Watch List notes:

(x) Republica dos Estados Unidos do Brasil, 500 reis (2), violet / yellow, 2 mil reis, blue-green, 1 mil reis, ND (1917), pink-brown, cheub at right, 1 mil reis, ND (1923),, (Pick 1b, 2, 12, 5a, 9), generally fine to very fine.

Estimate: £140 - £180