Watch List notes:

Banque Internationale de Luxembourg, 20 Mark, 1st July 1900, serial number 140163, Ser. XV, blue and brown on multicolour underprint, foundry worker with factory in background at left, reverse, ornaments and patterns, value at centre, (Pick 4) in PMG holder 25 very fine, minor repairs, very rare.

Estimate: £1,200 - £1,500