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Auction: CSS120B - Hong Kong, Macau, World Banknotes and Coins
Lot: 1009

Banco Nacional Ultramarino, Macau, 5 patacas, 1921, serial number 185686, green on yellow, junk at right, steam ship at left, arms at upper centre,
(Pick 8), PMG 20 NET, repaired, annotation. With only 58,000 issued for Macau circulation compared to 242,000 which was overprinted for Timor. Very rare especially in this condition.

Estimate
HK$45,000 to HK$65,000

Starting price
HK$45000