Watch List notes:

Republica dos Estado Unidos do Brazil, Caixa de Conversao, 10 mil reis (4), 1906, serial number A 0021770, Estampa 1, brown print, allegorical woman with shield at left, A Pena at centre, manuscript signature low centre, reverse maroon, bank building at centre, and three examples of lithographic counterfeits,. (Pick 94), the issued note very fine, the counterfeit example very fin to uncirculated (4)

($400-500)