, Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2077 ( )a 1949, 1st Ses sion of Peo ple s Po lit i cal Con sul ta tive Con fer ence (C1) com plete (Scott 1-4), cor ner mar gin blocks of 40 with two im prints, with out gum as is sued; folded once along perfs, Very Fine (photo on web site). Estimate HK$ 6,000-8,000 2078 ( )a 1949, 1st Ses sion of Peo ple s Po lit i cal Con sul ta tive Con fer ence (C1) com plete (Scott 1-4), cor ner mar gin blocks of 40 with two im prints, with out gum as is sued; folded once along perfs, $50 mar gin in scrip tion, Very Fine (photo on web site). Estimate HK$ 6,000-8,000 2079 ( )a 1949, 1st Ses sion of Peo ple s Po lit i cal Con sul ta tive Con fer ence (C1) com plete (Scott 1-4), bot - tom half sheets of 50 ex cept $100 up per half with sheet #, each with two im prints, with out gum as is sued; neatly folded once, one sin gle $100 value ink spot, oth er wise Very Fine, rare (photo on web site). Estimate HK$ 8,000-10,000 2080 ( )a 1950, Peo ple s Po lit i cal Con fer ence (C2) com plete (Scott 8-11), mar ginal blocks of 40, $50 and $100 with sheet num bers and im prints, with out gum as is sued; neatly folded one through perfs, Very Fine, Rare (photo on web site). Estimate HK$ 8,000-10,000 2081 ( )a 1950, Peo ple s Po lit i cal Con fer ence (C2) com plete (Scott 8-11), com plete sheets of 80 with full mar - gins. In cludes sheet num bers and im prints as is sued, with out gum as is sued; one vlaue on $50 and $100 sheets light cor ner bend, Very Fine, rare (photo on web site). Estimate HK$ 1,500-2,000 2082 ( )a 1950, Peo ple s Po lit i cal Con fer ence (C2) com plete (Scott 8-11), block of 4, 14 sets, in blocks of 4 and 10, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2083 2084 2083 ( ) 1949, 1st Ses sion of Peo ple s Po lit i cal Con sul ta tive Con fer ence, N.E. Use (C2NE), $1500 deep blue (Scott 1L137), with out gum as is sued, fresh choice ex am ple, Su perb; 2013 PSE cer tif i cate, graded Superb 98. Estimate HK$ 500-600 2084 ( ) 1949, Globe and Ham mer for use in the North East (C3NE) com plete (Scott 1L133-1L135), with out gum as is sued, fresh and scarce, Very Fine. Estimate HK$ 18,000-22,000 16 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2085 ( ) 1949, Globe and Ham mer for use in the North East (C3NE) com plete (Scott 1L133-1L135), with out gum as is sued, fresh and scarce; $5,000 with tiny, mar ginal nat u ral pa per in clu sion, Very Fine. Estimate HK$ 18,000-22,000 Ex 2086 Ex 2087 Ex 2088 Ex 2089 Ex 2090 2086 ( ) 1950, In au gu ra tion of the Peo ple s Re pub lic (C4) com plete (Scott 31-34), orig i nal print, with out gum as is sued, bright, Very Fine. Estimate HK$ 1,600-2,000 2087 ( ) 1950, In au gu ra tion of the Peo ple s Re pub lic (C4) com plete (Scott 31-34), with out gum as is sued, Very Fine. Estimate HK$ 1,600-2,000 2088 ( ) 1950, In au gu ra tion of the Peo ple s Re pub lic (C4) com plete (Scott 31-34), with out gum as is sued, Very Fine. Estimate HK$ 1,600-2,200 2089 ( ) 1950, In au gu ra tion of the Peo ple s Re pub lic (C4) com plete (Scott 31-34), in sheet mar gin sin gles, with out gum as is sued, Fine to Very Fine. Estimate HK$ 1,600-2,000 2090 ( ) 1950, In au gu ra tion of the Peo ple s Re pub lic (C4) com plete (Scott 31-34), with out gum as is sued, Very Fine. Estimate HK$ 1,600-1,800 www.kelleherasia.com Sale 13 - Sep. 28, 2014 17

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives Ex 2091 Ex 2092 Ex 2093 Ex 2094 2091 ( ) 1950, In au gu ra tion of the PRC for Use in the North east (C4NE) com plete (Scott 1L150-1L153), matched right mar gin sin gles, with out gum as is sued, pris tine, Very Fine. Estimate HK$ 4,000-5,000 2092 ( ) 1950, In au gu ra tion of the PRC for Use in the North east (C4NE) com plete (Scott 1L150-1L153), orig i nal print, with out gum as is sued; low est value small cor ner crease, Fine to Very Fine. Estimate HK$ 3,000-4,000 2093 ( ) 1950, In au gu ra tion of the PRC for Use in the North east (C4NE) com plete (Scott 1L150-1L153), with out gum as is sued, Very Fine. Estimate HK$ 3,000-4,000 2094 ( ) 1950, 1st An ni ver sary of the Peo ple s Re pub lic (C6) com plete (Scott 60-64), with out gum as is - sued, Very Fine. Estimate HK$ 1,600-1,800 2095 ( )a 1950, 1st An ni ver sary of the Peo ple s Re pub lic (C6) com plete, re prints (Scott 60-64), mar gin blocks of 10, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2096 ( )a 1950, 1st An ni ver sary of the Peo ple s Re pub lic (C6) com plete, re prints (Scott 60-64), blocks of 20 with $800 be ing a com plete sheet of 20, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 3,000-4,000 2097 ( )a 1950, First All-China Postal Con fer ence (C7) com plete, re prints (Scott 72-73), each value com - prised of two mar gin blocks of 25 with im prints, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2098 ( )a 1951, Lu Xun (C11) com plete, re prints (Scott 122-123), sheets of 50 with im prints, with out gum as is - sued; folded once along perfs, Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2099 ( )a 1952, Asian-Pa cific Peace Con fer ence (C18) com plete (Scott 167-170), mar gin blocks of 20, with - out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,200-1,500 2100 ( )a 1952, Chi nese Vol un teers in Ko rea (C19) com plete (Scott 171-174), match ing up per right nu meric mar gin blocks of 6 with sheet num bers, with out gum as is sued; $800 vi o let pen no ta tion in mar gin, Very Fine (photo on web site). Estimate HK$ 1,200-1,500 2101 ( )a 1952, Chi nese Vol un teers in Ko rea (C19) com plete (Scott 171-174), 40 sets, com prised of four blocks of 10 of each value, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,800-2,200 2102 ( )a 1952, Chi nese Vol un teers in Ko rea (C19) com plete (Scott 171-174), 40 sets, com prised of four blocks of 10 of each value, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,800-2,200 18 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2103 ( )a 1953, Karl Marx (C22) com plete (Scott 183-184), right side mar gin blocks of 40 with im print and sheet num bers, in, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2104 ( )a 1953, Fa mous Men (C25) com plete (Scott 202-205), in cor ner mar gin blocks of 40, all ex cept $400 with im prints, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,100-1,700 2105 ( )a 1953, Fa mous Men (C25) com plete (Scott 202-205), bot tom mar gin blocks of 40, with out gum as is - sued, Very Fine (photo on web site). Estimate HK$ 1,000-1,600 2106 ( )a 1954, First Na tional Con gress (C29) com plete (Scott 237-238), 40 sets, the $400 a block of 40 and the $800 two blocks of 20, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2107 ( )a 1954, First Na tional Con gress (C29) com plete (Scott 237-238), 40 sets, the $400 a nu meric block of 40 and the $800 two nu meric blocks of 20, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2108 ( )a 1954, Con sti tu tion (C30) com plete (Scott 239-240), com plete sheets of 60, with out gum as is sued; folded, one piece of sel vage miss ing at left on one stamp only be low nu meric mark ing, Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2109 ( )a 1954, Con sti tu tion (C30) com plete (Scott 239-240), com plete sheets of 60, with out gum as is sued; folded once, with one piece of sel vage miss ing on one stamp only at left be low nu meric mark ing, Very Fine (photo on web site). Estimate HK$ 2,000-2,500 2110 ( )a 1954, Con sti tu tion (C30) com plete (Scott 239-240), 40 sets, in match ing blocks of 20, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 800-1,200 2111 ( ) 1955, Sci en tists of An cient China sou ve nir sheets (C33M) com plete (Scott 245a-248a), with out gum as is sued, Very Fine. Estimate HK$ 1,000-1,500 2112 ( ) 1955, Sci en tists of An cient China sou ve nir sheets (C33M) com plete (Scott 245a-248a), with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2113 ( ) 1955, Sci en tists of An cient China sou ve nir sheets (C33M) com plete (Scott 245a-248a), with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2114 ( ) 1955, Sci en tists of An cient China sou ve nir sheets (C33M) com plete (Scott 245a-248a), with out gum as is sued; 245a,247a-48a shal low thins, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2115 ( ) 1955, Sci en tists of An cient China sou ve nir sheets (C33M) com plete (Scott 245a-248a), with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 www.kelleherasia.com Sale 13 - Sep. 28, 2014 19

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2116 ( )a 1957, Work ers Ath letic Meet ing (C39) com plete (Scott 306-310), blocks of 10, with out gum as is - sued; folded, Very Fine (photo on web site). Estimate HK$ 1,200-1,400 2117 ( ) 1957, 8f Truck Pro duc tion (C40) (Scott 312), with out gum as is sued, fresh choice ex am ple, Su perb; 2014 PSE cer tif i cate, graded Su perb 98. Estimate HK$ 300-400 2118 ( )a 1957, Yangtse River Bridge at Wuhan (C43) com plete (Scott 319-320), lower left cor ner mar gin blocks of 50 with mar ginal nu meric mark ings, with out gum as is sued; mi nor sep a ra tions, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2119 2121 2119 ( ) 1958, Peo ple s Heroes Mon u ment sou ve nir sheet (C47M) (Scott 344a), with out gum as is sued, Very Fine. Estimate HK$ 1,500-2,000 2120 ( ) 1958, Peo ple s Heroes Mon u ment sou ve nir sheet (C47M) (Scott 344a), with out gum as is sued, Ex - tremely Fine (photo on web site). Estimate HK$ 1,500-2,000 2121 ( ) 1958, Kuan Han-ching sou ve nir sheet (C50M) (Scott 357a), with out gum as is sued, Very Fine. Estimate HK$ 2,000-3,000 2122 ( ) 1958, Kuan Han-ching sou ve nir sheet (C50M) (Scott 357a), with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 2,000-3,000 20 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2123 ( )a 1958, Re turn of Chi nese Vol un teers from Ko rea (C57) com plete (Scott 382-384), cor ner mar gin blocks of 10 with sheet num bers, with out gum as is sued; folded, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 2124 ( )a 1959, In ter na tional Women s Day (C59) com plete (Scott 405-406), match ing bot tom right cor ner mar gin blocks of 50, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2125 ( )a 1959, In ter na tional Women s Day (C59) com plete (Scott 405-406), match ing left side sheet mar gin blocks of 60 with mar ginal nu meric mark ings, with out gum as is sued; folded once along perfs for stor age, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2126 ( )a 1959, World Ta ble Ten nis Cham pi on ships (C66) com plete (Scott 423-424), match ing right mar gin blocks of 40, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 3,200-4,000 2127 a 1959, 10th An ni ver sary of Peo ple s Re pub lic (3rd Is sue) (C69) com plete (Scott 445-452), matched top and bot tom mar gin blocks of 10 with im prints, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2128 a 1959, 10th An ni ver sary of Peo ple s Re pub lic (3rd Is sue) (C69) com plete (Scott 445-452), match - ing right side mar gin blocks of 20 with im prints, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 4,800-6,000 2129 2130 2129 ( ) 1959, 10th An ni ver sary of Peo ple s Re pub lic (5th Is sue) (C71) (Scott 456), with out gum as is sued, Very Fine. Estimate HK$ 1,500-2,000 2130 ( ) 1959, 10th An ni ver sary of Peo ple s Re pub lic (5th Is sue) (C71) (Scott 456), with out gum as is sued, very fresh, not a drop of ton ing, Very Fine. Estimate HK$ 1,500-2,000 2131 ( )a 1959, 10th An ni ver sary of Peo ple s Re - pub lic (5th Is sue) (C71) (Scott 456), cor ner mar gin block of 4 with nu mer i cal mark ings, with out gum as is - sued; folded along perfs, Very Fine. Estimate HK$ 1,200-1,600 2131 www.kelleherasia.com Sale 13 - Sep. 28, 2014 21

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2132 ( )a 1959, Exhibition of Industry and Communications (C73) complete (Scott 463-464), match ing top mar gin half sheets of 50 with im prints, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 Ex 2133 2133 1960, Tsunyi Con fer ence (C74) com plete (Scott 487-489), o.g., never hinged, Very Fine. Estimate HK$ 1,400-1,600 2134 a 1960, Le nin (C77) com plete (Scott 499-501), mar ginal blocks of 10, o.g., never hinged; folded, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2135 a 1961, World Ta ble Ten nis Cham pi on ships (C86) com plete (Scott 563-566), blocks of 10, o.g., never hinged; ver ti cal fold through perfs, Very Fine (photo on web site). Estimate HK$ 1,400-1,800 2136 2137 2136 ( ) 1961, World Ta ble Ten nis Cham pi on ships sou ve nir sheet (C86M) (Scott 566a), with out gum as is - sued, Very Fine. Estimate HK$ 6,000-8,000 2137 1961, World Ta ble Ten nis Cham pi on ships sou ve nir sheet (C86M) (Scott 566a), o.g., never hinged, Very Fine. Estimate HK$ 5,000-6,000 2138 a 1961, Zhan Tianyou (C87) com plete (Scott 567-568), blocks of 10 with sheet num bers, o.g., never hinged; folded, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2139 a 1961, Zhan Tianyou (C87) com plete (Scott 567-568), match ing right mar gin blocks of 25 with im - prints, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 3,000-3,500 22 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives Ex 2140 Ex 2141 Ex 2142 2140 1961, Chi nese Com mu nist Party 40th An ni ver sary (C88) com plete (Scott 569-573), o.g., never hinged, pris tine mint, Very Fine. Estimate HK$ 1,500-2,000 2141 1961, Chi nese Com mu nist Party 40th An ni ver sary (C88) com plete (Scott 569-573), o.g., never hinged, fresh mint, Very Fine. Estimate HK$ 1,500-2,000 2142 1961, Chi nese Com mu nist Party 40th An ni ver sary (C88) com plete (Scott 569-573), o.g., never hinged, Very Fine. Estimate HK$ 1,500-1,700 2143 1961, Chi nese Com mu nist Party 40th An ni ver sary (C88) com plete (Scott 569-573), lightly dis - turbed o.g., Very Fine (photo on web site). Estimate HK$ 1,200-1,600 Ex 2144 2144 1961, Mon go lian Peo ple s Rev o lu tion (C89) com plete (Scott 586-587), o.g., never hinged, Very Fine. Estimate HK$ 800-1,000 2145 1962, Sci en tists of An cient China (C92) com plete (Scott 639-646), matched right mar gin blocks of 10, o.g., never hinged; folded, Very Fine (photo on web site). Estimate HK$ 4,800-5,400 Ex 2146 2146 1962, Mei Lan-fang, per fo rated (C94) com plete (Scott 620-627), o.g., never hinged, Very Fine. Estimate HK$ 12,000-14,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 23

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives Ex 2147 2147 1962, Mei Lan-fang, per fo rated (C94) com plete (Scott 620-627), o.g., never hinged; cou ple small ish flaws, oth er wise Very Fine. Estimate HK$ 8,000-10,000 2148 No Lot - Ex 2149 2149 1962, Mei Lan-fang, per fo rated (C94) com plete (Scott 620-627), flaw less o.g. with out any of the usual cracks or bends, never hinged, hand some Very Fine ap pear ance. Estimate HK$ 8,000-10,000 Ex 2150 2150 1962, Mei Lan-fang, per fo rated (C94) com plete (Scott 620-627), o.g., never hinged, ex cept 620, 622, 625 NG; 623 LH, Very Fine. Estimate HK$ 6,000-7,000 Ex 2151 2151 1962, Mei Lan-fang, per fo rated (C94) com plete (Scott 620-627), o.g., never hinged, Very Fine. Estimate HK$ 6,000-8,000 24 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives Ex 2152 2152 1962, Mei Lan-fang, per fo rated (C94) com plete (Scott 620-627), o.g., hinge rem nant, Very Fine. Estimate HK$ 5,000-6,000 Ex 2153 2153 1962, Mei Lan-fang, per fo rated (C94) com plete (Scott 620-627), CTO, nice ap pear ance; low val ues perf stained along top perfs, oth er wise Fine to Very Fine. Estimate HK$ 1,500-2,000 Ex 2154 2154 1962, Mei Lan-fang, im per fo rate (C94i) com plete (Scott 620-627 vars.), o.g., never hinged, Very Fine. Estimate HK$ 38,000-42,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 25

