Watch List notes:

TIBET: AR 3 srang, Trabshi mint, year 16-11 (1937), Y-26, L&M-658, Autonomous Tibetan issue, snow lion facing left in center with Himalayan range behind with two suns above and ornament below, with legend dga' ldan pho brang phyogs las rnam rgyal in eight syllables between inner circle and an outer circle of pearls arranged in groups of two syllables, separated by Buddhist emblems: pair of fish, conch, endless knot and parasol // rab byung bcu drug lo bcuig srang gsum ("cycle sixteen, year eleven, three srang") between inner and outer circle of beads arranged in three groups of two syllables separated by Buddhist endless knots, PCGS graded MS63.

Estimate: 100-150 USD