Watch List notes:

Experimental and advertising notes (16), Waterlow & Sons Limited advertising/promotional note c.1950s, Sir Philip H. Waterlow portrait at centre, reverse is inverted, thin border. about UNC, Test notes inc Euro and Experimental Trafalgar (IBSS Congress 1995) and RABOBANK set of five. EF. (16)

Estimate: 40-60 GBP