Watch List notes:

Republik Indonesia Unlisted 1948 Issue Essay Specimen Banknote.Indonesia, P-Unlisted, 1948, 50 Rupiah. Essay specimen banknote of a Security BNC proposed and never issued 1948 Indonesia banknote Series. Note is dated September 1, 1948; Series 1-A. Front is purple, back is indigo. Back of note has farmer plowing with oxen. Evidently Indonesia did not accept this issue. PMG graded Superb Gem Uncirculated 67 EPQ. Tied for finest known with one other note out of 3 graded, Rare essay note. SBNC.

Estimate: 5500 - 1200 HKD