Watch List notes:

ROMANIA: Mihai I, 1940-1947, AV 20 lei, 1944, KM-X13, Liberation Day of Northern Ardeal medallic issue, crowned eagle head and coats of arms of Transylvanian counties abducted in 1940 by Hungary with the support of Germany and Italy, PCGS graded MS63. Northern Transylvania (Ardeal) was the region of the Kingdom of Romania that during World War II, as a consequence of the August 1940 territorial agreement known as the Second Vienna Award, became part of the Kingdom of Hungary. The population was largely composed of both ethnic Romanians and Hungarians. In October 1944, Soviet and Romanian forces gained control of the territory, and by March 1945 Northern Transylvania returned to Romanian administration. After the war, this was confirmed by the Paris Peace Treaties of 1947.

Estimate: 350-450 USD