Watch List notes:

TIBET: AR 5 sho, BE15-48 (1914), Y-18, Autonomous Tibetan issue, snow lion looking upwards with sun and three ornaments within circle to which eight lotus petals are attached, each contains one syllable of the legend dga ' ldan pho brang phyo(gs) las rnam rgyal ("The Ganden Palace, victorious in all directions") // triratna (triple gem) at center, surrounded by circle with legend around: rab byung 15 lo 48 zho lnga ("cycle 15, year 48, five sho"), this surrounded by a circle to which eight lotus petals are attached, each containing one of the eight Buddhist auspicious emblems, very rare in mint state quality! PCGS graded MS61, RR, ex Don Erickson Collection.

Estimate: 500-700 USD