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2155 1962, Mei Lan-fang sou ve nir sheet (C94M) (Scott 628), o.g., never hinged, Ex tremely Fine; with 2014 PSE cer tif i cate, graded XF 90. Estimate HK$ 100,000-120,000 A pre mier phil a telic item of the Peo ple s Re pub lic of China, in flaw less con di tion. 26 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2156 1962, Mei Lan-fang sou ve nir sheet (C94M) (Scott 628), o.g., never hinged, won der fully fresh, with full clean white gum, a lovely ex am ple of this ever pop u lar, key is sue of the PRC; tiny cor ner crease at lower left shows with re sid ual cor ner scuff, Very Fine. Estimate HK$ 80,000-100,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 27

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2157 1962, Mei Lan-fang sou ve nir sheet (C94M) (Scott 628), o.g., never hinged; small cor ner wrin kle lower left, 3-4 black print ing ink specks lower right, cor ner tip wrin kle, oth er wise Very Fine. Estimate HK$ 80,000-100,000 28 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2158 1962, Mei Lan-fang sou ve nir sheet (C94M) (Scott 628), o.g., a fa cially at trac tive sheet; a cou ple of scuff marks at right & left of cen tral stamp; slight gum dis tur bance at top, along with ink no ta tion on gum, oth er wise Very Fine. Estimate HK$ 30,000-40,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 29

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2159 1962, Rus sian Rev o lu tion (C95) com plete (Scott 635-636), o.g., never hinged, Very Fine. Estimate HK$ 1,400-1,600 2160 a 1962, Al ba nian In de pend ence (C96) com plete (Scott 637-638), 20 sets, in match ing left side mar gin blocks of 10 and top and bot tom mar gin blocks of 10 with im prints, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 Ex 2161 Ex 2162 Ex 2163 2161 1963, Cu ban Rev o lu tion (C97) com plete (Scott 655-660), o.g., never hinged, Very Fine. Estimate HK$ 2,500-2,700 2162 1963, Cu ban Rev o lu tion (C97) com plete (Scott 655-660), o.g., Very Fine. Estimate HK$ 1,500-2,000 2163 1963, Cu ban Rev o lu tion (C97) com plete (Scott 655-660), o.g., never hinged (4 fen spot of gum glaze), Very Fine. Estimate HK$ 1,500-2,000 2164 1963, Cu ban Rev o lu tion (C97) com plete (Scott 655-660), o.g. (10 fen gum raised, dis turbed gum), Very Fine (photo on web site). Estimate HK$ 1,200-1,600 Ex 2165 2165 a 1963, Cu ban Rev o lu tion (C97) com plete (Scott 655-660), im print blocks of 4, CTO, Very Fine. Estimate HK$ 2,500-3,000 30 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2166 a 1964, Af ri can Free dom Day (C103) com plete (Scott 756-757), com plete sheets of 50, o.g., never hinged; folded once hor i zon tally along perfs, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2167 a 1964, Af ri can Free dom Day (C103) com plete (Scott 756-757), com plete sheets of 50, o.g., never hinged; folded once hor i zon tally along perfs, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2168 a 1964, South Viet nam Vic tory Cam paign (C105) (Scott 766), up per left cor ner mar gin block of 8, o.g., never hinged; folded along perfs, Very Fine. Estimate HK$ 1,200-2,000 2169 1964, 15th An ni ver sary of the Peo ple s Re pub lic (C106) com plete (Scott 798b), se-ten ant strip of 3, o.g., never hinged, Very Fine. Estimate HK$ 1,500-1,700 www.kelleherasia.com Sale 13 - Sep. 28, 2014 31

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2170 1964, 15th An ni ver sary of the Peo ple s Re pub lic sou ve nir sheet (C106M) (Scott 798a), o.g., never hinged, beau ti ful and spot less con di tion, Su perb, with 2014 PSE cer tif i cate, graded Superb 98. Estimate HK$ 20,000-22,000 2171 1964, 15th An ni ver sary of the Peo ple s Re pub lic sou ve nir sheet (C106M) (Scott 798a), o.g., never hinged; ar eas of dulled gum on re verse and small sur face mark in mar gin on front, oth er wise fresh and Very Fine. Estimate HK$ 12,000-16,000 32 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2172 1965, Tsunyi Con fer ence (C109) com plete (Scott 818-820), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,400-1,600 Ex 2173 2173 1965, Tsunyi Con fer ence (C109) com plete (Scott 818-820), o.g., never hinged, Fine to Very Fine. Estimate HK$ 2,000-3,000 2174 a 1965, World Ta ble Ten nis Cham pi on ships (C112) com plete, se-ten ant (Scott 827a), 20 sets in left and right mar gin blocks of 10 with im prints, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 Ex 2175 2175 1967, 20th An ni ver sary of Vic tory Over Ja pan (C115) com plete (Scott 859-862), o.g., never hinged, Very Fine. Estimate HK$ 800-1,000 Ex 2176 Ex 2177 2176 1965, 2nd Na tional Games (C116) com plete (Scott 863-873), o.g., never hinged, Very Fine. Estimate HK$ 2,800-3,000 2177 1965, 2nd Na tional Games (C116) com plete (Scott 863-873), o.g., never hinged, Very Fine. Estimate HK$ 2,600-3,000 2178 1967, Third Five-Year Plan (C118) com plete (Scott 936-937), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 750-1,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 33

PEOPLE S REPUBLIC: 1949-1967 C Series Commemoratives 2179 a 1966, Afro-Asian Writer s Con fer ence (C119) com plete (Scott 917-918), match ing top mar gin blocks of 10, o.g., never hinged; folded twice ver ti cally along perfs, Very Fine (photo on web site). Estimate HK$ 1,400-2,000 2180 a 1966, Afro-Asian Writer s Con fer ence (C119) com plete (Scott 917-918), match ing mar gin blocks of 10, o.g., never hinged; folded twice ver ti cally along perfs, Very Fine (photo on web site). Estimate HK$ 1,200-1,800 Ex 2181 Ex 2182 Ex 2183 2181 1966, Ath letic Games of New Emerg ing Forces (C121) com plete (Scott 920-923), o.g., never hinged, Very Fine. Estimate HK$ 2,000-3,000 2182 1966, Ath letic Games of New Emerg ing Forces (C121) com plete (Scott 920-923), o.g., never hinged, Very Fine. Estimate HK$ 2,000-3,000 2183 1966, Ath letic Games of New Emerg ing Forces (C121) com plete (Scott 920-923), o.g., never hinged, Very Fine. Estimate HK$ 2,000-3,000 2184 2185 2184 1966, Lu Xun (C122) com plete (Scott 924-926), o.g., never hinged, Very Fine. Estimate HK$ 1,500-2,000 2185 1966, Lu Xun (C122) com plete (Scott 924-926), o.g., never hinged, Very Fine. Estimate HK$ 1,500-2,000 34 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives Ex 2186 Ex 2187 Ex 2188 2186 1967, Liu Ying-jun (C123) com plete (Scott 930-935), o.g., never hinged, Very Fine. Estimate HK$ 2,000-2,600 2187 1967, Liu Ying-jun (C123) com plete (Scott 930-935), o.g., never hinged, Very Fine. Estimate HK$ 2,000-2,600 2188 1967, Oil well Firefighters (C124) com plete (Scott 927-929), o.g., never hinged, Very Fine. Estimate HK$ 800-1,000 1949-1966 S Series Commemoratives 2189 ( )a 1952, Glo ri ous Mother Coun try (1st Is sue) (S3) com plete (Scott 151-154), cor ner mar gin in scrip tion blocks of 40, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2190 ( )a 1952, Glo ri ous Mother Coun try (1st Is sue) (S3) com plete (Scott 151-154), sheets of 96, with out gum as is sued; sen si bly folded along perfs for stroage, Very Fine (photo on web site). Estimate HK$ 5,000-6,000 Ex 2191 Ex 2192 2191 ( ) 1952, Gym nas tics by Ra dio (S4) com plete (Scott 141-150), with out gum as is sued, Very Fine. Estimate HK$ 6,000-7,000 2192 ( ) 1952, Gym nas tics by Ra dio (S4) com plete (Scott 141-150), with out gum as is sued, Very Fine. Estimate HK$ 6,000-7,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 35

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives 2193 ( )a 1952, Glo ri ous Mother Coun try (2nd is sue) (S5) com plete (Scott 163-166), blocks of 20 ex cept $800 red a block of 16, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2194 ( )a 1952, Glo ri ous Mother Coun try (2nd is sue) (S5) com plete (Scott 163-166), sheets of 98, in, with out gum as is sued; few triv ial mar gin bends and folded along perfs, fressh and Very Fine (photo on web site). Estimate HK$ 4,000-6,000 2195 ( )a 1952, Glo ri ous Mother Coun try (2nd is sue) (S5) com plete (Scott 163-166), sheets of 98, with out gum as is sued; few triv ial mar gin bends and folded along perfs, fressh and Very Fine (photo on web site). Estimate HK$ 4,000-6,000 2196 ( )a 1954, Anshan Steel Works (S10) com plete (Scott 229-230), 50 sets in up per left nu meric mar ginal blocks of 20 and blocks of 30, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2197 ( )a 1954, Prog ress in Tech nol ogy (S11) com plete (Scott 235-236), cor ner mar gin blocks of 50, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 2,000-2,500 2198 ( )a 1954, Prog ress in Tech nol ogy (S11) com plete (Scott 235-236), com plete sheets of 96, with out gum as is sued, won der fully fresh with good mar gins; folded once, Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2199 ( )a 1954, Prog ress in Tech nol ogy (S11) com plete (Scott 235-236), com plete sheets of 96, with out gum as is sued, fresh and choice; folded once, Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2201 2200 ( ) 1954, $800 Prog ress in Tech nol ogy (S11) (Scott 236), with out gum as is sued, fresh choice ex am ple, Su perb; 2014 PSE cer tif i cate, graded Su perb 98. Estimate HK$ 300-400 2201 ( )a 1955, Five Year Plan (S13) com plete (Scott 249-266), 20 sets in match ing up per right cor ner mar gin blocks of 20, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 10,000-15,000 2202 ( ) 1957, 8f Ag ri cul tural Co-op er a tives (S20) (Scott 333), with out gum as is sued, fresh choice ex am ple, Su perb; 2013 PSE cer tif i cate, graded Superb 98. Estimate HK$ 300-400 2203 ( )a 1958, Chi nese Fos sils (S22) com plete (Scott 341-343), lower right cor ner mar gin blocks of 50 with mar ginal nu meric mark ings, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 2,000-2,400 2204 ( )a 1958, Chi nese Fos sils (S22) com plete (Scott 341-343), up per right cor ner mar gin blocks of 50, with - out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2205 ( )a 1958, Me te o rol ogy (S24) com plete (Scott 367-369), 20 sets, in match ing cor ner mar gin blocks of 10. One set of blocks with mar ginal nu meric mark ings, with out gum as is sued; each one fold along perfs, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2202 36 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives 2206 ( )a 1958, For estry (S27) com plete (Scott 385-388), mar ginal blocks of 10, with out gum as is sued, fresh; folded, Very Fine (photo on web site). Estimate HK$ 800-1,000 2207 ( )a 1958, Avi a tion Sports (S29) com plete (Scott 394-397), matched right mar gin blocks of 50, with out gum as is sued; each value folded once along perfs, Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2208 ( )a 1958, Avi a tion Sports (S29) com plete (Scott 394-397), match ing left mar gin blocks of 50 with nu mer - i cal num bers, with out gum as is sued; folded once along perfs for stor age, Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2209 ( )a 1959, Mu seum of Nat u ral His tory (S31) com plete (Scott 407-408), blocks of 10with nu mer i cal im - print on bot tom sel vage, with out gum as is sued, Fine to Very Fine (photo on web site). Estimate HK$ 800-1,000 2210 ( )a 1959, Mu seum of Nat u ral His tory (S31) com plete (Scott 407-408), match ing bot tom mar gin blocks of 40, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,400-1,800 2211 ( )a 1960, National Agricultural Exhibition Hall (S37) complete (Scott 483-486), match ing top magin blocks of 50 with nu mer i cal mar ginal mark ings, with out gum as is sued; few mi nor sep a ra tions, Very Fine (photo on web site). Estimate HK$ 2,000-2,500 Ex 2212 2212 1960, Gold fish (S38) com plete (Scott 506-517), o.g., never hinged, Very Fine. Estimate HK$ 5,000-6,000 Ex 2213 Ex 2214 2213 1960, Gold fish (S38) com plete (Scott 506-517), o.g. (shiny to dull gum), never hinged, Fine to Very Fine cen ter ing. Estimate HK$ 4,000-5,000 2214 1960, Gold fish (S38) com plete (Scott 506-517), some usual dryish o.g., Very Fine. Estimate HK$ 1,800-2,000 2215 / 1960, Gold fish (S38) com plete (Scott 506-517), both a MNH set, with mi nor ton ing or some dis turbed gum al though very clean from the front, and a CTO set, hand some Very Fine ap pear ance (photo on web site). Estimate HK$ 2,000-3,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 37

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives Ex 2216 Ex 2217 Ex 2218 2216 1960, Pig Breed ing (S40) com plete (Scott 518-522), o.g., never hinged, Very Fine. Estimate HK$ 1,800-2,000 2217 1960, Pig Breed ing (S40) com plete (Scott 518-522), o.g., never hinged, Very Fine. Estimate HK$ 1,800-2,000 2218 1960, Pig Breed ing (S40) com plete (Scott 518-522), 518-19 dis turbed o.g., oth ers o.g., never hinged, Fine to Very Fine. Estimate HK$ 1,800-2,000 2219 / 1960, Pig Breed ing (S40) com plete (Scott 518-522), both a MNH set, with mi nor ton ing al though very clean from the front, and a CTO ed set, Very Fine ap pear ance (photo on web site). Estimate HK$ 1,000-1,500 Ex 2220 Ex 2221 Ex 2222 2220 1960-61, Chry san the mums (S44) com plete (Scott 542-559), o.g., never hinged, Very Fine. Estimate HK$ 8,000-9,000 2221 1960-61, Chry san the mums (S44) com plete (Scott 542-559), pris tine mint with im mac u late o.g., never hinged, Very Fine and choice. Estimate HK$ 5,000-6,000 2222 1960-61, Chry san the mums (S44) com plete (Scott 542-559), o.g., gen er ally lightly hinged; 4 fen pink small fa cial scuff, oth er wise Fine to Very Fine. Estimate HK$ 2,600-3,000 38 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives Ex 2223 Ex 2224 Ex 2225 2223 1961, Tang Dy nasty Pot tery (S46) com plete (Scott 592-599), o.g., never hinged, Very Fine. Estimate HK$ 800-1,000 2224 1961, Re birth of the Ti betan Peo ple (S47) com plete (Scott 600-604), o.g., never hinged, pure white gum, Very Fine. Estimate HK$ 2,600-3,000 2225 1961, Re birth of the Ti betan Peo ple (S47) com plete (Scott 600-604), o.g., never hinged, Very Fine. Estimate HK$ 1,800-2,000 2226 ( )a 1962, Chi nese Folk Dances (1st Is sue) (S49) com plete (Scott 629-634), match ing top and bot tom mar gin blocks of 20 with im prints, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 Ex 2227 Ex 2228 2227 1962, Sup port for Cuba (S51) com plete (Scott 615-617), o.g., never hinged, Very Fine. Estimate HK$ 1,700-1,900 2228 1962, Sup port for Cuba (S51) com plete (Scott 615-617), o.g., never hinged, Very Fine. Estimate HK$ 1,500-2,000 2229 a 1962, Sup port for Al ge ria (S52) com plete (Scott 618-619), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2230 ( )a 1963, Chi nese Folk Dances (2nd Is sue) (S53) com plete (Scott 696-701), 50 sets, the 4f, 10f and 20f in com plete sheets of 50 with the other val ues in match ing left or right half sheets of 25 with im prints, with out gum as is sued; the sheets folded once ver ti cally along perfs, Very Fine (photo on web site). Estimate HK$ 3,200-4,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 39

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives Ex 2231 2231 ( ) 1963, Chil dren, per fo rated & im per fo rate (S54, S54i) com plete (Scott 684-695, vars.), with out gum as is sued, Very Fine. Estimate HK$ 1,500-2,000 Ex 2232 2232 ( ) 1963, Chil dren, im per fo rate (S54i) com plete (Scott 684-695 vars.), with out gum as is sued; cou ple of min ute spots on 20f, Very Fine. Estimate HK$ 1,500-2,000 Ex 2233 2233 ( ) 1963, Chil dren, im per fo rate (S54i) com plete (Scott 684-695 vars.), with out gum as is sued, Very Fine. Estimate HK$ 1,500-2,000 40 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives Ex 2234 Ex 2235 Ex 2236 Ex 2237 Ex 2238 2234 ( ) 1963, But ter flies (S56) com plete (Scott 661-680), the 5 April printings, all im print sin gles (10 val ues), with out gum as is sued, fresh, Very Fine. Estimate HK$ 3,000-4,000 2235 ( ) 1963, But ter flies (S56) com plete (Scott 661-680), with out gum as is sued, Very Fine. Estimate HK$ 2,400-3,000 2236 ( ) 1963, But ter flies (S56) com plete (Scott 661-680), with out gum as is sued, a lovely set, Very Fine. Estimate HK$ 2,400-3,000 2237 ( ) 1963, But ter flies (S56) com plete (Scott 661-680), with out gum as is sued, Very Fine. Estimate HK$ 2,400-3,000 2238 ( ) 1963, But ter flies (S56) com plete (Scott 661-680), with out gum as is sued, Ex tremely Fine. Estimate HK$ 2,400-3,000 Ex 2239 Ex 2240 2239 1963, Hwangshan (Yel low Moun tain) Land scapes (S57) com plete (Scott 716-731), o.g., never hinged, Very Fine. Estimate HK$ 6,000-7,000 2240 1963, Hwangshan (Yel low Moun tain) Land scapes (S57) com plete (Scott 716-731), o.g., never hinged, pure white gum, Very Fine. Estimate HK$ 6,000-8,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 41

