Watch List notes:

PENANG: AE cent, 1810, KM-138.2, East India Company issue, environmental damage, much red original luster, PCGS graded UNC Details, Dr. Axel Wahlstedt Collection. Issued under the authority of the Prince of Wales Island Presidency (1805-30), the fourth presidency, which was headed by a governor, and assisted by a council of two or three officials. During the Presidency period Penang became a major trading center, having quickly overtaken the Dutch facilities in Malacca.

Estimate: 100-150 USD