Watch List notes:

(x) Banco Central de Guatemala, colour trial specimen 5 Quetzales, ND (1934-45), specimen number 612, brown, pale green and orange-yellow, Quetzal bird on column at left and right, value at right centre and at each corner, ship at quayside at left, reverse brown, Quetzal bird on pedestal at centre,, (Pick 16cts, TBB BCG B11t) perforated, red SPECIMEN WATERLOW & SONS LIMITED overprint at low left and right, in PMG holder, previously mounted, 63 Choice Uncirculated, only 2 on PMG population report, scarce.

Estimate: £300 - £350