Watch List notes:

Banque de L'Afrique Occidentale, 25 Francs, 9 July 1925, serial number U.200 549, grey-brown and green, sunset over ocean at centre, trees left and right, elephant heads in lower corners, reverse pale red, arabique writing and arabesque geometric design,, (Pick 7Bb), a pleasing very fine.

Estimate: £120 - £150