Watch List notes:

Brecon Bank (Wilkins, Jeffreys, Wilkins & Williams), 5 guineas, 25 August 18[00], serial number 22/2292, black and white, allegorical female at top left, value at lower left and centre, also Merthyr Tydvil Bank (Thomas, Peirce, David Williams & Compy), £1, 2 February 18[21], serial number J1203, black and white, value at lower left, right and top right, bankers' initials at left, manuscript signature of Thomas Peirce at lower right, (Outing 1421c, 1421c), first cut cancelled, both presentable VG and scarce (2).

Estimate: £150 - £200