Watch List notes:

Bank of England, K.O. Peppiatt, £20, London 20 September 1934, prefix 49M, black and white, ornate crowned vignette of Britannia top left, 'I promise to pay the Bearer on demand the sum of Twenty Pounds', value in black tablet low left,, (EPM B243), in PMG holder, 55 About Uncirculated, as made paper maker's notch, minor rust, a pleasing early date example.

Estimate: £900 - £1,000