Watch List notes:

(x) Banco de Portugal, 500 escudos, 17 November 1922, serial number 1B03054, purple and black on tan underprint, portrait of Vasco de Gama at left, sailing ship at right, (Pick 130), in PMG holder 53 About Uncirculated, second highest grade on PMG census, interesting and scarce series.

Estimate: £2,000 - £3,000