Watch List notes:

Bank of Scotland, £20 (2), 10 November 1949, serial number 5/I 1236, 6 February 1951, serial number 9/I 2423, brown on pale orange underprint, arms top centre flanked by value in red tablets, bank title and grey medallion at centre, ornate vertical panel at left(Banknote Yearbook SC142b, c), a few nicks in margins, otherwise fine (2).

Estimate: £100.00 - £120.00