Watch List notes:

Banque Centrale, États de l'Afrique Équatoriale, Equatorial African States, 100 francs, ND (1963), serial number T.5 D (Gabon) 20685, red-brown and pale yellow, an elderly gentleman of Chad at right wearing an embroidered cap, village with 'cases-obus' at left, signatures of Gautier and Panouillot, reverse brown and multicoloured, elephants,(Pick 3d, TBB B201d, Leclerc-Kolsky 552d), in PMG holder 65 EPQ Gem Unc., only three examples listed on 'Track & Price' at time of cataloguing and only one in the highest grade of 55, this a considerably scarcer type than may be presumed and consequently rare.

Estimate: £400 - £500