Watch List notes:

MALAY ARCHIPELAGO, Colonial. Netherlands East Indies. AV Merchant's Token (14.9mm, 0.50 g, 12h). Dated AD 1874 (but struck later). NOORDEEN / SOERBAIA / PERHIASAN / MAS 8KT within wreath / Date with three-line Malay legend above, all within wreath. UNC.

The design on this unusual piece appears to have been derived from small Ottoman gold types circulating in the region.