Watch List notes:

(x) Schweizerische Nationalbank, 5 francs, 31 August 1946, prefix 32B, purple, pale blue and green, William Tell at left, brown and grey, value at centre, also 20 francs, 1939, prefix 13U, blue and pale red, Pestalozzi at top right(Pick 11l, 39j), about extremely fine (2).

Estimate: £50 - £60