Watch List notes:

(x) Government of Bermuda, specimen 2 shillings and 6 pence. 1 August 1920, serial number A/1 00000, red on green underprint, George V at centre, value across centre and at low left, signature of Allan Frith Smith, reverse green, ship at centre, flanked by values, small purple SPECIMEN overprint at low right, perforated CANCELLED,(Pick 2s, TBB B102s, Aspen p.53), in PMG holder 50 NET About Uncirculated, edge damage at left from previous mounting. This is the Banknote Book plate note and without doubt the rarest of the early issues: the only example Spink have handled in the last decade and furthermore this example absent from the David Saul Collection. A note of the utmost rarity..

Estimate: 35000 - 40000