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives Ex 2241 Ex 2242 2241 1963, Hwangshan (Yel low Moun tain) Land scapes (S57) com plete (Scott 716-731), P.O. fresh, with im mac u late, clean o.g., never hinged, Very Fine. Estimate HK$ 5,000-6,000 2242 / 1963, Hwangshan (Yel low Moun tain) Land scapes (S57) com plete (Scott 716-731), o.g., hinged or never hinged, Very Fine. Estimate HK$ 5,000-6,000 Ex 2243 Ex 2244 2243 1963, Hwangshan (Yel low Moun tain) Land scapes (S57) com plete (Scott 716-731), o.g., Very Fine. Estimate HK$ 5,000-6,000 2244 1963, Hwangshan (Yel low Moun tain) Land scapes (S57) com plete (Scott 716-731), o.g., never hinged, Very Fine. Estimate HK$ 5,000-6,000 Ex 2245 2245 1963, Hwangshan (Yel low Moun tain) Land scapes (S57) com plete (Scott 716-731), CTO, fresh and Fine to Very Fine. Estimate HK$ 1,000-1,500 2246 ( )a 1963, Chi nese Folk Toys (S58) com plete (Scott 737-745), match ing up per right cor ner mar gin blocks of 25 with im prints, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2247 ( )a 1963, Chi nese Folk Toys (S58) com plete (Scott 737-745), match ing up per mar gin blocks of 25 with im prints, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 42 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives 2248 1963, Gi ant Pan das, per fo rated (S59) com plete (Scott 708-710), two sets, o.g., never hinged, Very Fine. Estimate HK$ 1,500-1,700 Ex 2249 Ex 2250 2249 1963, Gi ant Pan das, im per fo rate (S59i) com plete (Scott 708-710 vars.), o.g., never hinged, in clud - ing 8f stamp with top sel vage, Fine to Very Fine. Estimate HK$ 1,500-1,700 2250 1963, Gi ant Pan das, im per fo rate (S59i) com plete (Scott 708-710 vars.), o.g., never hinged, fresh and bright, am ple mar gins, Very Fine. Estimate HK$ 1,250-2,000 Ex 2251 Ex 2252 2251 1963, Golden-haired Mon keys, im per fo rate (S60i) com plete (Scott 713-715 vars.), o.g., never hinged, Very Fine. Estimate HK$ 1,500-2,000 2252 1963, Golden-haired Mon keys, im per fo rate (S60i) com plete (Scott 713-715 vars.), o.g., never hinged, Ex tremely Fine. Estimate HK$ 1,200-1,400 www.kelleherasia.com Sale 13 - Sep. 28, 2014 43

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives Ex 2253 Ex 2254 Ex 2255 2253 1964, Chi nese Pe o nies (S61) com plete (Scott 767-781), clean o.g., very fresh, Ex tremely Fine. Estimate HK$ 3,000-3,500 2254 1964, Chi nese Pe o nies (S61) com plete (Scott 767-781), o.g., never hinged, Very Fine. Estimate HK$ 2,600-3,000 2255 1964, Chi nese Pe o nies (S61) com plete (Scott 767-781), sev eral with mar gin, o.g., never hinged, Very Fine. Estimate HK$ 2,600-3,000 Ex 2256 2256 1964, Chi nese Pe o nies (S61) com plete (Scott 767-781), o.g., never hinged; spot ted gum, Fine to Very Fine. Estimate HK$ 2,000 Ex 2257 Ex 2258 Ex 2259 2257 1964, Chi nese Pe o nies (S61) com plete (Scott 767-781), o.g.; 781 shal low thin, oth er wise Very Fine. Estimate HK$ 1,500-2,500 2258 1964, Chi nese Pe o nies (S61) com plete (Scott 767-781), hor i zon tal pairs, un folded, im mac u late P.O. fresh o.g., never hinged, Very Fine. Estimate HK$ 7,500-8,000 2259 1964, Chi nese Pe o nies (S61) com plete (Scott 767-781), all in scrip tion sin gles ex cept S339, CTO, fresh, clean and Very Fine. Estimate HK$ 1,000-1,500 44 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives 2260 2261 2260 ( ) 1964, Chi nese Pe o nies sou ve nir sheet (S61M) (Scott 782), with out gum as is sued, fresh, Very Fine; with 2014 PSE cer tif i cate, graded VF 80. Estimate HK$ 18,000-20,000 2261 ( ) 1964, Chi nese Pe o nies sou ve nir sheet (S61M) (Scott 782), with out gum as is sued, Very Fine. Estimate HK$ 14,000-16,000 2262 1964, Chi nese Pe o nies sou ve nir sheet (S61M) (Scott 782), cancelled to or der with first day of is sue can cel la tion, bright, Very Fine. Estimate HK$ 5,000-6,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 45

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives Ex 2263 2263 1966, New In dus trial Ma chines (S62) com plete (Scott 899-906), o.g., never hinged, Very Fine. Estimate HK$ 1,600-1,800 2264 a 1964, Women of the Peo ple s Com mune (S64) com plete (Scott 750-755), blocks of 4 with im print on top sel vage, o.g., never hinged, Fine to Very Fine (photo on web site). Estimate HK$ 500-600 2265 a 1964, Women of the Peo ple s Com mune (S64) com plete (Scott 750-755), match ing right mar gin blocks of 25 with im prints, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 3,500-4,000 2266 a 1964, Women of the Peo ple s Com mune (S64) com plete (Scott 750-755), match ing left side mar gin blocks of 25 with im prints, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 3,500-4,000 Ex 2267 Ex 2268 Ex 2269 2267 1964, Pe tro leum In dus try (S67) com plete (Scott 799-803), o.g., never hinged, Very Fine. Estimate HK$ 2,000-3,000 2268 1964, Pe tro leum In dus try (S67) com plete (Scott 799-803), o.g., Very Fine. Estimate HK$ 2,000-3,000 2269 1964, Pe tro leum In dus try (S67) com plete (Scott 799-803), o.g., never hinged, Very Fine. Estimate HK$ 2,000-3,000 2270 1964, Xinanjiang Hy dro-elec tric Power Sta tion (S68) com plete (Scott 806-809), o.g., never hinged, Very Fine. Estimate HK$ 2,700-2,900 2271 1964, Xinanjiang Hy dro-elec tric Power Sta tion (S68) com plete (Scott 806-809), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,600-3,000 2272 a 1964, Xinanjiang Hy dro-elec tric Power Sta tion (S68) com plete (Scott 806-809), mar gin blocks of 4, CTO, Very Fine (photo on web site). Estimate HK$ 1,200-1,800 2273 1964, Chem i cal In dus try (S69) com plete (Scott 810-817), mar ginal blocks of 10, o.g., never hinged; folded, Very Fine (photo on web site). Estimate HK$ 1,800-2,200 Ex 2270 46 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1949-1966 S Series Commemoratives 2274 a 1965, Chi nese Moun tain eer ing Achieve ments (S70) com plete (Scott 828-832), blocks of 4 with bot tom or top sel vage, o.g., never hinged, Fine to Very Fine (photo on web site). Estimate HK$ 1,200-1,600 Ex 2275 Ex 2276 2275 1965, Women in In dus try (S71) com plete (Scott 886-890), o.g., never hinged, Very Fine. Estimate HK$ 800-1,000 2276 1965, Jinggang Moun tains (S73) com plete (Scott 834-841), o.g., never hinged, Very Fine. Estimate HK$ 1,800-2,000 Ex 2277 Ex 2278 2277 1965, Peo ple s Lib er a tion Army (S74) com plete (Scott 842-849), o.g., never hinged, Very Fine. Estimate HK$ 2,600-3,000 2278 1965, Peo ple s Lib er a tion Army (S74) com plete (Scott 842-849), 3 val ues in scrip tion sin gles, o.g., never hinged, Fine to Very Fine. Estimate HK$ 2,000-3,000 Ex 2279 Ex 2280 2279 1965, Peo ple s Lib er a tion Army (S74) com plete (Scott 842-849), o.g., never hinged, Very Fine. Estimate HK$ 1,800-2,000 2280 1965, Peo ple s Lib er a tion Army (S74) com plete (Scott 842-849), with bot tom or right sel vage, o.g., Very Fine. Estimate HK$ 1,000-1,500 www.kelleherasia.com Sale 13 - Sep. 28, 2014 47

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives 2281 a 1966, Women in Pub lic Ser vice (S75) com plete (Scott 907-916), match ing up per left mar gin blocks of 10 with im print, o.g., never hinged; folded twice hor i zon tally along perfs, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2282 a 1966, Women in Pub lic Ser vice (S75) com plete (Scott 907-916), match ing bot tom mar gin blocks of 25 with im prints, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 3,200-4,000 1967-1970 W Series Commemoratives 2283 1967, Thoughts of Chair man Mao (W1) com plete (Scott 938-948), in strips of 5, o.g., never hinged; red strip folded along perfs, Very Fine. Estimate HK$ 10,000-15,000 2284 1967, Thoughts of Chair man Mao (W1) com plete (Scott 938-948), in strips of 5, o.g., never hinged; strips folded along perfs, some slight gold tar nish ing, oth er wise Very Fine. Estimate HK$ 6,000-8,000 48 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives 2285 1967, Thoughts of Chair man Mao (W1) com plete (Scott 938-948), o.g., never hinged, no tar nish ing, Very Fine. Estimate HK$ 5,000-6,000 Ex 2286 2286 1967, Thoughts of Chair man Mao (W1) com plete (Scott 938-948), CTO; right hand stamp of each strip sep a rated, gold lightly tar nished, Fine to Very Fine. Estimate HK$ 4,000-5,000 Ex 2287 2287 1967, Thoughts of Chair man Mao (W1) com plete (Scott 938-948), postally used sin gles; as ex - pected wrin kles and a cou ple crease as well as some miss ing gold, Fine to Very Fine. Estimate HK$ 2,500-3,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 49

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives Ex 2288 2288 1967, Thoughts of Chair man Mao (W1) com plete (Scott 938, 943a, 948a), se-ten ant strips of 5, o.g., never hinged, un blem ished gold; lightly folded, Very Fine. Estimate HK$ 15,000-20,000 Ex 2289 2289 1967, Thoughts of Chair man Mao (W1) com plete (Scott 938, 943a, 948a), se-ten ant strips of 5, o.g., never hinged, bright gold; lightly folded, Very Fine. Estimate HK$ 15,000-20,000 Ex 2290 2290 1967, Thoughts of Chair man Mao (W1) com plete (Scott 938, 943a, 948a), se-ten ant strips of 5, both strips bot tom mar gin ex am ples with im prints, o.g., stamps never hinged, hinged in mar gins only, folded with good gold; 938 crease and mount-glazed gum, Fine to Very Fine. Estimate HK$ 7,500-8,500 Ex 2291 2291 1967, Thoughts of Chair man Mao (W1) com plete (Scott 938, 943a, 948a), se-ten ant strips of 5, CTO; both strips folded, Very Fine. Estimate HK$ 6,000-8,000 50 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives 2292 1967, Thoughts of Chair man Mao (W1), red frame (Scott 943a), se-ten ant strip of 5, o.g., never hinged, bril liant gold color, Ex tremely Fine to Su perb, with 2014 PSE cer tif i cate, graded XF-Su perb 95. Estimate HK$ 10,000-12,000 2293 1967, Thoughts of Chair man Mao (W1), gold frame (Scott 948a), se-ten ant strip of 5, o.g., never hinged, bril liant gold color, Ex tremely Fine; ac com pa nied with 2014 PSE cer tif i cate, and graded XF 90. Estimate HK$ 10,000-12,000 Ex 2294 Ex 2295 Ex 2296 2294 1967, Long Live Chair man Mao Our Great Teacher (W2) com plete (Scott 949-956), o.g., never hinged, Very Fine. Estimate HK$ 9,000-10,000 2295 1967, Long Live Chair man Mao Our Great Teacher (W2) com plete (Scott 949-956), o.g., hinge rem - nant, Very Fine. Estimate HK$ 8,000-10,000 2296 1967, Long Live Chair man Mao Our Great Teacher (W2) com plete (Scott 949-956), o.g., never hinged, Very Fine. Estimate HK$ 6,000-8,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 51

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives Ex 2297 Ex 2298 2297 1967, Long Live Chair man Mao Our Great Teacher (W2) com plete (Scott 949-956), CTO, Fine to Very Fine. Estimate HK$ 3,600-4,000 2298 1967, Long Live Chair man Mao Our Great Teacher (W2) com plete (Scott 949-956), CTO, Very Fine. Estimate HK$ 2,000-3,000 Ex 2299 Ex 2300 Ex 2301 2299 1967, Talks on Lit er a ture and Art (W3) com plete (Scott 957-959), o.g., never hinged, Very Fine. Estimate HK$ 5,000-6,000 2300 1967, Talks on Lit er a ture and Art (W3) com plete (Scott 957-959), o.g., never hinged, Very Fine. Estimate HK$ 5,000-6,000 2301 1967, Talks on Lit er a ture and Art (W3) com plete (Scott 957-959), o.g., Very Fine. Estimate HK$ 3,000-4,000 Ex 2302 Ex 2303 2302 1967, Talks on Lit er a ture and Art (W3) com plete (Scott 957-959), CTO, Very Fine. Estimate HK$ 3,500-4,000 2303 1967, Talks on Lit er a ture and Art (W3) com plete (Scott 957-959), CTO, Very Fine. Estimate HK$ 3,200-3,500 52 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives 2304 1967, Talks on Lit er a ture and Art (W3) com plete (Scott 957-959), CTO, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 Ex 2305 Ex 2306 2305 1967, 46th An ni ver sary of Chi nese Com mu nist Party (W4) com plete (Scott 960-964), o.g., never hinged, Very Fine. Estimate HK$ 2,000-2,600 2306 1967, 46th An ni ver sary of Chi nese Com mu nist Party (W4) com plete (Scott 960-964), o.g., never hinged, Very Fine. Estimate HK$ 1,700-1,900 Ex 2307 Ex 2308 Ex 2309 2307 1968, Rev o lu tion ary Lit er a ture and Art (W5) com plete (Scott 982-990), o.g., never hinged, Very Fine. Estimate HK$ 6,000-7,000 2308 1968, Rev o lu tion ary Lit er a ture and Art (W5) com plete (Scott 982-990), o.g., never hinged, Very Fine. Estimate HK$ 5,000-6,000 2309 1968, Rev o lu tion ary Lit er a ture and Art (W5) com plete (Scott 982-990), o.g., never hinged, Very Fine. Estimate HK$ 5,000-6,000 Ex 2310 Ex 2311 2310 / 1968, Rev o lu tion ary Lit er a ture and Art (W5) com plete (Scott 982-990), 982-87 o.g., 988-90 o.g., never hinged, lat ter three with bot tom sel vage, Very Fine. Estimate HK$ 3,500-5,000 2311 1968, Rev o lu tion ary Lit er a ture and Art (W5) com plete (Scott 982-990), CTO, clean; W28 creased, oth er wise Fine to Very Fine. Estimate HK$ 2,500-3,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 53

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives Ex 2312 2312 1968, Rev o lu tion ary Lit er a ture and Art (W5) com plete (Scott 982-990), CTO, Very Fine. Estimate HK$ 1,200-1,700 2314 Ex 2313 2315 2313 1967, 18th An ni ver sary of the Peo ple s Re pub lic (W6) com plete (Scott 965-966), o.g., never hinged, Very Fine. Estimate HK$ 1,500-1,800 2314 1967, 4f 18th An ni ver sary of the Peo ple s Re pub lic (W6) (Scott 965), o.g., never hinged, pris tine, Ex tremely Fine; ac com pa nied with 2014 PSE cer tif i cate, and graded XF 90. Estimate HK$ 800-1,000 2315 1968, 4f 18th An ni ver sary of the Peo ple s Re pub lic (W6) (Scott 966), o.g., never hinged, clean and fresh, Ex tremely Fine to Su perb; ac com pa nied with 2014 PSE cer tif i cate, and graded XF-Su perb 95. Estimate HK$ 1,500-1,700 Ex 2316 2316 1967-68, Po ems of Chair man Mao (W7) com plete (Scott 967-980), o.g., never hinged, Very Fine. Estimate HK$ 18,000-24,000 54 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives Ex 2317 2317 1967-68, Po ems of Chair man Mao (W7) com plete (Scott 967-980), o.g., never hinged, Very Fine. Estimate HK$ 18,000-24,000 Ex 2318 2318 1967-68, Po ems of Chair man Mao (W7) com plete (Scott 967-980), o.g., never hinged, Very Fine. Estimate HK$ 18,000-24,000 Ex 2319 2319 1967-68, Po ems of Chair man Mao (W7) com plete (Scott 967-980), o.g., bits of hinge rem nant; 975 pa per wrin kle from mount, 978-80 mount-glazed orig i nal gum, Very Fine. Estimate HK$ 14,000-18,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 55

