Watch List notes:

Republik Indonesia Serikat, 1949 Essay Specimen BanknoteIndonesia, ND, (ca.1949). Series 1-A. P-Unlisted, 25 Rupiah. Red specimen overprints, POC's and "00000" serial numbers. Front is brown, back is brown. Back of note has farmer plowing with oxen. Evidently Indonesia did not accept this issue. The face is PMG graded Superb Gem Uncirculated 67 EPQ and the back Gem Unc. 66 EPQ. Rare essay note and possibly the finest known. SBNC.

Estimate: 7000 - 14000 HKD