Watch List notes:

República del Paraguay, 5 Pesos, 26th December 1907, serial number 0021478, black on blue underprint, woman at centre,(Pick 127), 'PESOS ORO SELLADO' barred out, 'EMISION DEL ESTADO LEY 11 DE ENERO DE 1912' overprint, in PMG holder 65 EPQ gem uncirculated.

Estimate: £150 - £200