Watch List notes:

Royal Siamese Government, 1924, £500 6% Sterling Loan. Royal Siamese Government, 1924, £500 6% Sterling Loan.London, England. Issued and Cancelled bond, Black on purple and light yellow, coupons attached, locomotive and man in boat flank Siamese Arms, Red Strips and Cancelled overprints with POC's on the bottom. Red English imprinted revenue on top left, VF condition. Extremely rare and attractive bond. Waterlow & Sons, Ltd.

Estimate: 3900-7800 HKD