Watch List notes:

Isle of Man, Isle of Man Bank Limited, £5, 1 December 1936, serial number 12517, brown on pink underprint, view of Ramsey Bay upper-centre and values to upper corners, arms to lower corners, reverse arms at centre flanked by values contained within ornamental guilloches
(IMPM M288a, Q305), in PMG holder, minor repair, 30 Very Fine, red handstamped 'CANCELLED' in maroon ink on lower obverse and upper reverse, being removed from circulation presumably as an official reference of type in the absence of a true specimen, consequently interesting and unusual, rare