Watch List notes:

PHILIPPINES. 25 Heavy Weights. April 26, 1877. Series D. (Edifil 2017: 7, Pick: A15, Filabo: 7FL). Extraordinarily rare banknote from the period of Spanish rule in the Philippine archipelago, no more than 3 or 4 known copies, this copy has remained intact and without repairs, it comes from a collection closed in the eighties, a piece of enormous importance and interest. VF.