Watch List notes:

Republica dos Estados Unidos do Brasil, 10 mil reis, L.1923, Estampa 1A, serial number 019323, Estampa 2A, serial numbers 04039 and 09457, black on multicolour, portrait at centre, 20 mil reis, L.1923, serial numbers 006836, 052150, black on multicolour, portrait at right. (Pick 114, 115, 116), fine to very fine (5)

($350-450)