Watch List notes:

Lahore, India (British), original proof rupee, 1945-L, George VI, normal 5, PCGS PR65, finest and only example in PCGS census (and none at NGC). S&W-9.35. Broad flan, deep rainbow toning (speckled on obverse), no marks or wear, rare as an original proof (not a restrike) with original mint envelope, and presumably the finest known, ostensibly nicer than the only other example we have seen at auction in recent times (the Pittman specimen sold at Baldwin's in 2013). This and the next three lots comprise an important original proof set that was produced during World War II just prior to full Indian independence in 1948. PCGS #36334453. With original His Majesty's Mint paper envelope.
($4000-6000)