Watch List notes:

(x) Banco Nacional Ultramarino, Angola, 20 escudos, 1 January 1921, red 587273, blue, green and multicoloured, Fancisco de Oliveira Chamico at left, steamship seal at right, arms low centre, two printed signatures below, red ANGOLA overprint at top centre, (Pick 59a), in PMG holder 25 VERY FINE, tape repairs, ink stamp, rare in issued format, only two other examples recorded on PMG Population Report..

Estimate: £350 - £400