Watch List notes:

Australia, The Federal Bank of Australia Limited, one pound, 18-, Melbourne, nos. 50001 and 100000, perforated SPECIMEN, B.W.& Co., LONDON, certified and graded by PMG as 58 Choice About Uncirculated
Printers Imprint, bottom margin: Sands & McDougal, Melbourne.
(1200-1500 GBP)