Watch List notes:

THE NATIONAL BANK OF NEW ZEALAND LIMITED, fifty pounds, black and white three quarters of a printer's proof, Auckland, inscribed 'To this Decr 9 1896', not numbered, back plain; The Bank of Australasia, fifty pounds, black and white three quarters of a printer's proof, Christchurch, 17th April 1896, plain on back. Some spots some slight thinning, otherwise nearly uncirculated and rare. (2)