Watch List notes:

Philippines 1920 P-49 PMG Choice Very Fine 35 50 PesosThis is a curious and short lived issue. 400,000 notes were printed yet they were not immediately issued. Unused stock was taken by the Japanese during World War II, and other groups of notes were stolen in Mindanao and traded for 5 Pesos. This high grade example is a good example of this bizarre type.