Watch List notes:

Paraguay: Very nice set with 7 banknotes of the "Tesoro Nacional" and "Banco de la Republica" issues with 1 Peso ND(1860) P.11 in VG, 5 Pesos ND(1862) P.17 in G, 1 Peso ND(1865) P.21 in VF+, 2 x 4 Pesos ND(1865) with red stamp 1868 P.32 in XF and 5 and 100 Pesos L.1907 P.156, 159 in VF/XF condition. (7 pcs.)
[taxed under margin system]