Watch List notes:

Bank of Scotland, £20, 6 February 1951, serial number 9/I 0863, uniface, brown and light orange, bank arms top centre flanked by value in reddish-brown tablets, thistle motif on panel at left, grey medallion low centre with bank title above, Elphinstone/Crawford signatures,, (PMS BA109c), two vertical folds, extremely fine.

Estimate: £200 - £250