Watch List notes:

Bangko Sentral NG Pilipinas, 1944 Issue Specimen. Philippines, 100 Piso, P-116 Unlisted type, but Unlisted Specimen banknote, (Similar to P-116s4), black on light tan paper-underprint (listed as pink in the SCWPM), Portrait of J. Rizal at left, back red (Listed red and orange in SCWPM), Red Mi-Hon overprint at left and right, No block or serial number printed (listed as specimen with Block and serial numbers only). Watermarked paper, This note was never released, Uncirculated to CU with large margins, sharp corners, rare specimen variety.

Estimate: 800 - 1600