Watch List notes:

Government of India, 5 rupee, (L) Lahore, 8 September 1913, serial number EC/86 83363 black and white, value in pale pink-red at centre, L low left and right, Howard signature low right, (Pick A5s, Razack-Jhunjhunwalla 2A.1.4 E), two left staple holes from issue and another small pinhole upper-centre, some rusting along folds at reverse and bottom-left corner nevertheless a very fine, a rare branch and signature combination with no record on Track and Price.

Estimate: £400 - £500