Watch List notes:

Republica dos Estados Unidos do Brazil, black and white archival photographs for unissued designs, all c.1914, consisting of obverse and reverse 50 mil reis, and obverse and reverse 500 mil reis, both with allegorical figures and monuments, and reverses for 1, 2 and 100 mil reis, with steam train, farmers in fields, and city scene respectively. (Pick unlisted), Bradbury printed barely any of the state notes for Brazil, and none around this date, so these designs likely represent a failed attempt to win a contract, attractive and unique (7)

($300-400)