Watch List notes:

(x) Banque de l'Indochine, Djibouti, 5 francs, ND (1943), serial number A.70 134, blue and red on light gold underprint, helmeted female head at low left, value above, overstamped with cross of Lorraine and antelope head(Pick 11, TBB B1C B17), staple hole at left which has caused rusting and the paper to corrode, otherwise completely original paper, excellent paper quality, extremely fine and rare.

Estimate: £450 - £550