Watch List notes:

(x) Banco de Portugal, 100000 reis, 10 March 1909 (1916), serial number 16794, T, green and pale yellow, the arrival of Cabral in Lisbon in 1500, black REBUBLICA overprint on reverse, (Pick 111), fine and quite rare especially in this grade. Many examples of this type in poor grade, this a tidy example. Subject to 5% tax on Hammer Price in addition to 20% VAT on Buyer’s Premium. Not applicable to "Buy Now " offerings. For more information please view Terms and Conditions for Buyers.

Estimate: £ 1200 - £ 1600