A rare set of unused First Estonian Republic banknotes, including a 20 Krooni note, constructed of raw cotton, the obverse bearing an illustration of an Estonian shepherd in traditional dress, above an inscription indicating that this style of note was introduced on 3 May 1927 under the Estonian Money Act, flanked on the right by finely-detailed denomination information and a serial number of “1098560”, the reverse bearing additional stylized denomination marks, with an Estonian national coat of arms at the upper left corner, with a double-sided watermark consisting of a number “20” repeated in zig-zag formation, measuring 140 mm (w) x 85 mm (h), in mint condition, and; a 50 Krooni note, constructed of raw cotton, the obverse bearing an illustration of the coastline near the village of Rannamõisa with the skyline of Tallinn visible on the horizon, above an inscription indicating that this style of note was introduced on 3 May 1927 under the Estonian Money Act, flanked on the right by finely-detailed denomination information and a serial number of “0569683”, the reverse bearing additional stylized denomination marks, with an Estonian national coat of arms at the upper left corner, measuring 158 mm (w) x 100 mm (h), in mint condition.