Commercial Bank of Scotland Limited, £20, 31 July 1935, serial number 12/W 00085, blue and pale red and yellow, John Pitcairn low centre, classical frieze top centre, printed signatures of Thomson and Erskine, reverse blue, bank head office at centre, value at left and right, (PMS CO63c, Banknote Yearbook 423c), very fine, scarce.

Estimate: £500 - £550

SRN: Estimate changed to £500-550.