Watch List notes:

Bank of England, Kenneth Oswald Peppiatt, an Operation Bernhard 'Sachsenhausen' forgery £10 Peppiatt, 19 March 1938, L102 1820, £20 Catterns, 15 August 1933, 47M 75783, black text with Britannia upper-left and value lower-left,, (EPM B242, B243), about very good to good, both with holes along folds, several significant tears and £20 with small tape repair around centre, however still decent examples of 'Bernhards' (2).

Estimate: £50 - £100