British North Borneo
Sandakan Tobacco Company Limited copper Proof 20 Cents ND (ca. 1924) PR61 Brown NGC, SS-54, P-66. Pleasing yellow tone mixes with original coppery-pink color and the fields retain noticeable reflectivity. Overall much nicer than the grade suggests with spot over the PA in COMPANY being the only grade-limiting factor of note.
Estimate: 150-250 USD