Watch List notes:

(x) Banco Internacional, Ecuador, an obverse and reverse proof on card for a 100 sucres, 18- (1886-1894), black and white, Abdon Calderon at centre, arms at left, reverse brown and white, text at centre, value at left and right, (Pick S178 for type), a Waterlow engraving, some foxing, good very fine and very rare.

Estimate: £400 - £500