Watch List notes:

MADAGASCAR: LOT of 4 cardboard necessity tokens: Cercle Français de Vatomandry, 10c (orange color) and 50c (yellow); and 4-cities issue for Vatomandry, Diego Suarez, Nofibé and Mayotte, Projet TM, no denomination (light blue, 2 pcs); all in UNC condition and very rare, lot of 4 pieces.

Estimate: 150-200 USD