Watch List notes:

Standard Bank of South Africa Limited, Rhodesia, specimen £10, Durban 27 August 1896, serial number Z -, pale brown and tan, red SALISBURY ISSUE vertically at left and right, reverse initials in black S.B.S.A.L.(Pick S134 for type, Hearn unlisted), perforated CANCELLED, red manuscript 'Specimen' vertically at left centre, maroon handstamp CANCELLED at left and right, in PMG holder 45 choice extremely fine and excessively rare and possibly the only example believed extant. Pick states £10 'Not issued'.

Estimate: £5,000 - £6,000