Watch List notes:

Brazil, 20000 reis, 1900, encapsulated NGC MS 63, finest known in NGC census. Russo-720; KM-497. Lustrous and lightly toned, with minor bagmarks all over, from a series that began in 1889 in celebration of the four-hundredth anniversary of the discovery of Brazil. Pedigreed to the New England Collection.

Estimate: $2000 - 3000