Watch List notes:

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

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