Watch List notes:

Republica dos Estados Unidos do Brasil, colour trial 200 Mil Reis, ND (1936), no serial numbers, pink-brown and multicoloured, Saldanha Marinho at right, reverse brown, a view of a coastline and city at centre, (Pick 82ct), perforated, red 'SPECIMEN WATERLOW & SONS LIMITED'' in field, in PMG holder choice uncirculated.

Estimate: £400 - £500