Watch List notes:

Government of Gibraltar, £5, 1 May 1965, black serial number C 958653, brown and pink-orange, the Rock at low centre, value top centre and at each corner, signature of Ernest Davis at right, reverse brown and white, arms at centre, value at left and right(Pick 19a, TBB B117e), an attractive example, about extremely fine and a scarcer variety.

Estimate: £300.00 - £400.00