Watch List notes:

(g) Brazil, Republic, 20,000-Reis, 1896, edge milled, 19.85g, 7h (LDMB 0716; Fb. 124; KM 497), on an abnormally heavy flan with test cuts to milling and surfaces marks across lightly cleaned but residually lustrous surfaces, a bold very fine, rare, with only 7,043 pieces struck.

Estimate: £600 - £800