Watch List notes:

(x) Portugal, Banco de Portugal, control number specimen 500 Escudos, 4.5.1922, Ch.1, serial number range 1AB 00,001 to 1AB 20,000, brown on multicoloured underprint, portrait of Joao de Deus at left, arms at upper right, ink date '13. 6. 22', reverse dark green, pink and multicoloured, allegorical child with pipes at right, value in guilloche at centre and at right, perforated CANCELLED(Pick 129s), in PCGS holder 35 Very Fine, small tears at right and lower border, a rare type in any form and a unique serial number range.

Estimate: £2000 - £3000