Watch List notes:

France: Régie des Chemins de Fer des Territoires Occupés (RCFTO), lot with 14 banknotes ND(1923), with 2x 0,05 Franc, 0,10 Franc and 11x 1 Franc (P.R1, R2, R5, F- to VF). (14 pcs.)
[taxed under margin system]