Watch List notes:

Union Bank of Scotland, £20, 2.12.1946, serial number 160/031, blue, yellow and red sunburst design at centre, arms top centre, equestrian statue at left and right,, (PMS UB 66e, Pick, S813c), About EF, pressed and sporting the usual two vertical folds and a tiny hole at one fold but retains good paper quality.

Estimate: £400 - £500