British North Borneo Company, specimen $25, 19- (1905-29), no serial number, black with value in green protector at centre, Mount Kinabalu top centre, Smelt signature, perforated CANCELLED, in PMG holder 50, about uncirculated, very rare in this superb grade, the only example graded by PMG
BNB B109s, Pick 17s, KNB 10 S$20,000-S$26,000

This lot was sold as part of a special collection, The Frank Goon Reference Collection of British Malayan Banknotes.

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