Watch List notes:

(x) Government of Malta, issued specimen 5 shillings, 20 November 1918, serial number A/1 22555, pink-red, blue and peach underprint, King George V at right, value in tablet at left and lower left, signature Pace, reverse, brown, Valetta Harbour at centre,, (Pick 10, TBB B109), perforated CANCELLED, pinholes, Treasurer Title and Signature Added, in PMG holder 55 about uncirculated, an attractive note and very rare.

Estimate: £25,000 - £32,000