Watch List notes:

Madagascar (3) a trio of the 5 Francs Pick 35 ND circa 1937 in average GVF (3) including block B.2159 series 134 number 53951134, block L.1507 series 457 number 37660457 and block N. 2409 series 950 number 60212950. All in red-brown on mainly green and blue underprint and a French design print and text featuring a portrait of the goddess Juno. Possible artist imprints read L. Leclero at lower left and E. Deloche SC. at lower right.

Estimate: 30-50 GBP