Watch List notes:

Banque de Madagascar, a group of the 1926-1948 issue, 5 (2), 10 (2), 20 (2), 50, 100 & 1000 francs, all in period art deco designs, the lower denominations green, blue and yellow respectively, all with signatures of Dejouney & Chaudun,, (Pick 35b (2), 36b (2), 37b (2), 38b, 40b & 41b), 5 francs UNC and AUNC, the 10s and 20s each a pressed VF and UNC, the 50 good fine, 100 pinholes minor rusting about very fine, the 1000 one split just into design otherwise fine, a fascinating signature-group (9).

Estimate: £250 - £350