Watch List notes:

Bhutan: Royal Monetary Authority of Bhutan, nice lot with 7 REPLACEMENT banknotes, all with prefix "Z", including 5 Ngultrum ND(1985) (P.14r, UNC), 50 Ngultrum ND(2000) (P.24r, UNC), 500 Ngultrum ND(2000) (P.26r, UNC), 5 Ngultrum 2006 (P.28ar, aUNC/UNC), 10 Ngultrum 2006 (P.29ar, UNC), 100 Ngultrum 2006 (P.32ar, UNC) and 500 Ngultrum 2006 (P.33ar, UNC). Great lot! (7 pcs.)
[taxed under margin system]