Watch List notes:

Scotland Commercial Bank of Scotland 5 Pounds Pick S328b (BY SC413c, PMS CO62c) a very first date for this rare early example 30th April 1934 signatures R. R. Thomson & Sir J. Erskine serial number 14/Q 11537, impressive and very Rare large sized note in VF with only 80,000 recorded issues of that date. In black and blue on yellow and red underprint featuring a portrait of Lord Pitcairn (First Chairman of the Bank) at bottom centre and Allegorical figures at upper centre, the same as the pediment on the head office building, on obverse. The reverse with a large elaborate guilloche panel with an illustration of the Bank's head office building at centre flanked by numerical values. A pleasing early example, very seldom seen and well kept considering it's large sized nature and printed by Water low & Sons Limited, London Wall, London E.C. imprinted in small script at lower centre on obverse, which designs are regarded as amongst the very finest of the 20th century Scottish notes

Estimate: 55-110 GBP