Watch List notes:

Bank of England, C.P. Mahon, £5, Liverpool 6 August 1925, serial number 252U 42402, black and white, ornate crowned vignette of Britannia top left, 'I promise to pay the Bearer on demand the sum of Five Pounds', value in black tablet low left,, (EPM B215e), in PMG holder 25 NET Very Fine, internal tear, annotations, as made paper maker's notch, bank stamp low-centre, scarce with this one of only eight recorded.

Estimate: £200 - £300