Watch List notes:

SHAN STATE: AV ¼ tical (3.61g), ND (ca. 1981), KM-X2, crude outline map of rebel held territory, EF to About Unc. Produced privately, likely in Shan held rebel territory in Myanmar. Little is known about these issues except that they are scarce as they rarely appear on the market.

Estimate: 200- 300 USD