Watch List notes:

Germany, Bavaria, Ludwig II (1864-86), 5-Marks, 1875-D, Munich (KM 896); also, Saxony-Albertine, Albert (1873–1902), 5-Marks, 1876-E, Dresden (KM 1237); Württemberg, Wilhelm II (1891-1918), 5-Marks, 1900-F, Stuttgart (KM 632); lastly, Hamburg, Hanseat, 5-Marks, 1904-J, Hamburg (KM 293), some lightly cleaned, nevertheless all very fine, the last almost extremely fine (4).