Watch List notes:

Republic India, 1987, 500 Rupees, Signed by R. N. Malhotra, AA Prefix, S. No. 0AA 467838, (KJ & RR # 6.8.1.1), exceptional paper quality, staple holes at issue, Top-pop and highest graded, graded by PMG as 67 Superb Gem Unc EPQ, Rare in this grade.