Watch List notes:

Banco de Angola, an obverse and reverse composite essay on board for a proposed issue of 100 angolares, 1 March 1927, red serial number 00000, blue and pale green, the arrival of Diogo Cao in Angola top centre, value at left, portrait of Diogo Cao at right, reverse blue, arms at centre, value at left and right and low centre, (Pick unrecorded design, TBB B unrecorded design), reverse only in PMG holder 65 EPQ Gem Uncirculated, unique (2).

Estimate: £2,000 - £2,500