Watch List notes:

Armenia, Azerbaijan and Kaukazus Issued Notes. 1) Armenia. 1000 Rubles, 1919, P-27, VF-EF, edge splits. 2-3) Azerbaijan. 500 Rubles, 1920, P-7, dark brown and dull gray green on multicolor, EF-AU with a little roughness in the upper left margin, AU with rounded corners and a few edge splits. 4) Georgia. P-11 Good. 5) Armenia Nagorno-Karabakh note, About Good. [5]

Estimate: 75 - 150