Watch List notes:

PENANG: AE cent, 1810, KM-28, East India Company issue, EF. 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