Watch List notes:

Banco Nacional Ultramarino, Macau, obverse and reverse die proof for 25 patacas, 1948, brown print, portrait of L. de Camoes at right, value at centre and each corner, reverse brown, woman watching ships at left,, (Pick 46pp, KNB43, TBB B047), in PMG holder 63 Choice Uncirculated and 62 Uncirculated (tear), rare (2 notes).

Estimate: £1100 - £1500