Watch List notes:

(x) Banco de Portugal, a printers archival specimen / proof 500 Escudos, ND (1928), no serial numbers, purple and blue on multicoloured underprint, portrait of the Duque de Palmella at upper right, castle at lower left, arms top centre, reverse green, tree and horse-drawn carts at centre, bank arms at left, one punch hole, (Pick 141pr), PMG Top Pop 63 Choice Uncirculated, punch hole cancelled, previously mounted, very rare and attractive.

Estimate: £1,000.00 - £1,500.00