Watch List notes:

(x) Banque de Madagascar, specimen 1000 francs, ND (1926), zero serial numbers, yellow, pink and blue, allegorical woman representing Industry and Agriculture at left and right, frieze with scenes of men working at lower centre, reverse, dragons on left and right with allegorical man and woman as columns at centre, left watermark is Mercury, right watermark is Ceres,, (Pick 42s, TBB B207s), in PMG holder 53 About Uncirculated. Rare in any format, this one even scarcer without any perforations. A beautiful and classic large size French style note. French Africa classic..

Estimate: £4000 - £6000