Watch List notes:

(x) Bank of England, Basil Gage Catterns, an Operation Bernhard 'Sachsenhausen' forgery £50, 20 June 1930, serial number 44N 52180, black and white, seated Britannia in ornate circular frame at top left, value in black tablet low left,, (EPM B231*), good very fine.

Estimate: £100 - £120