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives Ex 2320 2320 1967-68, Po ems of Chair man Mao (W7) com plete (Scott 967-980), CTO, Very Fine. Estimate HK$ 4,000-5,000 2321 / 1967-68, Po ems of Chair man Mao (W7), se lec tion (Scott 967-980), com prised of used: short W45 but ex tra W40(2, one on piece), W43, W47, W49; mint NH: W45(pair and sin gle) W46 and W48; some used with mi - nor us age flaws, over all Very Fine (photo on web site). Estimate HK$ 5,000-6,000 2322 a 1968, 10f Re ply to Com rade Guo Moro (W7) (Scott 978), in scrip tion block of 4, o.g., never hinged, Very Fine. Estimate HK$ 3,000-4,000 2323 1968, Chair man Mao s Anti-Amer i can Dec la ra tion (W9) (Scott 991), o.g., never hinged, Very Fine. Estimate HK$ 4,000-5,000 2324 1968, Chair man Mao s Anti-Amer i can Dec la ra tion (W9) (Scott 991), o.g., never hinged, Ex tremely Fine (photo on web site). Estimate HK$ 1,200-1,400 56 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives 2325 1968, Di rec tives of Chair man Mao (W10) com plete (Scott 992-996), o.g., never hinged, Very Fine. Estimate HK$ 8,000-10,000 2326 1968, Di rec tives of Chair man Mao (W10) com plete (Scott 996a), se-ten ant strip of 5, o.g., never hinged; folded, Very Fine; with 2014 PSE cer tif i cate, graded VF 80. Estimate HK$ 25,000-30,000 2327 1968, Di rec tives of Chair man Mao (W10) com plete (Scott 996a), se-ten ant strip of 5, o.g., folded, fresh and Very Fine (photo on web site). Estimate HK$ 10,000-15,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 57

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives 2328 a 1968, Peo ple s Lib er a tion Army An ni ver sary (W11) (Scott 997), mar gin block of 4, o.g., never hinged, Very Fine. Estimate HK$ 1,000-1,500 2329 a 1968, Peo ple s Lib er a tion Army An ni ver sary (W11) (Scott 997), block of 8, o.g., never hinged; folded once hor i zon tally along perfs, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2330 a 1968, Peo ple s Lib er a tion Army An ni ver sary (W11) (Scott 997), bot tom mar gin block of 10, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2331 a 1968, Peo ple s Lib er a tion Army An ni ver sary (W11) (Scott 997), right mar gin im print block of 10, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2332 2333 2334 2335 2332 1968, Chair man Mao Goes to Anyuan (W12) (Scott 998), o.g., never hinged, Very Fine. Estimate HK$ 1,000-1,500 2333 1968, Chair man Mao Goes to Anyuan (W12) (Scott 998), o.g., never hinged, Very Fine. Estimate HK$ 1,000-1,500 2334 1968, Chair man Mao Goes to Anyuan (W12) (Scott 998), o.g., never hinged, fresh ex am ple, bright gum, a su pe rior ex am ple, Very Fine. Estimate HK$ 1,000-1,500 2335 1968, Chair man Mao Goes to Anyuan (W12) (Scott 998), o.g., never hinged, fresh ex am ple, bright gum, a su pe rior ex am ple, Very Fine. Estimate HK$ 1,000-1,500 2336 1968, Chair man Mao Goes to Anyuan (W12) (Scott 998), o.g., never hinged, Ex tremely Fine (photo on web site). Estimate HK$ 1,000-1,500 58 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives 2337 a 1968, Chair man Mao Goes to Anyuan (W12) (Scott 998), cor ner mar gin block of 4, o.g., never hinged, Fine to Very Fine. Estimate HK$ 9,000-10,000 2338 2339 2338 1968, Chair man Mao s In struc tion (W13) (Scott 999), o.g., never hinged, Very Fine. Estimate HK$ 2,000-3,000 2339 1968, Chair man Mao s In struc tion (W13) (Scott 999), o.g., never hinged, Ex tremely Fine (photo on web site). Estimate HK$ 2,000-3,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 59

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives A Great Rarity of the Cultural Revolution 2340 1968, The Whole Coun try is Red (W14) (Scott 999A), postally used, with neat, un ob tru sive cor ner can cel, a par tic u larly lovely ex am ple of this ever pop u lar rar ity, won der fully fresh; two tiny, shal low thin specks, oth - er wise Very Fine and choice. Estimate HK$ 250,000-350,000 60 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1967-1970 W Series Commemoratives 2341 2343 2341 a 1968, Hold Aloft Works of Chair man Mao (W16) (Scott 1000), right mar gin im print block of 4, o.g., never hinged, Very Fine. Estimate HK$ 800-1,200 2342 E 1969, The Red Lan tern (W17) es say (Scott 1005 var.), with out gum as is sued, im mac u late con di - tion, Very Fine; with 2014 PSE cer tif i cate (photo on web site). Estimate HK$ 500-600 2343 ( )a 1969, The Red Lan tern (W17) com plete (Scott 1005-1006), match ing up per left cor ner mar gin blocks of 4, with out gum as is sued, Very Fine. Estimate HK$ 1,500-2,000 2344 ( ) 1969, 8f Ag ri cul tural Work ers (W18) (Scott 1010), with out gum as is sued, fresh choice ex am ple, Su - perb; 2013 PSE cer tif i cate, graded Superb 98. Estimate HK$ 300-400 2345 ( ) 1969, 8f De fense of Chen Pao-tao (W19) (Scott 1011), with the bay o nets al most miss ing, with out gum as is sued, Very Fine; with 2014 PSE cer tif i cate (photo on web site). Estimate HK$ 700-800 2346 ( ) 1970, Peo ple s Lib er a tion Army (W20), Jin Xunhua (W21), Tak ing Ti ger Moun tain by Strat egy (N1) com plete (Scott 1045-1052), the year com plete, with out gum as is sued, Fine to Very Fine (photo on web site). Estimate HK$ 800-1,000 2347 ( )a 1970, Peo ple s Lib er a tion Army (W20) (Scott 1046), up per right mar gin block of 10 with im print, with - out gum as is sued; folded twice ver ti cally along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 2348 ( )a 1970, Peo ple s Lib er a tion Army (W20) (Scott 1046), up per right mar gin block of 10 with im print, with - out gum as is sued; folded twice ver ti cally along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 www.kelleherasia.com Sale 13 - Sep. 28, 2014 61

PEOPLE S REPUBLIC: 1970-1974 N Series Commemoratives 1970-1974 N Series Commemoratives Ex 2349 Ex 2350 2349 ( ) 1970, Tak ing Ti ger Moun tain by Strat egy (N1) com plete (Scott 1047-1052), with out gum as is - sued, Very Fine. Estimate HK$ 1,200-1,500 2350 1970, Tak ing Ti ger Moun tain by Strat egy (N1) com plete (Scott 1047-1052), o.g., never hinged, Very Fine. Estimate HK$ 800-1,000 2351 ( )a 1970, De fense of Chen Pao-tao (N2), perf 11½ (Scott 1053a), bot tom mar gin block of 50 with im - prints, with out gum as is sued; folded 3 times ver ti cally along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2352 ( )a 1970, De fense of Chen Pao-tao (N2), perf 11½ (Scott 1053a), left mar gin block of 50 with im prints, with out gum as is sued; folded 2 times hor i zon tally along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 Ex 2353 2353 ( ) 1971, Paris Com mune (N3) com plete (Scott 1054-1057), with out gum as is sued, fresh, Fine to Very Fine. Estimate HK$ 2,000-2,500 2354 ( ) 1971, Paris Com mune (N3) com plete (Scott 1054-1057), with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,700-1,900 2355 ( ) 1971, Paris Com mune (N3) com plete (Scott 1054-1057), with out gum as is sued (photo on web site). Estimate HK$ 1,500-2,000 2356 ( ) 1971, Paris Com mune (N3) com plete (Scott 1054-1057), with out gum as is sued; 4f nibbed cor ner per fo ra tion, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 62 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1970-1974 N Series Commemoratives Ex 2357 Ex 2358 2357 ( ) 1971, Chi nese Com mu nist Party 50th An ni ver sary (N4) com plete (Scott 1067-1075), in clud ing se-ten ant strip of three, with out gum as is sued, Very Fine. Estimate HK$ 2,500-2,700 2358 ( ) 1971, Chi nese Com mu nist Party 50th An ni ver sary (N4) com plete (Scott 1067-1075), in clud ing un - folded se-ten ant strip of 3, with out gum as is sued, Very Fine. Estimate HK$ 2,500-3,000 Ex 2359 Ex 2360 2359 ( ) 1971, Chi nese Com mu nist Party 50th An ni ver sary (N4) com plete (Scott 1067-1075), in clud ing folded along perfs se-ten ant strip of 3, with out gum as is sued, Very Fine. Estimate HK$ 2,500-3,000 2360 1971, Chi nese Com mu nist Party 50th An ni ver sary (N4) com plete (Scott 1067-1075), all mar gin sin gles, strip is in scrip tion, o.g., never hinged, Very Fine. Estimate HK$ 2,300-3,000 Ex 2361 2361 1971, Chi nese Com mu nist Party 50th An ni ver sary (N4) com plete (Scott 1067-1075), o.g., never hinged; strip of 3 folded be tween stamps, Very Fine. Estimate HK$ 2,000-3,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 63

PEOPLE S REPUBLIC: 1970-1974 N Series Commemoratives Ex 2362 Ex 2363 2362 1971, Chi nese Com mu nist Party 50th An ni ver sary (N4) com plete (Scott 1067-1075), all mar gin sin gles with the strip a cor ner mar gin with im print, o.g., never hinged, Very Fine. Estimate HK$ 2,000-2,500 2363 1971, Chi nese Com mu nist Party 50th An ni ver sary (N4) com plete (Scott 1067-1075), o.g., never hinged; folded strip, Very Fine. Estimate HK$ 2,000-2,600 Ex 2364 2364 / 1971, Chi nese Com mu nist Party 50th An ni ver sary (N4) com plete (Scott 1067-1075), imprint strip of 3 within set, o.g., only the im print mar gin of the strip is hinged, the stamps are never hinged, the red and yel low sin gles are hinged, Very Fine. Estimate HK$ 1,500-2,000 Ex 2365 2365 a 1971, Afro-Asian Ta ble Ten nis Tour na ment (N5) com plete (Scott 1076-1079), up per right cor ner mar gin im print blocks of 10, o.g., never hinged, un folded, very fresh, Ex tremely Fine. Estimate HK$ 4,000-4,500 64 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1970-1974 N Series Commemoratives Ex 2366 2366 ( ) 1972, Ships (N7) com plete (Scott 1095-1098), with out gum as is sued, Very Fine. Estimate HK$ 1,200-1,500 2367 ( ) 1972, Ships (N7) com plete (Scott 1095-1098), with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 600-700 2368 ( ) 1972, Talks at the Yenan Fo rum on Lit er a ture and Art (N8) com plete (Scott 1084-1089), match ing lower right mar gin pairs, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 Ex 2369 2369 a 1972, Talks at the Yenan Fo rum on Lit er a ture and Art (N8) com plete (Scott 1084-1089), match ing top mar gin im print blocks of 4, o.g., never hinged. Estimate HK$ 4,000-5,000 2370 ( )a 1972, Talks at the Yenan Fo rum on Lit er a ture and Art (N8) com plete (Scott 1084-1089), match ing right mar gin blocks of 8, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 6,400-8,000 2371 1972, Mao s Edict on Phys i cal Cul ture (N9) com plete (Scott 1090-1094), three sets, fresh and choice, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 65

PEOPLE S REPUBLIC: 1970-1974 N Series Commemoratives 2372 1972, Wang Chin-hsi (N10) (Scott 1103), five ex am ples, all with sel vage, a lovely se lec tion, Very Fine (photo on web site). Estimate HK$ 1,400 2373 a 1972, Wang Chin-hsi (N10) (Scott 1103), fif teen choice ex am ples, in cludes block of four and five with sel vage, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 4,500 2374 a 1972, First Asian Ta ble Ten nis Cham pi on ships (N11) com plete (Scott 1099-1102), imprint blocks of 4, o.g., never hinged, fresh, Very Fine (photo on web site). Estimate HK$ 2,000-2,500 2375 1972, First Asian Ta ble Ten nis Cham pi on ships (N11) com plete (Scott 1099-1102), six sets, fresh and bright, two sets with sel vage, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,000-2,500 2376 1972, Red Flag Ca nal (N12) com plete (Scott 1104-1107), in scrip tion sin gles, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,200-1,500 2377 a 1972, Red Flag Ca nal (N12) com plete (Scott 1104-1107), bot tom mar gin blocks of 4, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,000-3,000 2378 a 1972, Red Flag Ca nal (N12) com plete (Scott 1104-1107), matched up per right cor ner mar gin blocks of 10 with im print, o.g., never hinged; hor i zon tally folded twice along perfs, Very Fine (photo on web site). Estimate HK$ 4,000-5,000 2379 a 1972, Red Flag Ca nal (N12) com plete (Scott 1104-1107), matched lower right cor ner mar gin blocks of 10 with im print, o.g., never hinged; hor i zon tally folded twice along perfs, Very Fine (photo on web site). Estimate HK$ 4,000-5,000 2380 1973, The White-haired Girl (N13) com plete (Scott 1126-1129), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 600-700 Ex 2381 2381 1973, Gi ant Pan das (N14) com plete (Scott 1108-1113), o.g., never hinged, Very Fine. Estimate HK$ 1,400-2,000 2382 1973, Gi ant Pan das (N14) com plete (Scott 1108-1113), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 700-800 2383 a 1973, Work ing Women (N15) com plete (Scott 1114-1116), match ing bot tom mar gin im print blocks of 4, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 800-1,200 2384 a 1973, His tor i cal Rel ics (N16) com plete (Scott 1131-1142), blocks of 10, com plete in blocks of 10, o.g., never hinged; folded once ver ti cally through perfs, Very Fine (photo on web site). Estimate HK$ 3,200-4,000 66 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1970-1974 N Series Commemoratives Ex 2385 2385 1974, In dus trial Prod ucts (N17) com plete (Scott 1211-1214), o.g., never hinged, Very Fine. Estimate HK$ 1,700-1,900 2386 1974, In dus trial Prod ucts (N17) com plete (Scott 1211-1214), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2387 1974, In dus trial Prod ucts (N17) com plete (Scott 1211-1214), o.g., never hinged; usual off set on gum, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2388 1974, In dus trial Prod ucts (N17) com plete (Scott 1211-1214), o.g., never hinged; usual off set on gum, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2389 1974, In dus trial Prod ucts (N17) com plete (Scott 1211-1214), o.g., never hinged; usual off set on gum, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2390 1974, In dus trial Prod ucts (N17) com plete (Scott 1211-1214), o.g., never hinged; usual off set on gum, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2391 1974, In dus trial Prod ucts (N17) com plete (Scott 1211-1214), o.g., never hinged; usual off set on gum, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2392 a 1974, Bare foot Doc tors (N18) com plete (Scott 1190-1193), match ing left mar gin blocks of 6, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2393 a 1974, Bare foot Doc tors (N18) com plete (Scott 1190-1193), top and bot tom im print mar gin blocks of 10, o.g., never hinged; folded twice hor i zon tally, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2394 a 1974, Bare foot Doc tors (N18) com plete (Scott 1190-1193), matched bot tom mar gin blocks of 10, o.g., never hinged; folded twice ver ti cally, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2395 a 1973, Chil dren s Song and Dances (N19) com plete (Scott 1121a), com plete sheet of 10 strips of 5 with im prints, o.g., never hinged; one ver ti cal fold along perfs be tween strips, Very Fine (photo on web site). Estimate HK$ 2,000-2,500 www.kelleherasia.com Sale 13 - Sep. 28, 2014 67

