Watch List notes:

Kingdom of Siam / Thailand, 1925. Kingdom of Siam / Thailand, 1925.Kingdom of Siam / Thailand, May 1, 1925. 100 Baht, P-20a TB31. Type 1 text, Issued banknote, Blue on green, winged Garuda on top left, tricephalic elephant symbol lower right, ceremonial procession, back. Signature 10. S/N S/2 36925, PMG graded Very Fine 20 NET, Repaired. TDLR. Rare early first year issue.

Estimate: 1200-2300 HKD