Watch List notes:

Brazil. Republica dos Estados Unidos do Brazil. 20 Mil Reis. No date (1909). P-44s. Black on multicolor. Seated woman holds branch. Estampa 12A Series 8A. Uncirculated. Some counting wrinkles in the jumbo top margin, along with a "DEC 19 1907" ABNC rubber stamp.

($300-500)