Watch List notes:

(x) Institut d'emission Malgache, 10000 francs = 200 ariary provisional issue, ND (1961), green and multicoloured, indigenous couple at centre, black overprint, also a specimen 1000 francs = 200 ariary, ND (1963), zero serial numbers, red and multicoloured, President Tsiranana at centre, canoes at left,(Pick 54, 56s), very fine and good very fine and scarce (2).

Estimate: £300 - £400