Watch List notes:

(x) Trésorerie de Nouméa, New Caledonia, a set of 1918 second issue. 0.50 francs, 45807, 1 franc, 45390, 2 francs, 22604,(Pick 33b, 34b, 35b), 0.5 franc, slight vertical fold at right margin, signs of handling, small stain, in PMG holder 64 EPQ Choice Uncirculated, 1 franc in PMG holder 35 Choice Very Fine, 2 franc with stain at top left margin, in PMG holder 40 Extremely Fine (3).

Estimate: £300 - £400