Watch List notes:

CONGO (DEMOCRATIC REPUBLIC): AV 25 francs, 1965, KM-4, Fr-3, 0.2333 AGW, 5th Anniversary of Independence, bust of President Joseph Kasa-Vubu // elephant left, mintage of only about 3,000 pieces, about 70% of issue melted, Proof, R, ex. Jerry D. Williams Collection.

Estimate: 325-375 USD