Watch List notes:

Bank Deutscher Lander, Germany, specimen 5 Deutsche Mark, 9 December 1948, red serial number A 000000, black on green and yellow underprint, Europa astride bull at right, value in ornate guilloche at centre, reverse value in ornate guilloche at upper centre and at lower right, (Pick 13s), red DLR seal, in PMG holder 61 NET Uncirculated, scarce.

Estimate: £200 - £250