Watch List notes:

Union Bank of Australia Limited, New Zealand, £1, 1 March 1905, serial number 4/N 236487, black and white, value in pale red guilloche at centre, the Chalon portrait of Queen Victoria at left, Brittania at centre with symbols of prosperity, two manuscript signatures below, NEW ZEALAND above and below, reverse green, arms and value(PS 362b, Robb M42), a presentable fine, scarce.

Estimate: £400.00 - £600.00