Watch List notes:

Government of India, 5 rupees, 12 January 1922, prefix CD/45, no issue branch letter, black and white, value in pink underprint at centre, McWatters signature low right, also 5 rupees, 17 January 1924, no prefix, colour and design as previous except Denning signature(Pick A6h, i, Razack-Jhunjhunwalla 2A.1.6.2/3), pinholes at left, fine and VG (2).

Estimate: £200.00 - £300.00