Watch List notes:

Bank of England, twenty pounds, London 20th August 1936 and 7th June 1937, K.O.Peppiatt, Operation Bernhard Forgeries WWII by Germany (C.4067b) prefixes 53/M and 54/M, second with Falsification O/P and two punch holes, also stamped lettergram and postcard, both dated 1941. Fine or better. (4)