Watch List notes:

Portugal - Republic - 12 expl. 2$50 1932 a 1951 AR. 2$50 1932, 33, 37 (MBC-), 40, 42, 43, 44, 45, 46, 47, 48, 1951. Série completa. Gomes 30.01 a 30.12, KM 580. MBC a BELA
Almost VF to EF

Estimate: 400-500 EUR