Watch List notes:

Banco Central del Ecuador Face Proofs. 1939. Quito, Ecuador. 1-2) $20 P-93 Face & Back Proof. Semi-nude woman with symbols of commerce and industry, multicolor underprint. Brown back. 3) $50 P-94 face Proof, woman with globe. All India paper on card. Unc. [4]

Estimate: 600 - 1200