Watch List notes:

BAHAMAS. Lot of (2). Bahamas Government. 5 Dollars, ND (ca. 1965). P-Unlisted. Front & Back Archival Photographs. PMG Choice Uncirculated 64 & Gem Uncirculated 65 EPQ.
These photo proofs serve as a tangible record of 'what might have been,' steering us off the well-trodden path of the issued design.

The reverse photo proof features a poised Bahamian guard positioned outside an official building, potentially the Presidential residence or Parliament. However, the true highlight is the obverse photo proof that presents a strikingly rare portrait of a youthful Queen Elizabeth. She is adorned with an elegant tiara and necklace, gazing left.

This portrait of Queen Elizabeth and unfinished design lends immense intrigue to this lot. It does not appear on any other global banknotes, suggesting that we are dealing with a preserved piece of an alternative numismatic history.

These photo proofs, typically a part of the design process where physical photographs were taken to record the stages of the note's evolution, provide a rare peek into the pre-production stages of the banknote. They represent not just a rarity, but a tangible piece of numismatic history.

Estimate: $400 - $800