Watch List notes:

Bank of England, Catterns, Operation Bernhard, £50, London, 20-6-1932, #48N 67466 (Dugg. 231type; WPM 331type). Important, German produced, NOT a Bank of England issue. Staining, trimming, edge nicks, pinholes, "paper makers notch" at right, NVF.
(50-60 GBP)