Watch List notes:

(x) Keeling Cocos Islands, 5 rupees, 1897, manuscript serial number 62, black text on card like paper, value in red circular frame top left, arms top centre, manuscript signature of George Clunies Ross low right, (Pick S122,), in PMG holder 45 Choice Extremely Fine. A low serial number and in exceptional grade for type. At time of cataloguing no other examples of the 5 rupee recorded on Track and Price. This example possibly the only example extant on the market and a remarkable discovery note from this iconic issue.

Estimate: $3000 - $4500