Watch List notes:

Macau: Banco Nacional Ultramarino, 1 pataca, 1.1.1912, serial number 109178, brown frame on blue underprint, denomination at each corner, handsigned at lower left, reverse in similar colours, Chinese and Portuguese text,(Pick 7), PMG 50EPQ About Uncirculated. A superb fresh original note. Of the 35 notes currently in the PMG population report this note is numerically the second highest grade with one note higher in 55. More importantly, it is the ONLY note with an EPQ status which in the cataloguer's opinion makes this the single best graded note overall. Rich and enticing colours on fresh paper, this note will surely attract the attention of even the most discerning collectors..

Estimate: 180000 - 350000