Watch List notes:

Banque de L'Indo-Chine, Vladivostok, Russia, a specimen set of the 1919 issue comprising 5, 25, 100, 500 Rubles, 12th February 1919, serial number 000000, blue, green, brown, dark brown on multicolour underprint, female head with Liberty cap at centre, text in Russian and French, 'SPECIMEN' written twice over underprint and at reverse centre, perforated,(Pick S1256-S1259), 25 rubles has a corner fold, otherwise an uncirculated, a rare and attractive set (4).

Estimate: £2,000 - £3,000