Watch List notes:

Treasury Series, John Bradbury, first issue £1, ND (7 August 1914), serial number S/31 004686, black and white, head of George V in vertical panel at left; G above, R below, value in black panel at centre, pound symbol at right,, (EPM T3.3, Banknote Yearbook TR10e, Pick 347), in PMG holder 45 EPQ Choice Extremely Fine, watermark right centre, scarce with EPQ designation, also a scarcer prefix.

Estimate: £400 - £500