Watch List notes:

Treasury Series, John Bradbury (1914-1919), specimen second issue £1, ND (23 October 1914), serial numbers B/31 23209, black and white, crowned head of George V top left, crowned arms top right, value in black panel at centre, value low left,, (EPM T11.1s, Pick 349as, Banknote Yearbook TR14as), a Waterlow printing. Mounting traces, in PMG holder 53 About Uncirculated. Red SPECIMEN overprint on an issued note in the absence of true specimens. Extremely rare.

Estimate: £1500 - £2000