Watch List notes:

CYPRUS: Specimen of 5 Pounds (1.6.1955) in green on multicolor unpt. Portrait of Queen Elizabeth II at right and map of Cyprus at lower right on face. S/N: "A/1 000000". Perfins "SPECIMEN" & "CANCELLED". Red ovpt "SPECIMEN OF NO VALUE" on both sides. Inside holder by PMG "Extremely Fine 40 / Previously Mounted". (Pick 36s).