Watch List notes:

(x) Bank of England, K. O. Peppiatt, Operation Bernhard, £5 (2), 1935, 1937, serial number A/233 02905, A/392 69611, black and white, crowned Britannia at top left, value in black tablet at lower left,, (EPM B241*), very fine to good very fine (2).

Estimate: £80 - £120