Watch List notes:

Tahiti: very rare Specimen note of 5 Francs 1923 Banque de l'Indochine P. 4s, with vertical Specimen perforation and zero serial numbers, one light diagonal bend, several light creases at right border, some light handling in paper but no holes or tears, but minor split at upper right border, still original crisp and with original colors, condition: XF-.
[taxed under margin system]