Watch List notes:

Bank of England, John Gordon Nairne, £50, London, 17 March 1914, serial number 5/N 84498, black and white, ornate crowned vignette of Britannia top left, value in black tablet low left, (EPM B208e, Pick 307a), in PMG holder 25 Very Fine, rare, ex Karouni.

Estimate: $3900 - $5500