Watch List notes:

Belgium World War I Emergency "Necessity Money" Notgeld & Private issues (150) a collection in an album in mixed mostly very high grades to UNC comprising 5 Centimes to 100 Francs from a variety of issuers as Aubel, Ville de Verviers, Ville de Leuze, Ville de Huy, Willebroeck, Eename, Sint Blasisus-Boekle, Commune de Bilstain, Commune de Hodimont, Commune d'Ensival, Antwerpen, Nederbrakel, Ville de Binche, Ville de Namur, Dendermonde, Comite Local de Chatelineau, Ooestende, Mechelen, Kortruk, Grand Bazar de ka Okace Sint Lambert, Norderwijck and others. Some cut canceled, some puncholed "PAYE" and a few retaining the counterfoil. Also includes a propaganda note 1000 Francs. Germany Reichsbanknote (2) including 20 Francs and 50 Francs both stamped "Centre de Rassemblement" Pick 181 and Pick 182 for type. Andre Dumont Watrschei 20 Francs with counterfoil and stamped "Annule" dated 17th May 1940. During the German occupation of Belgium during World War I there was a shortage of official coins and banknotes in circulation and as a result around 600 communes, local governments and companies issued their own unofficial currency to enable the continued functioning of the local ecnomies. The National Bank of Belgium's museum digitized it's collection which is available online. The lot is accompanied by a catalogue of these notes by Jean-Rene De Mey titled "Repertoire des Billets de Necessite Communaux Et Prives Bleges (1914 - 1919)" issued 1991

Estimate: 500-720 GBP