Watch List notes:

French Indo-China, 1 Cent 1941 (Hanoi) (Zinc, 6.00 gr, 28 mm) Wreath surrounds center hole, liberty cap above, denomination below REPUBLIQUE FRANÇAISE Rev. Center hole divides denomination, wreath surrounds, date below INDOCHINE FRANÇAISE. Plain edge. KM 24.3. PCGS MS62
Vichy Government issue.