Watch List notes:

GREECE: 5 Drachmas (8.1.1916) in black on brown and blue unpt with portrait of G Stavros at left and Arms of King George I at right. S/N: "ΖΦ1582 184675". Signature by Zaimis. Printed by ABNC. Inside holder by PCGS "Choice VF 35". (Hellas 52d) & (Pick 54a).