100Yuan

Wing Sang Bank was one of several small Macau-based private banks that issued notes during the Japanese occupation period, operating in a peculiar grey zone — Macau remained under nominal Portuguese administration throughout the war, making it one of the few places in the South China region where non-Japanese-controlled private bank currency could still be printed and circulated legally. The 1943 date places this squarely in the most economically volatile stretch of that occupation, when hyperinflationary pressure from Japanese military scrip was driving demand for any locally-backed alternative.

Pick 172 is among the rarer Wing Sang issues; the bank's survival through the war was precarious, and post-war currency reforms ended its note-issuing function abruptly.