Watch List notes:

Bank of Africa, Orange Free State issue, colour trial £1, Winburg, O.F.S, ND (1900-1920), no serial numbers, black on pale green underprint, map of Africa with lion, ostrich and ships at left, sheep and shepherd at right, reverse blue, several cancellation holes of various sizes, red SPECIMEN NO VALUE overprints and red WATERLOW & SONS roundel, (Pick S482ct, Hern No 15), mounting traces at left, about uncirculated, Hern does not list Winburg, thus exceptionally rare.

Estimate: $6000 - $9000