Lot# 5380

1949 (May 11) Swatow Sung Kou to Japan censored returned cover, f.w. SYS Golden Yuan Stamps x 4, total value $40,000 Golden Yuan, tied by Sung Kou cds. The exchange rate of Golden and Silver Yuan is around 1f: GY$4,000 then. $40,000 Golden Yuan equals to 10f Silver Yuan, matching the international ordinary rate. However, the postage was not acceptable in Japan and was marked as postage due. The recipient refused to pay the postage due, thus the cover was returned to the sender.