Watch List notes:

Russia NORTH CAUCASUS - VLADIKAVKAZ RAILROAD COMPANY 50 Rubles Pick S593 dated 1st September 1918 serial number A 13353 black on light blue, buff and light green underprint featuring winged gear at lower left and steam locomotive below a partly robed woman at lower right on obverse and Network of the East Caucasian Railroad Company on reverse. Exceptionally Scarce issue about UNC - UNC

Estimate: 75-150 GBP