Watch List notes:

(x) Bank of Madras, India, 500 rupees, Madras, 15 October 1845, serial number 1366, black and white, equestrian statue of Sir Thomas Munroe top centre, ornate engine turning border around, two manuscript signatures below, value low left and at each corner(Pick S145, Razack-Jhunjhunwalla 1C.3.1.7), in PCGS holder 20 Very Fine, major repair and annotated, extremely rare.

Estimate: £8,000 - £10,000