Watch List notes:

MALAY STATES: MALACCA: AE keping, AH1247, KM-8.1, Singapore Merchants token, rooster with Jawi legend, tanah melayu (Land of the Malays) // sedi keping (one keping), a lovely mint state example! PCGS graded MS63 BN. Singapore merchant tokens circulated in the Netherlands East Indies, as that was the intention of the issuers. These were forbidden to circulate by the Dutch authorities although they didn't offer an alternative, so the ban had little effect. Most have evasive inscriptions, notably dates and region names. All circulated indiscriminately among the islands as well as in Singapore, regardless of the area name on them and regardless of whether the area is today in Indonesia or Malaysia. Many of these types were struck at the Birmingham mint circa 1829-1853.

Estimate: 75-100 USD