20 francs type "paon" (SPÉCIMEN) - Banque de l'Indochine ND (1936).

P.7s - K.610b (R2).
Top Pop: the most beautiful graded example! Alphabet 0.00 - number 000. Signatures: Borduge / Baudouin. Vertical perforation "SPECIMEN" on the left side of the bill. From an American gentleman.
PMG 68 EPQ Superb Gem Unc (2462241-018).
Exceptional quality. NEW.

* Following Council Directive (EU) 2022/542 of April 5, 2022, implemented in national law from 01/01/2025, buyers from within the EU have to pay 5.5% VAT on the hammer price of this lot.
* Following Council Directive (EU) 2022/542 of April 5, 2022, implemented in national law from 01/01/2025, buyers from within the EU have to pay 5.5% VAT on the hammer price of this lot.