Watch List notes:

(x) Caisse Centrale de la France d'Outre-Mer, printer's archival specimen 5 Francs (Law of 1944), serial run AN500,001 to BN500,000, red; also printer's archival specimen 20 Francs (Law of 1944), serial run LC000,001 to LD500,000, deep green on lilac underprint, both portrait of Marianne in liberty cap at centre, reverse article 139 of the Penal Code in ornate oval pattern, value at left and right, perforated SPECIMEN,(Pick 15s, 17s), ink annotations in top margins, the first otherwise extremely fine, the second uncirculated (2).

Estimate: £350 - £500