Watch List notes:

French West Africa: Banque de l'Afrique Occidentale, lot with 7 banknotes, 1932-1954, with 5 Francs 1932 (P.5Be, F/F-), 5 Francs 1936 (P.21, VG/F-), 25 Francs 1942 (P.30a, UNC), 1 Franc 1944 (P.34a, VF with rusty spot), 5 Francs 1949 (P.36, VF), 10 Francs 1954 (P.37, F-) and 25 Francs 1948 (P.38, F/F- with small tear). (7 pcs.)
[taxed under margin system]