Watch List notes:

(x) Institut d'Emission, Malagasy Republic, 1000 francs, ND (1966), serial number G.7 23339, multicolour, woman and man at left, reverse, two zebu cattle pulling cart, also a Banque de Madagascar, 5 francs, ND (1937),, (Pick 59, 35, TBB B109, B202), pinholes, very fine, second note about uncirculated (2).

Estimate: £130 - £180