Watch List notes:

Belgium Banque Nationale 50 Francs / Frank = 10 Belgas / Belga Pick 100 dated 14th September 1927 serial number 0072B0958, in a PMG holder and graded VF 25 EPQ (Exceptional Paper Quality) and a rare note with this being one of only 3 recorded examples by the PMG Population Report at the time of writing. In brown on yellow underprint featuring a farm woman holding a sheaf of wheat and two horses. The reverse illustrating an Allegorical female figure holding a ship and a large cornucopia (a symbol of abundance & nourishment) and an industrial factory illustration in the underprint. These illustrations enframed in an exquisitely designed frame with agricultural produce, flowers and stars. A few tonal blue outlines appear on the note to attribute to the fabulous design. Watermarked with a bust of King Leopold I of Belgium.

Estimate: 75-100 GBP