Watch List notes:

(x) Bermuda Government, 10 shillings, 30 September 1927, serial number O 132566, red on yellow and blue underprint, George V at right, Ordnance Island and Saint George Harbour at centre, reverse red, arms at centre(Pick 4a, TBB B104a), in PMG holder 30, very fine, very rare.

Estimate: £3,000 - £4,000