Watch List notes:

(x) Institut d'emission Malgache, 100 (2), 500, 1000 and 5000 francs, ND (1966), multicoloured, local scenes, also later issues specimen 50, 50 (2), 100, 500, 1000 and 5000 francs (1969/1974),(Pick 57a, b, 58a, 59a, 60a, 61a, 62as, 62a, 63a, 64a, 65a, 66a), good very fine or better, the 500 francs extremely fine, scarce, later issues uncirculated (12).

Estimate: £200 - £250