Watch List notes:

(x) Banco de Portugal, 500 Escudos, 18 November 1932, Ch.5, serial number H 05564, brown-purple and blue-black on multicoloured underprint, Jose da Silva Carvalho in oval at left, Queluz National Palace at lower centre, reverse green, Queluz Palace gardens at centre, head of Liberty wearing Phrygian cap in decorated oval at lower right, (Pick 147), in PMG holder 50 About Uncirculated, rust lightened, staple holes, only one note in a higher grade, scarce and an attractive note.

Estimate: £950.00 - £1,400.00