Watch List notes:

Shilling 1909 ESC 1418, CGS type SH.E7.1909.01, About UNC and attractively toned, slabbed and graded CGS 78, Ex-PCGS MS64, the second finest of 12 examples thus far recorded by the CGS Population Report, thus showing it to be very scarce in higher grades

Estimate: 325-450 GBP