Watch List notes:

Banque de l'Afrique Occidentale, 50 francs, Dakar, 11 February 1926, serial number S.134-963, blue and orange, sun setting over the sea, elephant low left and right, signatures of Boyer and Nouvion, reverse pale brown,(Pick 9Bd, TBB B103Dd, Leclerc/Kolsky 84), pinholes, fine.

Estimate: £150 - £200