Watch List notes:

German Empire. Hessen. Ernst Ludwig (1892-1918) AV 20 Marks. 1905. ERNST LUDWIG GROSHERZOG VON HESSEN, bare head left; A below / DEUTSCHES REICH 1905 * 20 MARKS *, eagle. Friedberg 3795. 7.95g, 22mm, 12h.

Very Fine.