Watch List notes:

The Mercantile Bank of India, $5, 1.3.1912, serial number 06752, handsigned at lower left,(Pick 235a), PMG 15NET Choice Fine (Restoration (Previously Raised)). A very scarce first year of issue which had its denomination raised previously and reverted back to the original $5 denomination..

Estimate: $20,000.00 - $30,000.00