Watch List notes:

(x) Reserve Bank of New Zealand, £50, 1 August 1934, serial number T019606, dark red, green and pink, kiwi bird at left, arms top centre, the Maori King Tawhiao at right, reverse red, Mitre Peak and Milford Sound, Leslie Lefeaux signature low centre(Pick 157, TBB 104a, Robb R171), in PMG holder number 30, very fine, extremely rare, especially in this condition and in issued format, a superb note.

Estimate: £22,000.00 - £28,000.00