Watch List notes:

Brazil. Republica dos Estados Unidos do Brazil. 500 Mil Reis. No date (1925). P-91s. Blue on multicolor. Portrait of J. Bonafacio de Andrade e Silva. Estampa 14A. Series 11A. 00000 twice in red. SPECIMEN twice in red. Rose colored back. ABNC. Choice Uncirculated.

($600-900)