Watch List notes:

Bank of England, F. May, £10, London, 9 February 1885, serial number 37T 72318, black and white, ornate crowned vignette of Britannia top left, 'I promise to pay the Bearer on demand the sum of Ten Pounds', value in black tablet low left,, (EPM B206b), good very fine, lightly pressed and paper-makers notch to upper-right margin, a lovely and very rare example of a high-denomination May banknote. All May £5 are rare, any other denomination very rare thus this example an exceptional rarity.

Estimate: £10000 - £12000