Watch List notes:

Macau: Banco Nacional Ultramarino, 100 patacas, 16.11.1945, serial number 087707, violet on light orange and green, Temple at right, denomination at each corner, reverse in similar colours, steamship seal at centre,(Pick 33), PMG 20 Very Fine (Annotations). An extremely rare note that is only ever encountered in either specimen or colour trial form if at all. The first issued example handled by the cataloguer, no issued examples on Track and Price and the ONLY note in the PMG population report. A phenomenal rarity and a true gem indeed!.

Estimate: 30000 - 60000