Watch List notes:

(x) Bahamas Government, £5, ND (1945-46), serial number A/1 042311, blue on tan/orange underprint, George VI at right, sailing ship seal at left, value at corners, Stewart, Latreille and Burnside signatures, reverse blue and multicoloured, arms at left, value at right(Pick 12a, TBB B111b), low left tip excised, very good, scarce.

Estimate: 120 - 160