Watch List notes:

Penny 1862 2 over 1 in date, unlisted by Freeman, Gouby BP1862G (J+g), Satin 38A, VG with pitted surfaces, the partial upright of the underlying 1 clear above the upward curve and below the base of the 2 (see illustrations in Gouby, page 45), one of the key Bun Penny extreme rarities, with only a few known, our archive database stretching back to 2003 indicates this is only the second example we have offered

Estimate: 400-1200 GBP