Watch List notes:

San Juan, Puerto Rico, Banco de Puerto Rico, 5 pesos / 5 dollars specimen, ND (ca. 1901-04), series E, PMG Gem UNC 66 EPQ. SCWPM-41s. Up until 1898, the main currency in Puerto Rico was the silver peso. Upon the arrival of American troops in 1898, the US dollar was introduced to the money supply. With the subsequent development of the American administration, a dual peso-dollar system began. This is most evident in the series E notes created by the Banco de Puerto Rico (formerly the Bank Espanol de Puerto Rico) between 1901 and 1904. This dual denominated 5 pesos = 5 dollars note printed by the American Bank Note Company is also bilingual with legends in both Spanish and English. The note itself is well centered with choice margins and paper quality (noted by PMG), vibrant orange and yellow undertint on the obverse, red reverse featuring the Paschal Lamb on the reverse. Very rare in both availability and quality, tied with one other for finest known in the PMG census and one of only four graded by PMG. PMG #8049730-002.

Estimate: $1500-3000