10
        
        
          4051
        
        
          1943 Ching Ho Area, hand surcharged with char. (
        
        
          膠東
        
        
          ) on Shantung 2nd War Time Posts and new values, char. reading from right
        
        
          to left, 5c on 1c vermilion, surcharged in blue variety, unused and no gum as issued. Yang EC162a. Photo
        
        
          HK$ 1,500 - 2,000
        
        
          4052
        
        
          1943 Ching Ho Area, hand surcharged with char. (
        
        
          膠東
        
        
          ) on Shantung 2nd War Time Posts and new values, char. reading from left
        
        
          from right, 10c on 1c vermilion, surcharged in blue variety, unused and no gum as issued. Yang EC163a. Photo
        
        
          HK$ 2,000 - 2,500
        
        
          4053
        
        
          1943 Ching Ho Area, hand surcharged with char. (
        
        
          膠東
        
        
          ) on Shantung 2nd War Time Posts and new values, char. reading from left
        
        
          from right, 50c on 2c green, unused and no gum as issued. Yang EC165. Photo
        
        
          HK$ 4,000 - 5,000
        
        
          4054
        
        
          1943 Ching Ho Area, hand surcharged with char. (
        
        
          膠東
        
        
          ) on Shantung 2nd War Time Posts and new values, char. reading from left
        
        
          from right, black surcharged 10c on 2c green, unused and no gum as issued. Yang EC169. Photo
        
        
          HK$ 4,000 - 5,000
        
        
          4049
        
        
          1942 Hwai Nan Area, 1st Unit issue with no value indicated, large red char. in center, '
        
        
          平
        
        
          ' on Green Junk, full margins, unused and
        
        
          no gum as issued, very rare. Yang EC201. Photo
        
        
          HK$ 160,000 - 180,000
        
        
          4049
        
        
          4050
        
        
          1942 Central Kiangsu Area, Su Chung 1st Unit issue with no value indicated, red char. on Deep Green Torch horizontal pair, a few
        
        
          tone marks on reverse, scarce multiple, unused and no gum as issued. Yang EC253. Photo
        
        
          HK$ 40,000 - 50,000
        
        
          4050
        
        
          4051
        
        
          4052
        
        
          4053
        
        
          4054