Watch List notes:

(x) Philippine National Bank, 50 Pesos (2), 2 May 1916, serial number A307159A, A98715A, black, Henry Lawson at left, reverse, red,(Pick 49), first note in PMG holder 40 Extremely Fine, second note in PCGS holder 50 About New (2), these notes were never officially issued: the first series were looted by the Moro people in Mindanao and sold on at 1/10 of face value (!) and the shipments containing the second series were captured by the Japanese during WWII. Subject to 5% tax on Hammer Price in addition to 20% VAT on Buyerís Premium. For more information please view Terms and Conditions for Buyers.
(Estimate: $400-500)