Watch List notes:

Bank of England, K.O. Peppiatt, £20, London 20 September 1934, serial number 49M 12565, 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), about extremely fine, fresh and original paper, a good early date example, rare in this grade.

Estimate: £1,000 - £1,500