Watch List notes:

France: Very nice set with 12 banknotes comprising for the Régie des Chemins de Fer des Territoires Occupés (RCFTO) issues 0,05, 0,10, 0,25, 0,50, 1 and 5 Francs ND(1923) P.R1-R6, for the Military issues Trésorerie aux Armées 2x 50 Centimes and 2x 1 Franc ND(1917/19) P.M1, M2, M4, M5 and for the Trésor Français issue 5 and 10 Francs ND(1947), P.M6, M7, Condition: F to XF. (12 pcs.)
[taxed under margin system]