Watch List notes:

(x) Banco de Angola, an obverse hand executed essay on board for a proposed issue of 50 angolares, ND (type of 1944), red serial number A 000000, 1 March 1927, red serial number 00000, green, pink and pale orange, arms and caduceus at centre, indigenous native with paddle left centre, value at each corner, Manuel Cerveira Pereira in rectangular at right, native head at left, also obverse and reverse black and white photograph for an issued 50 angolares, simailiar design to the hand drawn essay, faint outline of Pereira at right, reverse, faint outline of of Founding of Benguela,, (Pick 80 for similar, TBB B410 for similar), a much cruder hand drawn essay for the 50 escudos and presumably an initial version of the issued note, essay in PMG holder, unique. 'Photographs with 'BANCO DE ANGOLA' stamp at reverse, interesting (3).

Estimate: £280 - £320