Watch List notes:

(x) Bermuda, British Administration, £5, 1st May 1957, serial number N/1 285221, orange and green, Queen Elizabeth II at right, tourist at lower left, values at each corner, reverse, Royal crest at centre, (Pick 21c, TBB B122c), in PMG holder, 35 EPQ Choice Very Fine.

Estimate: £130 - £200