Watch List notes:

Banco Nacional Del Paraguay, 1886 Issue Proof. Asuncion, Paraguay, January 1, 1886, 20 Pesos Fuertes, P-S149, Unlisted Face proof, no back, printed in black on lilac underprint on india on thin card cut down to banknote size, woman on right with harbor scene at middle and left, CU condition with a few light toning spots that keeps this lovely note from Gem, extremely rare note in any form and unpriced in SCWPM. Rarely seen at auction. ABNC.

Estimate: 800 - 1600