Watch List notes:

Madagascar: Pair of 500 Francs, one of the Banque de Madagascar et des Comores issue 1955, P.47a with signature title above: "Controleur Général" (VG with small repairs) and the other one with overprint Institut d'Émission Malgache / Famoaham-Bolan'ny Repoblika Malagasy 1958, P.53 (F with pinholes). (2 pcs.)
[taxed under margin system]