Watch List notes:

BANK OF NEW ZEALAND, third issue, fifty pounds, Wellington 1 May 1926, No 012166 (L.449, P.S195, Clifford D371). Heavy centrefold otherwise good colour, very good with tear into top of centrefold and holes in centre, extremely rare, one other (Lavin, Sale 69 lot 3032) in private hands very similar with top right smudge and heavy centrefold.

Ex Noble Numismatics Sale 84, lot 2507. Previously Austin Sprake and Amon Carter Collections and Spink London Sale 30 Sept 2005, (lot 1016).