Watch List notes:

(x) Turkish Republic, 1000 livres, AH 1341, red serial number Serie 7, 00506, blue and pale orange, portrait of Kemal Ataturk at right, value at each corner, reverse blue and pale orange, Sakarya Train line and the Geyve gorge at centre, lattice work design at left, value low left and right(Pick 125), blue crayon at centre, perforated. A bold watermark and without doubt the most sought-after and valuable of all the Republic issues. Of the highest rarity and an important note. Pinholes at left otherwise a bold and original extremely fine. Only a few examples believed extant and this an issued example.

Estimate: £12,000 - £18,000