MACAU. Banco Nacional Ultramarino 1 Pataca, 1.1.1912. P-7.
An early BWC design type for the issuer and the finer of two we are offering. Large stamped signature at left and seen with only a minor split at lower center and small hole at center. PMG also mentions "Foreign Substance," in the comments section of the holder. PMG Very Fine 20 Net. Minor Split & Foreign Substance.