Watch List notes:

(x) Bank of Latvia, colour trial 25 Latu, 1928, specimen number 516, green and orange, K. Valdemars at centre, clipper ship low left, steamship low right, reverse dark green, arms and value,, (Pick 18cts, TBB B206), perforated, red SPECIMEN WATERLOW & SONS LTD overprint, in PMG holder 64 Choice Uncirculated, scarce.

Estimate: £500 - £600