Watch List notes:

(x) Banco Nacional Ultramarino, Mozambique, 1000 reis, Lisbon, 2 January 1897, serial number 050:323, pale pink, native at left, ship at centre, reverse, light green,, (Pick 16), in PMG holder 15 NET choice fine, repaired, hole cancelled. There are no record of this note being offered in auction and the only note of this type have been graded by PMG at the time of cataloguing. Extremely rare.

Estimate: £6,000 - £7,000