Watch List notes:

(x) New Hebrides, Banque de l'Indochine, 20 francs, ND (1945), serial number F/T 253468, green, woman wearing wreath and ribbon in hair with oval red NOUVELLES HÉBRIDES FRANCE LIBRE overprint at left, three men on large boat at centre, seated native man holding spear at right, reverse, mask at centre(Pick 7, TBB B204a), in PMG holder, minor rust, tiny pinholes at left, 25 Very Fine, rare especially in this grade, Lin Zhan Wei Collection.

Estimate: £200 - £250