Watch List notes:

Banca d'Italia, 50 lire, 22 January 1915, serial number R122 5450, blue-grey and pale pink-orange, Italia at right, red Italia seal top centre, Canovai and Sacchi signatures, reverse farmer and plough team(Pick 43b, Gavello 68), completely original, one light central fold, some handling, annotation in margin, staple hole at left, good extremely fine, a superb example of a rare note.

Estimate: £350 - £450