Watch List notes:

(x) Banco de Portugal, a printers archival proof 20 mil reis, ND (1901), without serial numbers, blue and orange, allegorical classical female figure at left and right, value in pale orange guilloche at centre, reverse blue, D.Affonso Henriques at centre, helmeted female profile at left and right, (Pick 82s), PMG Top Pop 63 Choice Uncirculated, very rare in this format and especially in this grade.

Estimate: £2,200 - £3,200