Watch List notes:

Madagascar: Institut d'Émission Malgache, very nice high value lot with 6 banknotes, 1961-1969 series, with 100 Francs ND(1961) (P.52, VF with rusty staple holes), 100 Francs ND(1966) (P.57a.1, VF with pinholes and larger stain), 500 Francs ND(1966) (P.58, VF+/XF with tiny spot), 1.000 Francs ND(1966) (P.59, XF), 5.000 Francs ND(1966) (P.60, F/F-, larger rusty hole left border, tiny hole at center and small border tear) and 50 Francs ND(1969) (P.61, XF+/aUNC). (6 pcs.)
[taxed under margin system]