Watch List notes:

Royston Bank, (John Fordham, Henry Fordham & Frederick Fordham), £5, 27 April 1953, serial number 15350, black and white, value in blue underprint protector at centre, partners initials in oval frame top left, (Outing 1835d), signature cut cancelled, very fine and scarce, Laurence B. Butters Collection.

Estimate: £120 - £160