ESTONIA. Eesti Vabariigi. 500 Marka, ND (1921). P-57a. PMG About Uncirculated 55 EPQ.
A difficult type from Estonia, issued by the Bank of Estonia in its early days. Printed by F.F.C. Tilgmann in Helsinki, Finland and issued in 1921. This was the final iteration of this denomination issued before the country introduced the Estonian Kroon. This type is virtually always seen in heavily circulated condition, and even then infrequently at best, making this an important opportunity for Baltic specialists. It is one of just two notes graded by PMG at this grade level with a single example finer, although we must mention that the sole uncirculated example of this type was not awarded the "EPQ" designation from the grading service. With original notes continuously in more demand, we suspect more than a few collectors prefer the present piece over the sole uncirculated example. Luckily for the winning bidder today, this piece is fully original, with a single centerfold the sole grade limiting factor.
From the Al Kugel Collection.

Estimate: $3000.00 - $5000.00