Watch List notes:

Brazil. Republica dos Estados Unidos do Brazil. 20 Mil Reis. No date (1931). P-48s. Blue on multicolor. Portrait of Manuel Deodoro do Fonseca. Estampa 16A. Series 24A. 00000 twice in red. SPECIMEN twice in red. Orange back. ABNC. Choice Uncirculated.

($100-150)