Watch List notes:

Brazil. Republica dos Estados Unidos do Brazil. 5 Mil Reis. No date (1909). P-22s. Black on multicolor. Woman seated with laurel wreath and statuette. Estampa 13A. 00000 twice. SPECIMEN at the bottom, right. Red orange back. Choice Uncirculated. Jumbo top margin with F3279 in red.

($500-750)