Watch List notes:

(x) Reserve Bank of New Zealand, partially hand executed obverse and reverse composite essay for a $20, ND (c. 1979), serial number HE000000, dark green on multicoloured underprint, Elizabeth II at right, value at top left and low right, Hardie signature at low centre, reverse green and olive, New Zealand Pigeon at centre right, value at top right and low left, (Pick 173 for eventual design), both in PMG holders 66 EPQ gem uncirculated, this portrait previously unknown, unique and extremely attractive (2).

Estimate: £2,000 - £3,000