Watch List notes:

(x) Banco de Portugal, 50 mil reis, 30 September 1910, Ch.4, serial number C 06476, blue and pale pink and green, a Middle Eastern potentate at left with courtiers, Portuguese delegation at right seeking audience, arms low centre, red Bank seal at centre, black REPUBLICA overprint low centre, reverse blue, medal of Lusitania at right, (Pick 110), about fine, rare in issued format.

Estimate: £300 - £500