Watch List notes:

Armenia: Lot with 14 banknotes, 1918-2011, comprising 1000 Rubles 1918 State Bank Yerevan branch (P.8, VG, F-), 50 Rubles 1919 (P.30, VF), 10, 25, 50 and 200 Dram 1993 (P.33-35, 37, UNC), 50 and 100 Dram 1998, 500 Dram 1999, 5000 Dram 2003, 2x 10.000 Dram 2006, 2008, 20.000 Dram 2007 and 1000 Dram 2011 (P.41, 42, 44, 51, 52b,c, 53, 54, UNC). Nice set! (14 pcs.)
[taxed under margin system]