MADAGASCAR. Banque de Madagascar. 20 Francs, ND (1937-47). P-37. Uncirculated.
This 20 Francs note displays a vividly inked design on creamy white paper. Two women are seen shaking hands under foliage at right on what appears to be a dock next to water. The reverse of the note displays a man at left with a watermark of a woman's head at right. Seldom encountered this nice.
Estimate: $500.00- $1000.00