Watch List notes:

(x) Portugal, Banco de Portugal, 50 escudos, specimen/proof, without date (1930) or serial numbers, violet, brown and multicoloured, portrait of Borges Carneiro at centre left, arms at lower centre, reverse blue on pale green and lilac underprint, Coimbra University at centre, medallic female head at right, handwritten '25-Fec-1930', and countersigned by a bank official,(Pick 144pr), in PCGS holder 45 Extremely Fine. Two blue ink spots in watermark area, extremely rare.

Estimate: £400 - £600