Watch List notes:

Banco de Angola, an obverse and reverse composite essay on board for a proposed issue of 100 angolares, 23 April 1947, black serial number A 234569, blue and pink, arms supported by cherubs low centre, urn low left and right, value top left and right, portrait of D. Francisco Inocencio de Sousa Coutinho in black oval frame, also an additional separate portrait of Coutinho, reverse brown, a scene depicting the founding of Benguela in 1617, value at each corner, (Pick 81 for similar, TBB B 411 for similar), a Waterlow seal on the mount which is strange as the issued notes printed by De la Rue. Attractive, unique (2).

Estimate: £1,500 - £2,000