Watch List notes:

France, Third Republic (1871-1940), Matte Silver essai 25 Centimes 1904, Patey (Silver, 7.00 gr, 25 mm) Laureate bust left RÉPUBLIQUE FRANÇAISE Rev. Oak leaves divide date and denomination, column with axe head on top at left. Plain edge. Gadoury 364, Mazard cfr. 2135c. PCGS SP66
Of the highest rarity, unreported.