Watch List notes:

Mongolia: Commercial and Industrial Bank, very nice lot with 4 banknotes of the 1925 issue with 1, 2, 5 and 25 Tugrik, P.7, 8, 9, 11, all in almost well worn condition with repaired tears, small missing parts and larger border tears, Condition: VG. (4 pcs.)
[taxed under margin system]