Watch List notes:

Republik Indonesia, 1948 Essay Banknote Specimen. 5 Rupiah, P-Unlisted5a, Essay specimen banknote of a Security BNC proposed and never issued 1948 Indonesia banknote Series. Note is dated September 1, 1948; Block 1-A. Red specimen overprints, POC's and ì00000î serial numbers. Small red printing on upper right margin of face reads ì 11-9-48 FHî and back ì11-9-48 BK. Front is black, back is olive green. Back of note has farmer plowing with oxen. Choice Uncirculated, Rare essay note. SBNC.

Estimate: 500 - 1000