Watch List notes:

African Banking Corporation Limited, Transvaal Issue, South Africa, specimen £5, Johannesburg, 189-, no serial number, black on tan underprint, TRANSVAAL ISSUE at top centre, maiden in oval frame upheld by cherubs at lower left, value at right, reverse brown, map of Africa in frame at centre, value on either side and in each corner,, (Pick S554s, Hearn 3), two small perforations, red SPECIMEN overprint, in PMG holder 53 about uncirculated and 'Johannesburg' rare.

Estimate: £600 - £800