Watch List notes:

ITALIAN STATES / PRIMA REPUBBLICA ROMANA: 25 Bajocchi (2.8.1798) of Banco di S Spirito in black with republican seal at top left and top right. S/N: "104 1101". WMK: Value in words. Inside holder by PMG "Very Fine 30 - Small Tears". Unique graded in PMG. (Pick S521a).