Watch List notes:

National Bank of Egypt, archival printers specimen proof £5, 2 January 1914, serial number range W/48 000001-W/48 100000, lilac, yellow and pale green underprint, feluccas on the Nile, pyramids in background, value in each corner, reverse lilac and pale orange and green, value at left and right set in ornate guilloches, perforated CANCELLED, (Pick 13s, Hanafy M2s, TBB B111bs), in PMG holder 53 About Uncirculated, last prefix recorded by Hanafy W/46, scarce. Subject to 20% VAT on Buyer’s Premium. Not applicable to "Buy Now " offerings. For more information please view Terms and Conditions for Buyers.

Estimate: £ 1500 - £ 2000