Watch List notes:

Banque de l'Afrique Occidentale, specimen/essay 50 francs, ND (ca 1936), serial number 0.00-000, blue, pale pink and multicoloured, young woman at centre with floral background, signatures of Keller and Pilay, reverse green and pale blue, man at centre, bull behind, foliage in background, value in pale red top left and right,(Pick Unlisted, TBB unlisted, Leclerc/Kolsky 169), in PMG holder 63 Choice Unc., this design used on the 25 francs of 1946, a surprising, extremely rare - and most probably unique - note.

Estimate: £2,400 - £2,800