PEOPLE S REPUBLIC: 1974-1991 J Series Commemoratives 1974-1991 J Series Commemoratives 2396 2397 2401 2396 1975, 8f 3rd Na tional Games (J6) (Scott 1237), o.g., never hinged, fresh choice ex am ple, Su perb; 2013 PSE cer tif i cate, graded Su perb 98. Estimate HK$ 300-400 2397 1975, 8f Learn ing From Tachai in Ag ri cul ture (J7) (Scott 1242), o.g., never hinged, per fect choice ex am ple, Su perb; 2013 PSE cer tif i cate, graded Su perb 98. Estimate HK$ 300-400 2398 1976, Ful fill ment of 4th Five-Year Plan (J8) com plete (Scott 1255-1270), all but one value with top or bot tom mar gin, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 800-1,000 2399 1976, Ful fill ment of 4th Five-Year Plan (J8) com plete (Scott 1255-1270), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 700-800 2400 1976, Ful fill ment of 4th Five-Year Plan (J8) com plete (Scott 1255-1270), two com plete sets, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2401 1976, 8f Swim ming in Yangtse River (J10) (Scott 1279), o.g., never hinged, fresh choice ex am ple, Su perb; 2013 PSE cer tif i cate, graded Su perb 98. Estimate HK$ 300-400 2402 a 1977, First An ni ver sary of Death of Chu De (J19) com plete (Scott 1345-1348), match ing left half sheets of 20, o.g., never hinged; each with one hor i zon tal fold along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2403 a 1977, 50th An ni ver sary of Peo ple s Lib er a tion Army (J20) com plete (Scott 1349-1353), top and bot tom mar gin blocks of 10, o.g., never hinged; each folded twice hor i zon tally along perfs, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2404 a 1977, Com mu nist Party Con gress (J23) com plete (Scott 1354-1356), top mar gin blocks of 10 with im prints, o.g., never hinged; each folded ver ti cally 5 times along perfs, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2405 a 1977, Com mu nist Party Con gress (J23) com plete (Scott 1354-1356), com plete sheets of 25, o.g., never hinged; each folded ver ti cally twice along perfs, Very Fine (photo on web site). Estimate HK$ 8,000-10,000 2406 a 1978, 5th Na tional Peo ple s Con gress (J24) com plete (Scott 1373-1375), match ing up per right mar gin blocks of 10 with im print, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 68 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1974-1991 J Series Commemoratives 2407 ( ) 1978, Na tional Sci ence Con fer ence sou ve nir sheet (J25M) (Scott 1383a), with out gum as is sued, Very Fine. Estimate HK$ 2,000-3,000 2408 ( ) 1978, Na tional Sci ence Con fer ence sou ve nir sheet (J25M) (Scott 1383a), with out gum as is sued, clean and fresh, Ex tremely Fine to Su perb; with 2014 PSE cer tif i cate, graded XF-Su perb 95 (photo on web site). Estimate HK$ 2,000-3,000 2409 1978, Na tional Sci ence Con fer ence sou ve nir sheet (J25M) (Scott 1383a), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,000-3,000 2410 1978, Na tional Sci ence Con fer ence sou ve nir sheet (J25M) (Scott 1383a), o.g., Very Fine (photo on web site). Estimate HK$ 2,000-3,000 2411 a 1978, Women Mar tyrs (J27) com plete (Scott 1379-1380), sheets of 50 with im prints, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2412 a 1978, Women Mar tyrs (J27) com plete (Scott 1379-1380), sheets of 50 with im prints, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2413 a 1978, Ningsia Hui Au ton o mous Re gion (J29) com plete (Scott 1444-1446), com plete sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2414 a 1978, Ningsia Hui Au ton o mous Re gion (J29) com plete (Scott 1444-1446), com plete sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2415 a 1978, 4th Na tional Women s Con gress (J30) (Scott 1434), two com plete sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2416 a 1978, Com mu nist Youth League Con gress (J32) (Scott 1441), com plete sheet of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2417 a 1978, Sign ing of Sino-Jap a nese Peace and Friend ship Treaty (J34) com plete (Scott 1442-1443), two sets of com plete sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 2418 a 1979, La bor Day (J35) (Scott 1474), 2 com plete sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 69

PEOPLE S REPUBLIC: 1974-1991 J Series Commemoratives 2419 a 1979, Al bert Ein stein (J36) (Scott 1468), 2 com plete sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2420 a 1979, May 1st Move ment (J37) com plete (Scott 1475-1476), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2421 a 1979, May 1st Move ment (J37) com plete (Scott 1475-1476), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2422 a 1979, In ter na tional Year of the Child (J38) com plete (Scott 1477-1478), com plete sheets of 40, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2423 a 1979, In ter na tional Year of the Child (J38) com plete (Scott 1477-1478), com plete sheets of 40, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2424 a 1979, Lit er ary and Art Work ers Con gress (J39) com plete (Scott 1525-1526), two com plete sets of sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 2425 1979, Riccione Ex hi bi tion sou ve nir sheet (J41M) (Scott 1492), o.g., never hinged, Very Fine. Estimate HK$ 3,000-4,000 2426 1979, Riccione Ex hi bi tion sou ve nir sheet (J41M) (Scott 1492), o.g., never hinged, Very Fine to Ex - tremely Fine; with 2014 PSE cer tif i cate, graded VF-XF 85 (photo on web site). Estimate HK$ 3,000-4,000 2427 1979, Riccione Ex hi bi tion sou ve nir sheet (J41M) (Scott 1492), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 3,000-4,000 2428 1979, Riccione Ex hi bi tion sou ve nir sheet (J41M) (Scott 1492), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 3,000-4,000 2429 1979, Riccione Ex hi bi tion sou ve nir sheet (J41M) (Scott 1492), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 3,000-4,000 2430 1979, Riccione Ex hi bi tion sou ve nir sheet (J41M) (Scott 1492), o.g., triv ial ad her ence; spot on gum, oth er wise Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2431 a 1979, Ju nior Na tional Sci en tific and Tech no log i cal Ex hi bi tion (J40) (Scott 1511), sheet of 80, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 2432 a 1979, Ju nior Na tional Sci en tific and Tech no log i cal Ex hi bi tion (J40) (Scott 1511), sheet of 80, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 70 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1974-1991 J Series Commemoratives 2433 1979, Hong Kong Ex hi bi tion sou ve nir sheet (J42M) (Scott 1541), o.g., never hinged, Choice Very Fine. Estimate HK$ 2,000-3,000 2434 1979, Hong Kong Ex hi bi tion sou ve nir sheet (J42M) (Scott 1541), o.g., never hinged, fresh and ir re - proach able con di tion, Very Fine to Ex tremely Fine; with 2014 PSE cer tif i cate, graded VF-XF 85 (photo on web site). Estimate HK$ 2,000-3,000 2435 1979, Hong Kong Ex hi bi tion sou ve nir sheet (J42M) (Scott 1541), with show can cel, Very Fine (photo on web site). Estimate HK$ 2,000-3,000 2436 1979, Hong Kong Ex hi bi tion sou ve nir sheet (J42M) (Scott 1541), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,000-3,000 2437 1979, Hong Kong Ex hi bi tion sou ve nir sheet (J42M) (Scott 1541), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2438 1979, 4th Na tional Games sou ve nir sheet (J43M) (Scott 1497), 10 sheets, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2439 a 1979, 30th An ni ver sary of Found ing of PRC (3rd Se ries) (J46) (Scott 1510), left mar gin block of 20 with im print, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 2440 a 1979, 30th An ni ver sary of Found ing of PRC (4th Se ries) (J47) com plete (Scott 1505a), in two top mar gin part sheets of 40 (20 un folded se-ten ant blocks of 4), o.g., never hinged; part sheets folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2441 a 1979, 30th An ni ver sary of Found ing of PRC (5th Se ries) (J48) com plete (Scott 1506-1509), sheets of 40, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2442 a 1979, Sta lin (J49) com plete (Scott 1555-1556), 100 sets in sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 2443 a 1980, In ter na tional Work ing Women s Day (J53) (Scott 1587), 2 com plete sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 2444 a 1980, Sci en tists of An cient China (3rd Se ries) (J58) com plete (Scott 1636-1639), matched top and bot tom mar gin blocks of 10 with im print, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,500-3,500 www.kelleherasia.com Sale 13 - Sep. 28, 2014 71

PEOPLE S REPUBLIC: 1974-1991 J Series Commemoratives 2445 a 1980, Ex hi bi tions of PRC in USA (J59) com plete (Scott 1626-1627), min ia ture sheets of twelve, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 6,000-6,500 2446 a 1980, Ex hi bi tions of PRC in USA (J59) com plete (Scott 1626-1627), min ia ture sheets of twelve, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 6,000-8,000 2447 a 1980, Dacia An ni ver sary (J61) (Scott 1628), 2 com plete sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2448 a 1980, China s Re turn to In ter na tional Olym pics (J62) com plete (Scott 1640-1644), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 3,200-3,600 2449 a 1981, Lu Xun (J67) com plete (Scott 1716-1717), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2450 a 1981, 70th An ni ver sary of 1911 Rev o lu tion (J68) com plete (Scott 1718-1720), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,200 2451 a 1981, In ter na tional Tele com mu ni ca tions Day and Ten Thou sand Li Postal Roads (J69-70) (Scott 1685-1686), com plete sheets of 50 and 56, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2452 a 1981, In ter na tional Tele com mu ni ca tions Day and Ten Thou sand Li Postal Roads (J69-70) (Scott 1685-1686), com plete sheets of 50 and 56, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2453 a 1981, China s Sweep of 36th World Ta ble Ten nis Cham pi on ships (J71) com plete (Scott 1692-1694), block of 4, 10 sets of 2 sheetlets, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,000-2,500 2454 a 1982, Tu ber cle Ba cil lus Dis cov ery, Birth day of Nie Er and Wa ter Sup ply and San i ta tion (J74, J75, J77) (Scott 1773-1775), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2455 a 1983, 60th An ni ver sary of Strike by Beijing-Hankow Rail way Work ers (J89) com plete (Scott 1838-1839), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2456 a 1983, Po ets and Phi los o phers of An cient China (1st Se ries) (J92) com plete (Scott 1872-1875), sheets of 20, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2457 a 1983, Po ets and Phi los o phers of An cient China (1st Se ries) (J92) com plete (Scott 1872-1875), sheets of 20, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2458 a 1983, Liu Shaoqi (J96) com plete (Scott 1890-1893), sheets of 40, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2459 a 1984, Olym pic Games (J103) com plete (Scott 1923-1928), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2460 a 1985, Ti bet Au ton o mous Re gion (J116) com plete (Scott 2000-2002), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2461 a 1985, Ti bet Au ton o mous Re gion (J116) com plete (Scott 2000-2002), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 72 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2462 a 1986, Cen te nary of Birth of Zhu De (J134) com plete (Scott 2068-2069), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,200-1,400 2463 a 1988, Mod ern Sci en tists (J149) com plete (Scott 2145-2148), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2464 a 1989, 40th An ni ver sary of Found ing of the PRC (J163) com plete (Scott 2236-2239), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,200 2465 1990, 11th Asian Games sou ve nir sheet (J172M) (Scott 2300a), 100 cop ies, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,600-1,800 1974-1991 T Series Commemoratives 2466 a 1974, Ac ro bat ics (T2) com plete (Scott 1149-1154), blocks of 4, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,200 2467 a 1974, Ac ro bat ics (T2) com plete (Scott 1149-1154), mar gin blocks of 4, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,200 2468 1974, Paint ings by Peas ants of Huxian Coun try (T3) (Scott 1184), o.g., never hinged, fresh choice ex am ple, Su perb; 2014 PSE cer tif i cate, graded Su perb 98. Estimate HK$ 300-400 2469 a 1974, Tachai Red Ban ner (T5) com plete (Scott 1199-1203), matched top mar gin blocks of 10 with im - prints, o.g., never hinged; folded twice through perfs, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2470 a 1975, Chi nese Mt. Ev er est Ex pe di tion (T15) com plete (Scott 1239-1241), blocks of 50, o.g., never hinged; no sel vage and 4 folds along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2471 a 1976, Suc cess of Pro le tar ian Ed u ca tion Sys tem (T18) com plete (Scott 1281-1285), match ing left mar gin blocks of 4, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 800-1,200 2472 a 1978, Chil dren s Health (T21) com plete (Scott 1400-1404), top or bot tom mar gin blocks of 40 with im prints ex cept for 20f, folded along perfs, sheet of 40, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2473 a 1978, Chil dren s Health (T21) com plete (Scott 1400-1404), top or bot tom mar gin blocks of 40 with im prints ex cept for 20f, folded along perfs, sheet of 40, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2474 a 1978, Chem i cal Fi ber In dus try (T25) com plete (Scott 1409a), 30 strips of 5, all in com plete sheets of 10 strips, o.g., never hinged; folded along perfs but not af fect ing strips, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 www.kelleherasia.com Sale 13 - Sep. 28, 2014 73

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2475 a 1978, Iron and Steel In dus try (T26) com plete (Scott 1415-1419), sheets of 35, o.g., never hinged; folded along perfs, Very Fine, rare (photo on web site). Estimate HK$ 4,000-6,000 2476 a 1978, Arts and Crafts (T29) com plete (Scott 1423-1432), var i ous sized mar ginal blocks of 10, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 800-1,200 2477 1978, Gal lop ing Horses sou ve nir sheet (T28M) (Scott 1399), o.g., never hinged, Very Fine. Estimate HK$ 3,000-4,000 2478 1978, Gal lop ing Horses sou ve nir sheet (T28M) (Scott 1399), o.g., never hinged, clean and ex em - plary con di tion, Very Fine to Ex tremely Fine; ac com pa nied with 2014 PSE cer tif i cate, and graded VF-XF 85 (photo on web site). Estimate HK$ 3,000-4,000 2479 1978, Gal lop ing Horses sou ve nir sheet (T28M) (Scott 1399), o.g., Very Fine (photo on web site). Estimate HK$ 2,000-2,500 2480 1978, Gal lop ing Horses sou ve nir sheet (T28M) (Scott 1399), o.g., never hinged; heavily wrin kled (photo on web site). Estimate HK$ 1,000-1,500 2481 1978, Arts and Crafts sou ve nir sheet (T29M) (Scott 1433), o.g., never hinged, Very Fine. Estimate HK$ 2,000-3,000 2482 1978, Arts and Crafts sou ve nir sheet (T29M) (Scott 1433), o.g., never hinged, fresh, Fine to Very Fine; with 2014 PSE cer tif i cate, graded F-VF 75 (photo on web site). Estimate HK$ 2,000-3,000 74 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2483 1978, Arts and Crafts sou ve nir sheet (T29M) (Scott 1433), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,000-3,000 2484 1978, Arts and Crafts sou ve nir sheet (T29M) (Scott 1433), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,000-3,000 2485 a 1978, High way Bridges (T31) com plete (Scott 1447-1451), mar ginal blocks of 40, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2486 1978, High way Bridges sou ve nir sheet (T31M) (Scott 1452), o.g., never hinged, Very Fine. Estimate HK$ 1,500-2,000 2487 1978, High way Bridges sou ve nir sheet (T31M) (Scott 1452), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2488 1978, High way Bridges sou ve nir sheet (T31M) (Scott 1452), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2489 1978, High way Bridges sou ve nir sheet (T31M) (Scott 1452), lightly can celed, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2490 a 1979, Tomb Paint ings from the War ring States Pe riod (T33) com plete (Scott 1469-1470), com - plete sheets of 28, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,400 2491 a 1979, Tomb Paint ings from the War ring States Pe riod (T33) com plete (Scott 1469-1470), com - plete sheets of 28, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,400 2492 1978, Ag ri cul tural Prog ress (T34) com plete (Scott 1457a), com prised of 10 strips of 5 in clud ing some pairs, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2493 a 1979, Rail way Con struc tion (T36) com plete (Scott 1527-1529), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2494 a 1979, Rail way Con struc tion (T36) com plete (Scott 1527-1529), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2495 a 1979, Ca mel lias (T37) com plete (Scott 1530-1539), match ing bot tom mar gin blocks of 40, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 6,400-7,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 75

