Watch List notes:

Biglietto Di Stato, 10 lire, 22 January 1911, serial number 1528 074209, Dell'Ara and Altmura signature variety, 5 lire, 1911, Dell'Ara and Altmura signature, 1914, Dell'Ara, Porena,
(Pick 20d, 23, Gavello 31, 32, 37), 10 lire scarce signature variety, one 5 lire uncirculated, the remainder fine to very fine (3).

Estimate: £120 - £180