Watch List notes:

(x) Banco de Portugal, 500 reis, 27 December 1904 (1917), Ch.3, serial number AM 09212, dark grey on green underprint, bank title and arms top centre, value in ornate panel at left, black REPUBLICA overprint top centre, reverse, helmeted woman at right together with two further examples, (Pick 105a), about extremely fine to about uncirculated (3 notes).

Estimate: £140 - £220