Watch List notes:

TIBET: AR 5 sho, BE15-48 (1914), Y-18, Autonomous Tibetan issue, snow lion looking upwards with sun and three ornaments within circle to which eight lotus petals are attached, each containing one syllable of the legend dga ' ldan pho brang phyo(gs) las rnam rgyal ("The Ganden Palace, victorious in all directions") // triratna (triple gem) at center, surrounded by circle with legend around: rab byung 15 lo 48 zho lnga ("cycle 15, year 48, five sho"), this surrounded by a circle to which eight lotus petals are attached, each containing one of the eight Buddhist auspicious emblems, PCGS graded VF35.

Estimate: 300-400 USD