Watch List notes:

GERMANY, Necessity coinage (Notgeld), encased postage (Briefmarken kapselgeld) 10 Pfennig (3), EL. KEMPE & Co, H. KÜCHLER, MERZ, in cardboard (16), 10 Pfennig (10), including Petto, ESCHMI, DAB, Rubinstein, 5 Pfennig (6) including J.P.W. EIGEN, Leo Kropp, W. GIEBEL, etc, very fine to extremely fine. (19)
(100-150)