Watch List notes:

BRAZIL: Republic, 200 réis, ND (1940), KM-L2, Colonia Santa Teresa; Leprosarium Coinage, NGC graded MS61. On 29 July 1936, the foundation stone of the Colonia Santa Teresa Leprosarium was laid. It was located 24km from the state capital of Florianópolis. The initial capacity was to be 300 beds. The Colony was inaugurated in March 1940 in the presence of Getúlio Vargas, President of the Brazilian Republic.

Estimate: 150-250 USD