Watch List notes:

The Aguan Navigation and Improvement Company, 50 pesos, 25 June 1886, blue serial number C309, black and pink-green, Bogran at low left, value at top left, Justice seated between two children at centre, steamship low right, reverse green. (Pick S107a), in PMG holder number 20 NET, ink annotation low right and minor split repair, and very fine and very rare, the first time Spink have seen this in auction anywhere

($2000-2500)