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Auction: 343 - World Banknotes, The Ibrahim Salem Collection of South America and Other Properties at Grand Hyatt, NY INC
Lot: 176

Philippine National Bank, 5 Pesos, 50 Pesos, 1920, serial number A1928805A, A301718A, 5 Pesos, black on pink underprint, William McKinley at left, reverse, orange, 50 Pesos, black on green underprint, Henry Lawson at left, reverse, red,
(Pick 46b, 49), 5 Pesos in PMG holder 63 EPQ Choice Uncirculated, 50 Pesos in PCGS holder 35 Very Fine, this note was never officially issued due to being looted by the Moro people in Mindanao, who sold them on for 1/10 of face value!

Estimate
$500 to $600