Watch List notes:

(x) Banque de France, 20 francs, 9 April 1872, serial number J.636 789, blue, seated woman at lower centre, reverse, woman at centre, denomination at corners,, (Pick 55, Fayette A46.3), in PMG holder 40 extremely fine, early date, extremely rare in such condition.

Estimate: £2,500 - £3,500