Watch List notes:

Banco Nacional Ultramarino, Macao, specimen 500 Patacas, 8 August 1981, serial number NA000000, olive-green on multicolour, V. de Morais at right, reverse bank seal with sailing ship at left, harbour scenery at centre, diagonal red overprint SPECIMEN at centre of obverse and reverse, perforated at signatures,, (Pick 62s1), in PMG holder 65 EPQ Gem Uncirculated, printed in black ink at reverse upper left corner control number '019'.

Estimate: £320 - £420