Watch List notes:

London, Great Britain, Bank of England, counterfeit 20 pounds, 20-7-1936, block 52/M, serial 85729, Operational Bernhard counterfeit, PMG AU 50. SCWPM-337Ba; Schwan-Boling-183. A counterfeit note produced by Polish and Jewish prisoners held by the Nazis in the Sachsenhausen concentration camp during World War II. Prisoners produced notes in quantity and went so far as to handle and dirty them to simulate circulation. Towards the end of the war, the Nazis dumped the notes into lakes and rivers where some were recovered by Allied forces. Bright white example with bold inking, the PMG label mentions paper maker's notch (an element from the printing process) and pinholes. PMG #5080152-034.

Estimate: $200-300