Watch List notes:

(x) Reserve Bank of New Zealand, £5, 1 August 1934, green serial number 3K 892535, blue on tan underprint, Maori King Tawhiao at right, Kiwi bird at left, arms at centre, value at corners, signature of Leslie Lefeaux, reverse blue, Milford Sound at centre, (Pick 156, TBB B103a), slight ageing stain low right otherwise a pleasing very fine and quite scarce.

Estimate: £300 - £350