Watch List notes:

(x) Banco de Portugal, 500 escudos, 11 March 1952, Ch.8, serial number FX 03498, red on multicolour underprint, portrait Don Joao IV at right, bank title and arms top centre, value in each corner and at centre, reverse, King surrounded by courtiers, (Pick 158), about very fine.

Estimate: £200 - £300