Watch List notes:

Germany (West Germany Federal Republic) Bank Deutscher Länder 5 Deutsche Mark Pick 13i (Rosenberg 822) dated 9th December 1948 serial number 9C 206832, VF or slightly better. Black on green and yellow underprint featuring Woman holding the Sun (Europa) riding on a bull on obverse. Watermarked with Woman's head and printed by BDK without imprint.

Estimate: 25-50 GBP