Watch List notes:

Government of the Straits Settlements, specimen colour trial 1 dollar, 1st January 1925, serial number K/1 00000, (Pick 9cts, BNB 118cts), blue instead of an issued in red, printers annotation, previously mounted at left and right margin, strong thinning on the right margin, unusual without punch holes, extremely fine, excessively rare.

Estimate: £4000 - £7000