Watch List notes:

Bank of England, Percival Spencer Beale (1949-1955), specimen £5, London 1 March 1949, serial number M00 000000, black and white, ornate crowned vignette of Britannia top left, 'I promise to pay to Bearer on demand the sum of Five Pounds' in text at centre, value in black tablet low left, printed serial number, date and signature,, (EPM B270s, Pick 344s), red 'SPECIMEN' overprint, in PMG holder 63 Choice Uncirculated. Rare.

Estimate: £1200 - £1600