Watch List notes:

Armenia, Republic, 1919 First Issue, 10 roubles (Pick 2a); 1919 Second Issue, 100 roubles (2- Pick 10), these both poor; 1920 First Issue, 25 roubles, uniface, with misprint (cf. Pick 16x), and 50 roubles (Pick 17a); 1920 Second Issue, 50, 500, 1,000 (28), and 5,000 (2) roubles (Pick 21, 26a, 27 (28), 28b, 28c), several with light traces of mounting on reverses, mixed grades very good to good very fine (37)

Estimate: £200 - 300