Watch List notes:

(x) Germany, Federal Republic, Specimen 500 deutsche mark, 2nd January 1960, serial number V0000000A 0293, red and brown, Portrait of a Beardless Man by artist Hans Maler zu Schwaz, values at corners of design, big red MUSTER overprint at centre of design, small MUSTER Nr. 0293 overprint at left centre, reverse, Eltz Castle, and red SPECIMEN over print at centre of design, (Pick 23s, TBB B206as), in PMG holder, previously mounted, 63 NET Choice Uncirculated, only two ever sold in public auction, very rare.

Estimate: £400 - £500