Watch List notes:

French Indo China, 100 Piastres, Haiphong, 9.4.1919, serial number O.17, 472, green and brown, allegorical figures of a woman with wreath and olive branch and a man in local costume, reverse red, vertical format with Chinese characters,(Pick 18), PMG 30 Very Fine (Pinholes) and a scarce place name of issue. Only 15 notes graded in the PMG population report and 30 is the highest grade. Scarce and choice..

Estimate: HK$42,000 - HK$52,000