Watch List notes:

Union Bank of Australia Limited, New Zealand, Uniface Obverse/Reverse Colour Trial Specimen £5, ND (1923), Wellington, specimen number 445, obverse, lilac, orange and black, Queen Victoria at upper centre, Britannia and symbols of commerce at lower right, reverse, deep bright red, patterns, values at centre and each corner, (Pick S373cts1, S373cts2), three punch holes on each, in PMG holders, obverse, 67 EPQ Superb Gem Unc, reverse, 66 EPQ Gem Unc, a pleasingly appealing and extremely rare set (2).

Estimate: £3,500 - £4,500