Watch List notes:

(x) Banco de Portugal, proof 5 Mil Reis, ND (1913), no serial numbers, black on blue and multicolour underprint, portrait Marquez de Pombal at left, reverse arms at centre, woman seated at right, (Pick 104pr for type), about uncirculated, printers pencil date 'July 1913' in top margin, rare.

Estimate: £400 - £500