Watch List notes:

Republica Portuguesa, Angola, 50 Centavos, 1921, black serial number 024959, brown and white with red text, Liberty with plough in field, arms low right, also 5 centavos, 1918, pale orange and grey, (Pick 62a, 49a), extremely fine and fine respectively, both scarce (2).

Estimate: £45 - £50