Watch List notes:

(x) Government of Gibraltar, specimen £50, 6 August 1914, serial number B000000, uniface, red on green underprint, arms at top centre, value at left and right, small purple SPECIMEN stamp and large CANCELLED perforation,(Pick 10s, TBB B110as), this is the Banknote Book plate note, minor rust at reverse, in PMG holder 63 Choice Uncirculated and as far as the cataloguer is aware the only example in private hands, outstanding and supremely rare.

Estimate: 40000 - 50000