Watch List notes:

Commercial Bank of Scotland Limited, specimen £1, 2 January 1897, serial number 15/Q 200/500, blue on yellow underprint, ornate frieze surrounded by thistles at top centre, bank emblem at low centre, reverse green, bank building at centre, perforated SPECIMEN, (PMS CO48as, Douglas 36b-1 for type), pencil date 'May 12.97' in top margin, about uncirculated, rare.

Estimate: £320 - £380