Watch List notes:

Banque d'etat du Maroc, specimen 500 francs, ND (1946-48), serial number O.00, brown, red, yellow and blue, French text, cacti, trees, and buildings in Fez, denomination at lower right, reverse, Arabic text, floral designs, arabesque pattern, watermark, lion's head, (Pick 15s, TBB B215fs), perforated SPECIMEN, in PMG holder, previously mounted, tear, 62 Uncirculated.

Estimate: £400 - £500