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2496 1979, Ca mel lias sou ve nir sheet (T37M) (Scott 1540), o.g., never hinged, fresh and im pec ca ble, Ex - tremely Fine to Su perb; with 2014 PSE cer tif i cate, graded XF-Su perb 95. Estimate HK$ 1,500-1,700 2497 1979, Ca mel lias sou ve nir sheet (T37M) and Hong Kong Ex hi bi tion sou ve nir sheet (J42M) (Scott 1540, 1541), o.g., never hinged, a lovely pair, Very Fine (photo on web site). Estimate HK$ 5,000-6,000 2498 1979, Ca mel lias sou ve nir sheet (T37M) and Hong Kong Ex hi bi tion sou ve nir sheet (J42M) (Scott 1540, 1541), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 5,000-6,000 Ex 2499 2500 2499 1979, Great Wall and Riccione Ex hi bi tion sou ve nir sheets (T38M, J41M) (Scott 1483, 1492), o.g., never hinged, Very Fine. Estimate HK$ 3,600-4,500 2500 1979, Great Wall sou ve nir sheet (T38M) (Scott 1483), o.g., never hinged, fresh, Very Fine. Estimate HK$ 1,000-1,500 2501 1979, Great Wall sou ve nir sheet (T38M) (Scott 1483), o.g., never hinged, Very Fine to Ex tremely Fine; with 2014 PSE cer tif i cate, graded VF-XF 85 (photo on web site). Estimate HK$ 1.000-1,500 2502 / 1979, Great Wall sou ve nir sheet (T38M) (Scott 1483), two: one o.g., never hinged, other CTO, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2503 a 1979, Study Sci ence from Child hood (T41) com plete (Scott 1512-1517), matched bot tom mar gin blocks of 40 with im print, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 8,000-10,000 2504 a 1979, Scen ery of Tai wan Prov ince (T42) com plete (Scott 1519-1524), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 6,000-7,000 76 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2505 1979, Study Sci ence from Child hood sou ve nir sheet (T41M) (Scott 1518), o.g., never hinged, fresh and flaw less con di tion, Ex tremely Fine; with 2014 PSE cer tif i cate, graded XF 90. Estimate HK$ 8,000-9,000 2506 1979, Study Sci ence from Child hood sou ve nir sheet (T41M) (Scott 1518), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 8,000-10,000 2507 1979, Study Sci ence from Child hood sou ve nir sheet (T41M) (Scott 1518), o.g., lightly hinged once, Very Fine (photo on web site). Estimate HK$ 7,000-8,000 2508 1979, Study Sci ence from Child hood sou ve nir sheet (T41M) (Scott 1518), o.g., bits of hinge rem - nant, and triv ial ad her ence, Very Fine (photo on web site). Estimate HK$ 6,000-7,000 2509 a 1979, Clas si cal Novel Pil grim age to the West (T43) com plete (Scott 1547-1554), matched top and bot tom blocks of 10 with im print, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2510 a 1980, Qi Baishi Paint ings (T44) com plete (Scott 1557-1572), match ing right mar gin blocks of 10, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 8,000-10,000 2511 1980, Qi Baishi Paint ings sou ve nir sheet (T44M) (Scott 1573), o.g., never hinged, fresh, Very Fine. Estimate HK$ 1,500-2,200 2512 1980, Qi Baishi Paint ings sou ve nir sheet (T44M) (Scott 1573), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 77

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2513 1980, Qi Baishi Paint ings sou ve nir sheet (T44M) (Scott 1573), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2514 1980, Qi Baishi Paint ings sou ve nir sheet (T44M) (Scott 1573), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2515 1980, Qi Baishi Paint ings sou ve nir sheet (T44M) (Scott 1573), o.g., never hinged; small scuff in the right mar gin, Very Good; with 2014 PSE cer tif i cate, graded VG 50 (photo on web site). Estimate HK$ 500-600 2516 a 1980, Pe king Op era (T45) com plete (Scott 1574-1581), matched top and bot tom blocks of 10 with im - print, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2517 a 1980, Pe king Op era (T45) com plete (Scott 1574-1581), top and bot tom blocks of 10, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2518 2519 2520 2521 2522 2518 1980, Year of the Mon key (T46) (Scott 1586), o.g., never hinged, Very Fine. Estimate HK$ 8,000-12,000 2519 1980, Year of the Mon key (T46) (Scott 1586), o.g., never hinged, Very Fine. Estimate HK$ 8,000-12,000 2520 1980, Year of the Mon key (T46) (Scott 1586), o.g., never hinged, Very Fine; ac com pa nied with 2014 PSE certificate. Estimate HK$ 8,000-12,000 2521 1980, Year of the Mon key (T46) (Scott 1586), o.g., never hinged, Very Fine; ac com pa nied with 2014 PSE certificate. Estimate HK$ 8,000-12,000 2522 1980, Year of the Mon key (T46) (Scott 1586), o.g., never hinged, Very Fine; ac com pa nied with 2014 PSE certificate. Estimate HK$ 8,000-12,000 2523 2524 2523 1980, Year of the Mon key (T46) (Scott 1586), o.g., never hinged, Very Fine. Estimate HK$ 8,000-12,000 2524 1980, Year of the Mon key (T46) (Scott 1586), o.g., never hinged, Very Fine. Estimate HK$ 8,000-12,000 78 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2525 2526 2527 2525 1980, Year of the Mon key (T46) (Scott 1586), o.g., never hinged, Very Fine. Estimate HK$ 8,000-12,000 2526 1980, Year of the Mon key (T46) (Scott 1586), o.g. (small spot mount-glazed), Very Fine. Estimate HK$ 7,000-8,000 2527 1980, Year of the Mon key (T46) (Scott 1586), o.g., lightly hinged, Very Fine. Estimate HK$ 6,000-7,000 2528 a 1980, Year of the Mon key (T46) (Scott 1586), block of 4, o.g., never hinged; light fold be tween stamps, oth er wise Very Fine. Estimate HK$ 50,000-60,000 2529 a 1980, Beijing In ter na tional Air port (T47) com plete (Scott 1608-1609), com plete sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2530 a 1980, Beijing In ter na tional Air port (T47) com plete (Scott 1608-1609), com plete sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2531 a 1980, Af for es ta tion (T48) com plete (Scott 1588-1591), match ing top mar gin blocks of 40, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 2532 a 1980, Kites (T50) com plete (Scott 1603-1606), matched top and bot tom mar gin blocks of 10 with im - print, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2533 a 1980, Gudong (T51) com plete (Scott 1607), two com plete sheets of 10 strips of 4 + la bel, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 3,200-4,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 79

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2534 a 1980, Sila Deer (T52) com plete (Scott 1610-1612), match ing left mar gin blocks of 40, with im prints, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,000-2,400 2535 1980, Lo tus (T54, T54M) com plete, in clud ing sou ve nir sheet (Scott 1613-1617), o.g., never hinged, fresh, Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2536 a 1981, Scenes of Xishuang Banna (T55) com plete (Scott 1648-1653), match ing left and right mar gin blocks of 10 with im print, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2537 1980, Lo tus sou ve nir sheet (T54M) (Scott 1617), o.g., never hinged, Very Fine. Estimate HK$ 2,000-3,000 2538 1980, Lo tus sou ve nir sheet (T54M) (Scott 1617), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,000-3,000 2539 1980, Lo tus sou ve nir sheet (T54M) (Scott 1617), o.g., never hinged, Fine to Very Fine; with 2014 PSE cer tif i cate, graded F-VF 75 (photo on web site). Estimate HK$ 2,000-3,000 2540 1980, Lo tus sou ve nir sheet (T54M) (Scott 1617), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,000-3,000 2541 1980, Lo tus sou ve nir sheet (T54M) (Scott 1617), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,000-3,000 80 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2542 a 1980, Sochow Gar den (T56) com plete (Scott 1632-1635), matched left and right mar gin blocks of 10, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 3,500-4,500 2543 a 1980, Chi nese River Dol phin (T57) com plete (Scott 1645-1646), sheets of 20, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 800-1,000 2544 1981, Year of the Cock (T58) (Scott 1647), o.g., never hinged, fresh pris tine ex am ple, Su perb; 2013 PSE cer tif i cate, graded Su perb 98 (photo on web site). Estimate HK$ 800-1,000 2545 a 1981, Year of the Cock (T58) (Scott 1647), block of 4, o.g., never hinged, gor geous fresh block, Very Fine to Ex tremely Fine; 2013 PSE cer tif i cate, graded VF-XF 85 (photo on web site). Estimate HK$ 2,000-2,500 2546 a 1981, Year of the Cock (T58) (Scott 1647), left mar gin block of 10 with im print, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2547 a 1981, Year of the Cock (T58) (Scott 1647), up per right mar gin block of 30, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 4,000-5,000 2548 a 1981, Year of the Cock (T58) (Scott 1647), bot tom mar gin block of 40, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 6,400-7,000 2549 a 1981, Year of the Cock (T58) (Scott 1647), sheet of 80, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 15,000-18,000 2550 a 1981, Mark ing the Gun wale Fa ble (T59) (Scott 1664b), two sheets of 10 strips of 5 each, o.g., never hinged; folded along perfs, not af fect ing strips, Very Fine (photo on web site). Estimate HK$ 2,400-2,800 2551 a 1981, Pal ace Lan terns (T60) com plete (Scott 1654-1659), mar ginal blocks of 20, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2552 a 1981, Min ia ture Land scapes (T61) com plete (Scott 1665-1670), com plete sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 3,200-3,600 2553 a 1981, Stone For est (T64) com plete (Scott 1711-1715), sheets of 40, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 4,000-5,000 2554 a 1981, An cient Coins of China (1st Se ries) (T65) com plete (Scott 1740-1747), mar ginal blocks of 30 with im print, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,000-2,500 2555 a 1981, Ed ible Mush rooms (T66) com plete (Scott 1703-1708), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2556 a 1981, Lushan Moun tains (T67) com plete (Scott 1696-1702), im print blocks of 10, o.g., never hinged; folded, Very Fine (photo on web site). Estimate HK$ 1,200-1,800 www.kelleherasia.com Sale 13 - Sep. 28, 2014 81

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2557 1981, Dream of Red Man sions sou ve nir sheet (T69M) (Scott 1761), o.g., never hinged, Very Fine. Estimate HK$ 1,000-1,500 2558 1981, Dream of Red Man sions sou ve nir sheet (T69M) (Scott 1761), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2559 1981, Dream of Red Man sions sou ve nir sheet (T69M) (Scott 1761), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2560 1981, Dream of Red Man sions sou ve nir sheet (T69M) (Scott 1761), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2561 1981, Dream of Red Man sions sou ve nir sheet (T69M) (Scott 1761), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2562 1981, Dream of Red Man sions sou ve nir sheet (T69M) (Scott 1761), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2563 1981, Dream of Red Man sions sou ve nir sheet (T69M) (Scott 1761), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2564 1981, Dream of Red Man sions sou ve nir sheet (T69M) (Scott 1761), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2565 1981, Dream of Red Man sions sou ve nir sheet (T69M) (Scott 1761), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2566 a 1982-84, 3 New Year s Is sues (T70, T80, T90) (Scott 1764, 7832, 1900), sheets of 80, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 4,000-6,000 2567 a 1982, Year of the Dog (T70) (Scott 1764), com plete sheet of 80, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2568 a 1982, Year of the Dog (T70) (Scott 1764), com plete sheet of 80, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,400-3,000 2569 a 1982, Year of the Dog (T70) (Scott 1764), pris tine mint un folded sheet of 80, o.g., never hinged, Ex - tremely Fine; 2013 PSE cer tif i cate, graded XF 90 (photo on web site). Estimate HK$ 2,000-2,500 2570 a 1982, An cient Coins of China (2nd Se ries) (T71) com plete (Scott 1765-1772), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 3,000-3,500 82 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2571 a 1982, Me dic i nal Herbs (2nd Se ries) (T72) com plete (Scott 1779-1784), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 4,000-5,000 2572 / 1984, Sculp tures of the Liao Dy nasty sou ve nir sheet (T74M) (Scott 1820), in clud ing four never hinged sou ve nir sheets, first day cover & sou ve nir card is sued by the Amer i can Stamp Dealer s As so ci a tion, Very Fine (photo on web site). Estimate HK$ 1,000-1,200 2573 a 1982, Bronzes of West ern Zhou Dy nasty (T75) com plete (Scott 1824-1831), top and bot tom mar gin blocks of 10, o.g., never hinged; folded, Very Fine (photo on web site). Estimate HK$ 1,200-1,800 2574 a 1982, Bronzes of West ern Zhou Dy nasty (T75) com plete (Scott 1824-1831), matched left mar gin im print blocks of 10, o.g., never hinged; folded, Very Fine (photo on web site). Estimate HK$ 1,200-1,800 2575 a 1982, Fire Con trol (T76) com plete (Scott 1776-1777), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2576 a 1983, Swans (T83) com plete (Scott 1886-1889), match ing bot tom mar gin blocks of 40 with im prints, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 3,200-4,000 2577 a 1983, Paint ings by Chil dren (T86) com plete (Scott 1853-1856), sheets of 50, o.g., never hinged; folded laong perfs, Very Fine (photo on web site). Estimate HK$ 1,200-1,400 2578 a 1983, Terra Cotta War riors (T88) com plete (Scott 1859-1862), bot tom mar gin blocks of 40, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,000-2,400 2579 1984, Tang Beau ties Wear ing Flow ers sou ve nir sheet (T89M) (Scott 1904), o.g., never hinged, Very Fine. Estimate HK$ 1,000-1,500 2580 1984, Tang Beau ties Wear ing Flow ers sou ve nir sheet (T89M) (Scott 1904), group of three, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2581 1984, Year of the Rat (T90) (Scott 1900), o.g., never hinged, fresh pris tine ex am ple, Su perb; 2013 PSE cer tif i cate, graded Su perb 98 (photo on web site). Estimate HK$ 300 2582 a 1984, Year of the Rat (T90) (Scott 1900), lower right cor ner mar gin block of 30 with im print, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2583 a 1984, Chi nese Roses (T93) com plete (Scott 1905-1910), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2584 a 1984, Paint ings of Wu Changshuo (T98) com plete (Scott 1930-1937), sheets of 40; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,200-1,500 www.kelleherasia.com Sale 13 - Sep. 28, 2014 83

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2585 1984, Scenes from The Pe ony Pa vil ion sou ve nir sheet (T99M) (Scott 1955), nine cop ies of the sou ve nir sheet, also in cludes blocks of four #1951-1954 (Yang T465-468), o.g., never hinged, Very Fine. Estimate HK$ 1,500-2,000 2586 a 1985, Year of the Ox (T102) (Scott 1966), im mac u late mint un folded sheet of 80, o.g., never hinged, Su perb; 2013 PSE cer tif i cate, graded Sup 98 (photo on web site). Estimate HK$ 1,000-1,500 2587 a 1985, Year of the Ox (T102) (Scott 1966), pris tine mint un folded sheet of 80, o.g., never hinged, Ex - tremely Fine to Su perb; 2013 PSE cer tif i cate, graded XF-Sup 95 (photo on web site). Estimate HK$ 800-1,000 2588 a 1985, Gi ant Pan das (T106) com plete (Scott 1983-1986), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,000-2,400 2589 a 1986, Space Flight (T108) com plete (Scott 2020-2025), sheets of 40, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,400-1,700 2590 a 1986, White Cranes (T110) com plete (Scott 2033-2035), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 800-1,000 2591 a 1987, Year of the Rab bit (T112) (Scott 2074), com plete sheet of 80, o.g., never hinged, Su perb; 2013 PSE cer tif i cate, graded Sup 98 (photo on web site). Estimate HK$ 900-1,200 2592 a 1987, Year of the Rab bit (T112) (Scott 2074), pris tine mint un folded sheet of 80, o.g., never hinged, Ex tremely Fine to Su perb; 2013 PSE cer tif i cate, graded XF-Sup 95 (photo on web site). Estimate HK$ 900-1,200 2593 a 1987, Year of the Rab bit (T112) (Scott 2074), pris tine mint un folded sheet of 80, o.g., never hinged, Ex tremely Fine to Su perb; 2013 PSE cer tif i cate, graded XF-Sup 95 (photo on web site). Estimate HK$ 800-1,200 2594 a 1986, Sports of An cient China (T113) com plete (Scott 2070-2073), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,400-1,800 2595 a 1987, Ru ral De vel op ment (T118) com plete (Scott 2098-2101), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,200-1,400 2596 a 1987, Fairy Tales of An cient China (T120) com plete (Scott 2110-2115), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 1,200-1,400 2597 a 1987, An cient Build ings (T121) com plete (Scott 2117-2120), sheets of 50, o.g., never hinged; folded along perfs, Very Fine (photo on web site). Estimate HK$ 2,000-2,400 84 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1974-1991 T Series Commemoratives 2598 1988, Year of the Dragon (T124) (Scott 2131), o.g., never hinged, fresh choice ex am ple, Su perb; 2013 PSE cer tif i cate, graded Su perb 98. Estimate HK$ 300-400 2599 1988, Year of the Dragon (T124) (Scott 2131), o.g., never hinged, fresh pris tine ex am ple, Su perb; 2012 PSE cer tif i cate, graded Su perb 98 (photo on web site). Estimate HK$ 300-400 2600 a 1988, Year of the Dragon (T124) (Scott 2131), group of four com plete sheets with usual im prints on sel vage, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2601 a 1988, Year of the Dragon (T124) (Scott 2131), pris tine mint un folded sheet of 80, o.g., never hinged, Ex tremely Fine to Su perb; 2013 PSE cer tif i cate, graded XF-Sup 95 (photo on web site). Estimate HK$ 1,000-1,500 2602 a 1988, Year of the Dragon (T124) (Scott 2131), ex cep tional choice sheet of 80, o.g., never hinged, Su - perb; 2013 PSE cer tif i cate, graded Su perb 98 (photo on web site). Estimate HK$ 300-400 2603 a 1988, Year of the Dragon (T124) (Scott 2131), group of four com plete sheets with usual im prints on sel vage, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2604 1991, Year of the Sheep (T159) (Scott 2315), o.g., never hinged, fresh pris tine ex am ple, Su perb; 2013 PSE cer tif i cate, graded Su perb 98 (photo on web site). Estimate HK$ 300-400 2605 1989, Year of the Snake (T133) (Scott 2193), o.g., never hinged, fresh pris tine ex am ple, Su perb; 2013 PSE cer tif i cate, graded Su perb 98 (photo on web site). Estimate HK$ 1,000-1,500 2606 a 1989, Year of the Snake (T133) (Scott 2193), pris tine mint un folded sheet of 80, o.g., never hinged, Ex tremely Fine to Su perb; 2013 PSE cer tif i cate, graded XF-Sup 95 (photo on web site). Estimate HK$ 1,000-1,500 2607 a 1989, Year of the Snake (T133) (Scott 2193), pris tine mint un folded sheet of 80, o.g., never hinged, Ex tremely Fine to Su perb; 2013 PSE cer tif i cate, graded XF-Sup 95 (photo on web site). Estimate HK$ 1,000-1,500 2608 a 1990, Year of the Horse (T146) (Scott 2258), choice mint un folded sheet of 80, o.g., never hinged, Very Fine to Ex tremely Fine; 2013 PSE cer tif i cate, graded VF-XF 85 (photo on web site). Estimate HK$ 800-1,000 2609 a 1990, Year of the Horse (T146) (Scott 2258), choice mint un folded sheet of 80, o.g., never hinged, Very Fine to Ex tremely Fine; 2013 PSE cer tif i cate, graded VF-XF 85 (photo on web site). Estimate HK$ 800-1,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 85

