Watch List notes:

Commercial Bank of Scotland Limited, £20, 2 January 1947, serial number 13C 11968, blue, John Pitcairn top centre right, maidens (Ceres and Commerce) top centre, classical female head diademed low left, Erskine signature, reverse blue, bank head office at centre, value at centre, (PMS CO68a, Banknote Yearbook 424a), original, extremely fine.

Estimate: £200 - £250