Watch List notes:

(x) Banque de France, an essay for an unadopted 500 francs on large format paper, type of 1982, no serial numbers, red and multicoloured, Georges Clémenceau at right, in background his famous U-shaped desk, value at left and right, reverse red and multicoloured, Georges Clémenceau at left with a statue of Athena and detail from the 'Assemblee Nationale'(Pick unlisted, Fayette Type 1982 'Non Emis'), there are a few varieties of this stiking essay. Printers numerical annotations on reverse, in PMG holder 66 Gem Uncirculated EPQ. Extremely rare and attractive, one of the few known tests of the Clémencaeu 500 francs..

Estimate: £6000 - £8000