Watch List notes:

Ecuador (struck in Philadelphia), copper-nickel 5 centavos, 1917, encapsulated PCGS MS65, ex-Gilman. Finest specimen known to us of this scarce post-WWI issue, with choice strike and very light rainbow toning, no wear at all, very rare in anything close to this quality (especially this first date) as usually affected by humidity in Ecuador. Pedigreed to the Glenn Gilman collection.

Estimate: $300 - 450