Watch List notes:

Central Bank of the Philippines, 1953 Essay Banknote. Philippines, 1949, 50 Centavos. P- UNL50pe, Essay Banknotes, Uniface front essay proof. Large upper margin with tint blocks of border and undertints. Unreleased and unissued 50 Centavos essay color trial. Dark green border with light green undertint on face. the seal on the right is untinted. Face has a green overprint on upper top margin with date 2-20-53 and "CERO-2637. Printed by SBNC. Rare Essay note. PMG graded Gem Uncirculated 66 EPQ. Rare note in any form or condition.

Estimate: 6000 - 12000