NEW CALEDONIA. Tresorerie de Noumea. 1 Franc, 13.1.1919. P-34b. PMG Choice Uncirculated 64 EPQ.
Tied for finest in the PMG population report, this is a very challenging note from the late teens issued in New Caledonia in the South Pacific. Fully original, with nice embossing and good color for the type. This is the second iteration of this design, which has the penal code on the back in four lines.
From the Al Kugel Collection.

Estimate: $1000.00 - $2000.00