Watch List notes:

National Bank of Egypt, printers archival specimen £5, 18 October 1916, serial number W/10 000001-W/10 100000, purple on multicolour underprint, view of the Nile and the Great Pyramid at left, CANCELLED perforation(Pick 13s, Hanafy M2 for type), ink annotations, PCGS 64, choice uncirculated, rare.

Estimate: £2,000 - £2,500