Watch List notes:

Bank of New Zealand, specimen £10, Wellington, 1 October 1919, serial number 090001-110000, blue and multicoloured, Maoris and pastoral scenes at low left and right, reverse multicoloured, arms top centre, value at left and right, (Pick S229 for similar), in PMG holder, 66 EPQ Gem Uncirculated, perforated SPECIMEN, pen annotation at top margin '073596' and '26.9.19', rare.

Estimate: £2,400 - £2,800