Watch List notes:

(x) Banco Nacional Ultramarino, Portuguese India, 500 rupias, 1945, serial number 019894, (Pick 40, TBB B329g), in PMG holder 30 NET Very Fine, rust damage, mostly cancelled notes with punch holes are known. Issued note without cancellation are very rare and only few known in private collections. To our knowledge this note was never offered in a public auction until now.

Estimate: £4000 - £6000