PEOPLE S REPUBLIC: 2000 Year Order Series Commemoratives 2000 Year Order Series Commemoratives 2610 a 2000, Year of the Dragon (2000-1) com plete (Scott 3000-3001), com plete sheets of 32, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 3,200-4,000 2611 a 2000, Year of the Dragon (2000-1) com plete (Scott 3000-3001), com plete sheets of 32, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 3,200-4,000 2612 a 2000, Year of the Dragon (2000-1) com plete (Scott 3000-3001), com plete sheets of 32, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 3,200-4,000 Definitive Issues 2613 ( )a 1950, Tien An Men 2nd Is sue (R2) com plete (Scott 21-23), mar ginal blocks of 50 with im prints, with - out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,200-1,800 2614 2615 2616 2617 2618 2614 ( ) 1950, $10,000 Tien An Men 2nd Is sue (R2) (Scott 23), with out gum as is sued, spec tac u lar choice ex - am ple, Su perb; 2013 PSE cer tif i cate, graded Superb 98. Estimate HK$ 300-400 2615 ( ) 1950, Tien An Men 3rd Is sue (R3) com plete (Scott 65-71), with out gum as is sued, Fine to Very Fine. Estimate HK$ 1,500-2,000 2616 ( ) 1950, Tien An Men 3rd Is sue (R3) com plete (Scott 65-71), with out gum as is sued, Fine to Very Fine. Estimate HK$ 1,200-1,400 2617 ( ) 1950-51, Tien An Men 4th Is sue (R4) com plete (Scott 85-94), with out gum as is sued, Very Fine. Estimate HK$ 1,800-2,200 2618 1951, $100,000 Tien An Men 5th Is sue (R5) (Scott 99), neat cor ner can cel, fresh, Very Fine. Estimate HK$ 1,200-1,600 2619 ( )a 1953, Oc cu pa tions and Views definitives (R6) com plete (Scott 177-182), 20 sets, in var i ous sized mul ti ples, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,200-1,600 2620 ( )a 1954, Tien An Men 6th Is sue (R7) com plete (Scott 206-213), 50 sets, all but one sin gle in blocks of 4 or larger, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 1,600-2,000 2621 ( )a 1955-56, Work ers, Peas ants and Sol diers definitives (R8) com plete (Scott 273-281), blocks of 10, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 3,200-4,000 86 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: 1950-1951 Surcharged Definitives 2622 2623 2624 2622 ( ) 1955, 8f Foundry Worker (R8), perf 12½, Shang hai print ing (Scott 278a), with out gum as is sued, Fine to Very Fine. Estimate HK$ 1,500-2,000 2623 ( ) 1969, 8f Foundry Worker (RW2), perf 11½ (Scott 1017a), ex cep tional choice ex am ple, with out gum as is sued, Su perb; 2014 PSE cer tif i cate, graded Su perb 98. Estimate HK$ 300-400 2624 ( ) 1974, Revolutionary Monuments: Lushan (R16) (Scott 1175), ex cep tional choice ex am ple, with out gum as is sued, Su perb; 2013 PSE cer tif i cate, graded Superb 98. Estimate HK$ 300-400 1950-1951 Surcharged Definitives 2625 ( )a 1950, $500 sur charge on Unit stamp (SC1), perf 14 (Scott 27a), right side mar gin block of 100, with - out gum as is sued; folded once through perfs, Very Fine (photo on web site). Estimate HK$ 12,000-15,000 2626 Ex 2628 Ex 2629 2630 2626 ( ) 1950, $20,000 on $10,000 East China stamp (SC2) (Scott 30), with out gum as is sued, Very Fine. Estimate HK$ 3,000-4,000 2627 ( ) 1950, $20,000 on $10,000 East China stamp (SC2) (Scott 30), with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 2,400-2,600 2628 ( ) 1950, Sur charges on N.E. China Sun Yat-sen (SC3) com plete (Scott 35-48), with out gum as is sued, Very Fine. Estimate HK$ 3,000-4,000 2629 ( ) 1950, Sur charges on N.E. China Sun Yat-sen (SC3) com plete (Scott 35-48), with out gum as is sued, Fine to Very Fine. Estimate HK$ 1,400-1,600 2630 ( ) 1950, $100 on $4 N.E. China Sun Yat-sen (SC3), 1st print ing (Scott 40a), with out gum as is sued, Fine to Very Fine; 1999 BPA cer tif i cate. Estimate HK$ 2,500-3,000 2631 ( )a 1951, Sur charges on Unit stamps, N.E. use (SC8) com plete (Scott 101-104), blocks of 50 with im - prints, with out gum as is sued; a num ber of folds along perfs, Very Fine (photo on web site). Estimate HK$ 4,000-5,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 87

PEOPLE S REPUBLIC: Military Stamps 2632 ( )a 1951, Sur charges on Money Or der Stamps (SC10) com plete (Scott 111-116, 116a), com prised of perf 12½ com plete in blocks of 50 plus $50 on $50 perf 11 block of 45, with out gum as is sued; some sep a ra tions, Very Fine (photo on web site). Estimate HK$ 1,800-2,200 Military Stamps 2633 ( ) Mil i tary Stamp, 1953, Air Force (M1), $800 or ange yel low, ver mil ion & purple (Scott M1 var.), with out gum as is sued, bright and well cen tered, Very Fine. Estimate HK$ 15,000-20,000 2634 2635 2634 ( ) Mil i tary Stamp, 1953, Army (M1), $800 yel low, or ange & red (Scott M1), with out gum as is sued, Very Fine. Estimate HK$ 1,500-2,000 2635 ( ) Mil i tary Stamp, 1953, Army (M1), $800 yel low, or ange & red (Scott M1), with out gum as is sued, bright, Very Fine. Estimate HK$ 1,500-2,000 Booklets 2636 Book let, 1980, Gu Dong (SB1) (Scott 1607e var.), book let pane and cover, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 2,000-2,200 2637 Book let, 1980, Gu Dong (SB1) (Scott 1607e var.), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 6,000-8,000 2638 Book let, 1980, Gu Dong (SB1) (Scott 1607e var.), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 6,000-8,000 88 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: Booklets 2639 Book let, 1980, Gu Dong (SB1) (Scott 1607e var.), o.g., never hinged, Very Fine. Estimate HK$ 6,000-8,000 2640 Book let, 1981, Year of the Cock (SB3) (Scott 1647a), book let pane of 6, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 700-800 2641 Book let, 1981, Year of the Cock (SB3) (Scott 1647a var.), o.g., never hinged, Very Fine. Estimate HK$ 1,500-2,000 2642 Book let, 1981, Year of the Cock (SB3) (Scott 1647a var.), o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2643 Book lets, 1980-81, As sort ment (SB2-4) (Scott 1645a-46a,1647a,1664a), group of six, o.g., never hinged, Fine to Very Fine (photo on web site). Estimate HK$ 4,000-4,500 2644 Booklets, Strong Selection (SB2//22). Short only SB7 but with ex tra Yang SB2, SB8(2), SB9, SB15, SB16 and SB17, o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 www.kelleherasia.com Sale 13 - Sep. 28, 2014 89

PEOPLE S REPUBLIC: Collections Collections 2645 Ex cep tion ally Fresh Never Hinged Col lec tion, 1949-2011. Mounted in 4 Scott al bums. With the ex - cep tion of the Cul tural Rev o lu tion Pe riod col lec tion shows a high de gree of com plete ness with good value through - out in clud ing Scott 12-20, 31-34, 35-48, 245a-48a, 326-29, 344a, 351-54, 355-57, 374-76, 438-40, 487-89, 499-503, 506-17, 525-26, 540-41, 612-14, 639-46, 661-80, 681-83, 708-10, 713-15, 732-36, 758-59, 760-65, 757-81, 783-90, 795, 863-73, 886-90, 927-29, 936-37, 1047-52, 1076-79, 1084-89, 1091-94, 1095-98, 1104-07, 1108-13, 1126-29, 1255-70, 1383a, 1483, 1540, 1541, 1547-54, 1557-72, 1617, 1844, 1904 etc. Pris tine, Very Fine (photo on web site). Estimate HK$ 130,000-150,000 2646 / Mostly Mint Col lec tion, 1949-2013. Mounted in twelve Fi del ity al bums, better noted in clude 1950 (12-20), 1955 (243-44), 1955-56 (249-66), 1955 (267-70), 1957 (321-25 & 326-29), 1958 (345-46, 347-48 & 349-50), 1958 (344a), 1958 (351-54 & 355-57), 1958 (370-71 & 374-76), 1959 (398-401 & 402-04), 1959 (413-15), 1959 (416-17 & 418-19), 1959 (438-40 & 441-44), 1959 (445-52), 1959 (456), 1960 (487-89), 1960 (494-96), 1960 (499-501), 1960 (504-05), 1960 (518-22), 1960 (525-26), 1960 (540-41), 1960-61 (542-59), 1961 (561-62), 1961 (569-73), 1961 (586-87, 588-89 & 590-91), 1961 (592-99), 1961 (600-604), 1962 (612-14), 1962 (615-17), 1962 (635-36), 1962 (639-46), 1963 (681-83), 1963 (713-15, im per fo rates), 1963 (748-49), 1964 (760-65), 1964 (783-90), 1964 (795), 1964 (798b), 1964 (818-20), 1965 (834-41), 1965 (859-62), 1965 (863-73), 1965 (886-90), 1966 (899-906), 1966 (919), 1966 (920-23), 1966 (924-26), 1967 (927-29), 1967 (930-35), 1967 (936-37), 1967 (960-64), 1968 (991), 1968 (998), 1968 (999), 1969 (1001-1004), 1969 (1005-06 & 1007-10), 1969 (1011-15), 1970 (1047-52), 1971 (1074a), 1971 (1076-79), 1972 (1084-89), 1972 (1095-98), 1972 (1104-07), 1973 (1108-13), 1973 (1126-29) & 1974 (1211-14). We also noted all sets in blocks of four from 1989 on wards, 200 first day cov ers is sued in the 1980s-1990s and many book lets. Scott value in ex cess of U.S. $38,000, and a golden op por tu nity to ac quire a well-or ga nized col lec tion with a wealth of de sir able sets, sin gles and sou ve nir sheets, Fine to Very Fine (photo on web site). Estimate HK$ 80,000-100,000 2647 Mint Never Hinged Stock. Com prised of lit er ally thou sands of clean, per fect qual ity mint sets, all in Scott num bered glass ines with cov er age to 2010, housed in 5 long boxes. Just a sam pling of the pre mium items shows Scott 194-97(8), 222-24(7), 245-48(3), 337-40(4), 358-59(3), 367-69(6), 389-91(7), 413-15(8), 567-68(5), 639-46(2), 702-07(2), 737-45(5), 746-47(8), 750-55(5), 828-32(6), 891-98(6), 907-16(10), 1131-42(3), 1163-78(9), 1181-86(6), 1187-89(4), 1222-27(5), 1228-31(3), 1250-54(4), 1271-74(3) and lengthy runs to sets, of ten in in creas - ing quan ti ties from there. A su perb, well-or ga nized lot, per fectly set up for the trader, a won der ful op por tu nity, rou - tinely Very Fine (photo on web site). Estimate HK$ 60,000-70,000 Please Visit Our Web Site! www.kelleherasia.com Check our web site for additional photos of many lots. The lots are fully searchable by a variety of criteria: text, country, Scott number and more. And - you can bid on the sale interactively, review your bids, check results and much more. 90 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: Collections 2648 Never Hinged Col lec tion, 1949-1990. In three Fi del ity hinge less al bums with a large amount of de sir - able sets & sin gles such as 1949 (5-7), 1950 (12-20), 1950 (57-59), 1950 (72-73), 1950 (74-76), 1951 (97-98), 1951 (108-110), 1951 (117-121), 1951-52 (124-27), 1952 (132-35), 1955 (243-44), 1955-56 (249-66), 1955 (267-68), 1955 (269-70), 1955 (271-72), 1955-58 (273-81), 1956 (301-303), 1957 (313-16), 1957 (321-25), 1957 (326-29), 1958 (345-46), 1958 (347-48), 1958 (351-54), 1958 (355-57, plus 357a in used con di tion), 1958 (360-61), 1958 (364-66), 1958 (374-76), 1959 (398-401), 1959 (402-404), 1959 (413-15), 1959 (416-17), 1959 (418-19), 1959 (426-37), 1959 (438-40), 1959 (441-44), 1959 (445-52), 1959 (453-55), 1959 (457-62), 1959 (467-82), 1960 (494-96), 1960 (497-98), 1960 (499-501), 1960 (504-505), 1960 (523-24), 1960 (525-26), 1960 (527-28), 1960 (531-35), 1960 (536-37), 1960 (540-41), 1961 (561-62), 1961-62 (574-85), 1961 (588-89, plus 588a), 1961 (590-91), 1962 (606-609), 1962 (610-11), 1962 (612-14), 1962 (639-46), 1963 (681-83), 1963 (684-95), 1963 (708-10), 1963 (713-15), 1963 (732-36), 1964 (748-49), 1964 (758-59), 1964 (760-65), 1964 (783-90), 1964 (795), 1964 (804-05), 1964 (810-17), 1966 (919), 1967 (938), 1967 (981), 1968 (1000), 1969 (1001-1004), 1969 (1005-1006), 1969 (1007-10), 1969 (1011-15), 1971 (1076-79), 1971 (1080-83), 1972 (1084-89), 1972 (1090-94), 1972 (1099-1102), 1972 (1103 & 1104-07), 1973 (1114-16), 1973 (1122-25), 1973 (1131-42), 1974 (1143-48), 1974 (1149-54), 1974 (1190-93), 1975 (1215-17), 1975 (1218-21), 1975 (1222-27, plus tete-beche pairs), 1975 (1228-31), 1976 (1281-85), 1977 (1354-56), 1978 (1389-98), 1979 (1497 & 1501), 1979 (1547-54), 1980 (1557-72), 1980 (1574-81), 1980 (1618-25), 1980 (1632-35 & 1636-39), 1980 dol phin book let, 1981-82 (1750-60), fol lowed by a vir tu ally com plete sec tion of sets, sin gles, sou ve nir sheets & book lets is sued in the pe riod, and in clud - ing some air mails. A great col lec tion of this pop u lar coun try, in spec tion in vited, Very Fine (photo on web site). Estimate HK$ 55,000-65,000 2649 / / Mostly Mint Ac cu mu la tion, 1949-2004. As ton ish ing prop erty in six stock books with some du pli ca - tion, loaded with de sir able and mar ket able sets, sin gles, sou ve nir sheets, com plete sheets, book lets and some first day cov ers. Better sets or sin gles (mint un less de noted) in clude: 1958 (351-54), 1958 (360-61), 1958 (364-66), 1958 (374-76), 1959 (453-55), 1960 (494-96), 1960 (531-35 x4), 1960 (536-37 x4), 1961 (590-91), 1962 (624-27), 1962 (639-46), 1963 (655-60), 1963 (711-12 x2), 1963 (732-35 x2), 1964 (748-49 x2), 1964 (758-59), 1965 (842-49, used), 1966 (920-23, used), 1966 (924-26, used), 1967 (930-35, used), 1967 (960-64, used), 1967 (965-66, NH), 1968 (991, used), 1968 (999, NH), 1973 (1108-13, NH), 1973 (1121a, NH), 1975 (1215-17 x2), 1975 (1222-27, set & tete-beche pairs, NH), 1975 (1232-38 x3, NH), 1976 (1255-70 x2, NH), 1976 (1278-80 x3), 1980 (1574-81 x2), 1980 (1618-25 x3, NH), 1980 (1632-35 x2, NH), 1980 (1636-39 x3, NH), 1981 (1654-59 x6, NH), plus some lib er ated ar eas ex am ples. This is a Dealer s Dream with a with an enor mous cat a log value. Sim ply a won der - ful lot, Fine to Very Fine (photo on web site). Estimate HK$ 45,000-55,000 2650 / Large Accumulation. With many com plete sets both mint, mostly NH, in clud ing NE162-71, C72, C107, C116, C124, S63, W17, T1, T7 in pairs, T44M, and used in clud ing C47M, C122, C123, S38(2), S44, S56, S67. Packed with many blocks and a num ber of com plete sheets there is plenty of value for the col lec tor and dealer. Clean and fresh, ex am ine, gen er ally Very Fine (photo on web site). Estimate HK$ 40,000-50,000 2651 / Mas sive Sou ve nir Sheet Stock, beau ti ful and clean, per fectly as sem bled stock of many, many hun - dreds in man age able quan ti ties all iden ti fied by Scott and Yang num bers, be gin ning with Yang T72 and con tin u ing on nearly to date. A sam pling of items shows J25M(12), T79M(5), T74M(3), T82, T88M(5), T89M(3), T99M(5) and long runs from there in sim i lar or larger quan ti ties, mostly never hinged, an ex cel lent lot of these pop u lar is sues, well worth in spec tion, rou tinely Very Fine (photo on web site). Estimate HK$ 40,000-50,000 2652 Mas sive Mint and Used Stock. In 9 large Elbe stockbooks, com prised of many thou sands in all, iden ti - fied by Scott num bers, and du ti fully ar ranged in mint or used sec tions. In cludes 7 stockbooks of uni fied and 2 for Lib - er ated area is sues, with vary ing quan ti ties of is sues. Be sure to in ves ti gate the Cul tural Rev o lu tion sec tion, as there is much of use to be found within. A vast hold ing, not of ten seen these days, a care ful in spec tion in vited, mostly Fine to Very Fine or better (photo on web site). Estimate HK$ 35,000-45,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 91

