Watch List notes:

(x) Banco de Portugal, 5 escudos, 25 June 1920, Ch.1, serial number 1AK 03050, brown and blue, portrait Alexandre Herculano in circular frame top centre, woman with outstretched arm holding headdress at left, value in elaborate panels top left, top and centre right and at centre, OURO in field low centre, reverse, brown and light green and yellow, castle at centre, (Pick 114), very fine.

Estimate: £300 - £400