Watch List notes:

Commercial Bank of Scotland Limited, £1, 2 January 1923, serial number 21/I 671/105, blue and pale orange, bank offices top centre and at left and right, classical frieze low centre, value in pale orange underprint at centre, Scotia low centre, printed signatures of Mackay and Roberts, reverse blue, Scotia at centre(PMS CO48a, Banknote Yearbook SC402b), last date of issue for type, fine, scarce.

Estimate: £200 - £300