Watch List notes:

Banque de Madagascar, Comoros Overprint, 500 francs, ND (1960-63), serial number S.603 831, with "COMORES" overprint in red, signature Martin/Gonon,, (Pick 4b, TBB B103a), This is the provisional issue after Madagascar gained independence from the French, subsequently breaking up the monetary union between two countries. In PMG holder 64 Choice Uncirculated, very scarce in this grade.

Estimate: £600 - £1000