Watch List notes:

Banque de Syrie et du Liban, Lebanon, specimen 5 livres, 1 September 1939, no serial numbers, brown on multicolour underprint, Cedar of Lebanon at right, value at left, horses at top left and right, green chevron overprint, Berard and Laferriere signatures, LIBAN in margin top centre, reverse brown and green, brown and green, the Port of Beirut at centre,, (Pick 27cs, Ayoub p.93), mounting traces at left, perforated, red SPECIMEN overprint, good extremely fine and scarce.

Estimate: £500 - £600