Watch List notes:

PENANG: AE ½ cent, 1810, KM-12, Prid-19, East India Company issue, graffiti, PCGS graded About Unc details, ex Joe Sedillot Collection. Issued under the authority of the Prince of Wales Island Presidency (1805-30), the fourth presidency, which was headed by a governor, and assisted by a council of two or three officials. During the Presidency period Penang became a major trading center, having quickly overtaken the Dutch facilities in Malacca.

Estimate: 100-150 USD