PEOPLE S REPUBLIC: Collections 2653 Pow er ful All Mint Col lec tion, 1950-2011. Housed in three well filled vol umes and packed with value. With many better com plete sets in clud ing Scott 57-59, 60-64, 141-50 in pairs, 467-82, 639-46, 1011-15, 1099-1102, 1255-70, 1547-54, 1557-72, 1632-35, 1749-61 and vir tu ally com plete from that point on with nu mer ous book lets, ex hi bi tion sheets etc. You will also find a small en ve lope stuffed with value in clud ing nu mer ous Gate de fin i tive is - sues with some Lib er ated is sues, 8 dif fer ent val ues from Mao s Po ems is sues, from Yang W7 as well as a use ful range of CTO ed is sues. Over all clean, fresh and well worth the time to evaluate, Very Fine (photo on web site). Estimate HK$ 30,000-40,000 2654 / Im pres sive and Ex ten sive Mint Stock of Min ia ture Sheets and Se-ten ant Strips. Clean, per fectly or ga nized and iden ti fied stock of many, many hun dreds of items, mostly all in man age able quan ti ties, iden ti fied by both Scott and Yang num bers in 4 bind ers. In cludes a strong run of min ia ture sheets as listed in Yang, plus strips back to 1980. A su perb, clean lot for break down, gen er ally Very Fine (photo on web site). Estimate HK$ 22,000-26,000 2655 Use ful Con sign ment Bal ance to 1987. Housed in a pair of nice Fi del ity al bums, the par ent col lec - tion of many nice sin gle lots in this sale, still with good value re main ing, in clud ing a wide range of better sets, sin gles, good book lets, some sou ve nir sheets and more (photo on web site). Estimate HK$ 20,000-30,000 2656 Small but Valu able Se lec tion. Housed in a small stockbook, in clud ing a good va ri ety of better items in clud ing Scott 1547-54, 1586 Mon key New Year, 1433 and oth ers. We also note 3 il lus trated pic ture post cards made from ear lier China Stamps and other odds and ends. Clean, a nice lot, gen er ally o.g., never hinged, Very Fine (photo on web site). Estimate HK$ 15,000-18,000 2657 Splendid Mint Selection. Com prised mostly of pre mium sets in tip-top con di tion, in clud ing better like Scott 716-31, 828-32, 1047-52, 1054-57, 1080-83, 1084-89, 1090-94, 1095-98, 1108-13, 1114-16, 1122-25, 1126-29, etc. Fresh, nice lot, o.g., never hinged, gen er ally Very Fine (photo on web site). Estimate HK$ 15,000-20,000 2658 Ex ten sive Book let Stock. Com prised of many hun dreds of items, all neatly ar ranged in in di vid ual glass ines and iden ti fied by both Scott and Yang num bers. There are lit er ally doz ens of better items such as Scott 1645a-46a(3), 1664a(3), 1678a(10), 1764a(2), 1789a(2), 1832a, 1863a(2), 1889a(8), 1900a(4) with in creas ing quan ti ties from this point nearly to date. A fan tas tic lot for the trader as all is ready to go, ex am ine, Very Fine (photo on web site). Estimate HK$ 12,000-16,000 2659 / Ex cep tional Deal ers Stock of Mint and Used. Com prised of sev eral hun dred iden ti fied and mostly housed on counterbook pages. Loaded with many com plete sets, there is ex cel lent value to be found through out in - clud ing MNH Scott 364-66, 426-37, 494-96, 531-35(2), 569-73, 600-04, 612-14, 639-46, 795, 804-05, 1074a, 1099-1102, 1143-48, 1190-93(2), 1218-21, 1232-38, 1557-72, 1574-81, C6-9, and used 795, 859-62 plus more. An ex cel lent stock well worth the time re quired to view., post of fice fresh, over all Very Fine (photo on web site). Estimate HK$ 10,000-15,000 2660 Early Sets, Orig i nal and Re print Is sues, 1949-50. Use ful old time se lec tion on a cou ple stockcards by Scott num bers in clud ing 1-4(3), 5-7(3), 31-34 plus 2 re print sets, 60-64 plus 3 re print sets, 1L121-24, 1L150-53(3 re print sets) and lots mo rel All iden ti fied, with good value in orig i nal print sets, ex am ine, Fine to Very Fine or better (photo on web site). Estimate HK$ 6,000-8,000 2661 / Use ful Mint and Used Stock to About 1962. Com prised of many hun dreds neatly ar ranged on stock pages with many com plete sets in clud ing mint 108-10, 117-21 (2 sets of orig i nals), 245-48, 304-05, 441-44, 445-52, 523-24, 531-35, 538-39, 563-66 and 592-99. A highly use ful clean stock, very clean, much is Very Fine (photo on web site). Estimate HK$ 5,000-6,000 2662 / Mis cel la neous Se lec tion on Al bum Pages. Com prised mainly of Uni fied ma te rial in clud ing Scott 1-11,31-34, 713-15 imperf, 1497, 1501 as well as a bit of Lib er ated area ma te rial in clud ing a cou ple East China cov - ers, ex am ine, gen er ally Very Fine (photo on web site). Estimate HK$ 4,500-5,500 92 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: Year Sets 2663 Chairman Mao Cultural Revolution Button Accumulation. Ex ten sive col lec tion of over 300 items, all as sem bled dur ing the era, nearly all dif fer ent, in clud ing a won der ful range of de signs, sizes dif fer ent me di ums, etc. Lovely re mem brance of the times, ex am ine, Fine to Very Fine (photo on web site). Estimate HK$ 4,000-6,000 2664 / Useful Collection. Housed in two vol umes, along with some ad di tional ma te rial in a small stockbook etc. Col lec tion is scat tered prior to 1980 and well filled from there to 1998 in clud ing better like Scott 1613-16, 1617, 1618-25, 1696-1702, 1761, 1810, 1820, 1844, 1862a, 1863, 1863a,1904 and good runs from there. Fresh, ex am - ine, Very Fine (photo on web site). Estimate HK$ 3,000-4,000 2665 N Se ries Is sues Se lec tion, 1971-73, com prised of N5, N6, N8, N9, N10, N11, N13, N16, N18 and N19, all no gum as is sued or never hinged ex cept N19 part o.g., Fine to Very Fine (photo on web site). Estimate HK$ 2,500-3,000 2666 ( ) Re print Is sues for Use in North east Se lec tion, 1949-50. Use ful se lec tion of re print sets com prised of Y and C5r-8r in matched up per right cor ner sheet num bered blocks of 4, C27r-30r (6 sets), C42r-46r (7 sets) and C54r-56r (15 sets), all fresh, nice group, with out gum as is sued, Very Fine (photo on web site). Estimate HK$ 2,000-2,500 2667 T Se ries Is sues, Strong Mint Col lec tion, 1974-91. All in com plete sets and short just a few sets. Some perf tip ton ing, all never hinged ex cept T4, T13, T35, T37, T39, T41, T42, T43, and T44 hinged, oth er wise Fine to Very Fine (photo on web site). Estimate HK$ 1,500-2,000 2668 J Se ries Is sues, Col lec tion. In com plete mint sets, ex am ine, mostly o.g., never hinged with just a few hinged sets; some ton ing and gen er ally light and con fined to perfs, Fine to Very Fine (photo on web site). Estimate HK$ 1,500-2,000 Year Sets 2669 1973, Year Sets com plete (Scott 1108-1142), o.g., never hinged, Fine to Very Fine (photo on web site). Estimate HK$ 2,200-2,400 2670 1975, Year Is sues (Scott 1215-27,1232-54), in clud ing eight com plete sets, o.g., never hinged, Fine to Very Fine (photo on web site). Estimate HK$ 1,400-1,500 2671 1976, Year Sets com plete (Scott 1255-1302), o.g., never hinged, Fine to Very Fine (photo on web site). Estimate HK$ 1,800-2,000 2672 1977, Years Sets com plete (Scott 1303-1364), o.g., never hinged, Fine to Very Fine (photo on web site). Estimate HK$ 1,000-1,200 2673 1977, Years Is sues (Scott 1303-1314,1329-64), in clud ing four teen sets, o.g., never hinged, Fine to Very Fine (photo on web site). Estimate HK$ 800-1,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 93

PEOPLE S REPUBLIC: Postal History Postal History 2674 2675 2674 1951, Na tional Em blem (S1) com plete (Scott 117-121), tied by three 1951-10-1 pic to rial datestamps, Very Fine. Estimate HK$ 800-1,000 2675 1961, Tang Dy nasty Pot tery (S46) com plete FDC s (Scott 592-599), set com plete on 2 pris tine, cacheted un ad dressed FDCs, Very Fine. Estimate HK$ 1,500-2,000 2676 1962, Mei Lan-fang im per fo rate set com plete on 2 pris tine, cacheted and un ad dressed FDC s (Scott 620-27 imp), lovely qual ity, Very Fine, Rare. Estimate HK$ 50,000-60,000 94 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: Postal History 2677 1962, Mei Lan-fang, per fo rated (C94) com plete (Scott 620-627), on two pris tine cacheted, unaddressed FDC's, Very Fine, scarce. Estimate HK$ 8,000-10,000 2678 2679 2678 1963, But ter flies (S56) com plete on First Day Cov ers (Scott 661-680), the set com plete on 4 lovely, cacheted, un ad dressed FDCs, fresh and Very Fine. Estimate HK$ 4,000-5,000 2679 1963, Gi ant Pan das, per fo rated (S59) com plete perf and imperf on First Day Cov ers (Scott 708-710), each set on a clean cacheted, un ad dressed FDC, fresh and Very Fine. Estimate HK$ 3,000-4,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 95

PEOPLE S REPUBLIC: Postal History Ex 2680 Ex 2681 2680 1963, Golden-haired Mon keys, per fo rated (S60) com plete perf and imperf on First Day Cov ers (Scott 713-715), each set on pris tine cacheted, un ad dressed FDC, Very Fine. Estimate HK$ 2,500-3,000 2681 1965, Peo ple s Lib er a tion Army (S74) com plete on First Day Cov ers (Scott 842-849), set com plete on 2 cacheted, un ad dressed FDCs, pris tine, Very Fine. Estimate HK$ 1,500-2,000 2682 2683 2682 1978 (Mar 18), Na tional Sci ence Con fer ence sou ve nir sheet (J25M) (Scott 1383a), used on un ad - dressed first day cover, clean and Very Fine. Estimate HK$ 2,000-3,000 2683 1950 (Mar 24), air mail cover, Shang hai to Chi cago, franked by com plete set of Po lit i cal Con fer ence is sue (Scott 8-11, Yang C2), along with strip of 3 of $3,000 north China Lib er ated Area is sue, Scott 3L98, lovely and scarce cover, Very Fine. Estimate HK$ 1,500-2,000 2684 1950 (May 20), air mail cover, Shang hai to Chi cago, franked by com plete set of East China Lib er ated is sue, Scott 5L77-81, along with ad di tional post age re quire ment met by 1.41y Shang hai me ter can cel. Splen did com bi na tion, a lovely cover, Very Fine. Estimate HK$ 1,500-2,000 96 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014

PEOPLE S REPUBLIC: Postal History 2685 2686 2685 1950 (Aug 12), air mail cover, Shang hai to Chi cago, franked by the com plete set of Mao and Flag is - sue Scott 31-34, Yang C4 along with ad di tional post age, all tied by Shang hai c.d.s. s, lovely, at trac tive cover, Very Fine. Estimate HK$ 2,000-3,000 2686 1950 (Sept 19), air mail cover, Shang hai to Chi cago, franked by the com plete set of the Dove of Peace is sue (Scott 57-59, Yang C5), along with $10,000 Gate is sue. Fresh, a scarce set on cover, Very Fine. Estimate HK$ 1,000-1,500 2687 2688 2687 1950 (Oct 14), first day air mail cover, $800 1st An ni ver sary of the PRC, franked by $800 Chi nese Flag (Scott 62,Yang C39), the only value of the set is sued on this date, along with 3 other is sues all tied by Shang hai first day cdss. Front also shows vi o let Com mem o ra tive can cel, etc, lovely and very scarce cover, Very Fine. Estimate HK$ 1,500-2,000 2688 1950 (Dec 9), air mail cover, Shang hai to Chi cago, franked by 4 val ues of the Chi nese flag is sue, the only val ues avail able on the date used, along with $10,000 Gate is sue. Can ton 12/12/50 tran sit on back, Very Fine. Estimate HK$ 1,000-1,500 2689 1951, se lec tion of 3 better early air mail cov ers to Chi cago, in clud ing a nice 1951 us age with Scott C1-3 and ad di tional post age, Scott 62 and ad di tional post age plus Scott 76, Sino-So viet Treaty is sue strip of 5 with ad di tional frank ing etc. Ex cel lent group, ex am ine, generally Very Fine (photo on web site). Estimate HK$ 2,000-3,000 www.kelleherasia.com Sale 13 - Sep. 28, 2014 97

PEOPLE S REPUBLIC: Postal History 2690 Ex 2691 2690 1951 (Dec 12), air mail cover, Shang hai to Chi cago, franked by com plete set of Lu Hsun is sue (Scott 122-23, Yang C11), along with C1 and C4 air mails and $800 Gate is sue. Re verse shows Can ton 12/15 tran sit. At - trac tive cover, Fine to Very Fine. Estimate HK$ 1,500-2,000 2691 Five Single Franked Cultural Revolution Domestic Covers. Com prised of W7, W13, W33, W36 and W64. Some faults, oth er wise Fine. Estimate HK$ 3,000-4,000 2692 Use ful Group of 10 Slo gan Cov ers. Do mes tic us ages (one reg is tered), 2 stampless, as well as an ad - di tional 6 early cov ers, 1 reg is tered and an other in ter na tional. Nor mal us age faults, gen er ally Fine (photo on web site). Estimate HK$ 3,000-4,000 2693 Col lec tion of Be tween 50-60 Cov ers Nearly All With Lo cal Is sued Value Added La bels, 1988-89. In clud ing a few ear lier post age due cov ers. Many orig i nated from Shandong. Very few du pli ca tion. No tice many are reg is tered item with reg is tra tion la bels. Ex cel lent for the spe cial ist or those start ing to col lect these lo cal value added la bels. They were around for a very short du ra tion be fore this prac tice were banned. Col lec tor has sorted and la belled these in pen cil with the num ber of types ac cord ing to re search ar ti cle. Also 1968, Rev o lu tion ary Lit er a ture and Art (W5), sin gle val ues on 4 com mer cial bank covers to Hong Kong (photo on web site). Estimate HK$ 3,000-4,000 2694 Clean Se lec tion of 4 Dif fer ent FDC s, 1962. All cacheted and un ad dressed, com prised of Yang C93 Tu Fu, C95 Oc to ber Rev o lu tion, S49 Folk Dances on 2 cov ers and S60 Golden Mon keys. Each fresh, nice group, Very Fine (photo on web site). Estimate HK$ 2,000-3,000 2695 Nice First Day and Event Cover Hold ing. Com prised of over 60 cov ers, in clud ing use ful New Years, stamps like S309-312 and sou ve nir sheets like T82M, T88M(2), all un ad dressed, Fine to Very Fine (photo on web site). Estimate HK$ 1,000-1,500 2696 Pair of Better First Day Cov ers, 1962 & 1964, each cacheted and un ad dressed, com prised of Scott 612-14 and 806-09, Yang S48 and S68, Very Fine (photo on web site). Estimate HK$ 1,000-1,500 End of Sale - Thank You 98 stamps@kelleherasia.com Sale 13 - Sep. 28, 2014